VietJet Aviation (VJC) Q2 2024 earnings summary

Executive summary

• Achieved net profit after tax of VND 1,117.8 billion for the first half of 2024, a significant increase from VND 136.6 billion in the same period last year.

• Revenue for the six-month period reached VND 34,015.6 billion, up 15% year-over-year.

• Gross profit for the first half was VND 3,523.2 billion, nearly double the prior year.

Financial highlights

• Net revenue for Q2 2024 was VND 16,223.6 billion, slightly down from VND 16,605.2 billion in Q2 2023.

• Gross margin improved to 10.4% in Q2 2024 from 4.3% in Q2 2023.

• Net profit after tax for Q2 2024 was VND 578.7 billion, compared to a net loss of VND 36.2 billion in Q2 2023.

• Basic earnings per share for the first half was VND 2,057, up from VND 249 year-over-year.

• Cash and cash equivalents at period end were VND 4,105.5 billion, down from VND 5,050.7 billion at the start of the year.

Outlook and guidance

• Board of Management states there are no reasons to believe the Group will not be able to pay its debts as they fall due.