VietJet Aviation (VJC) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached VND 18.16 trillion, up 27.6% year-over-year; nine-month revenue totaled VND 52.19 trillion, up 19.3% year-over-year.

• Net profit after tax for Q3 2024 was VND 570.7 billion, a significant increase from VND 75.1 billion in Q3 2023; nine-month net profit after tax was VND 1.41 trillion, up from VND 212 billion year-over-year.

• Gross profit for Q3 2024 was VND 2.20 trillion, up from VND 1.24 trillion in Q3 2023.

Financial highlights

• Total assets as of 30 September 2024 were VND 93.77 trillion, up from VND 86.93 trillion at the start of the year.

• Owners' equity increased to VND 16.72 trillion from VND 15.25 trillion at the start of the year.

• Cash and cash equivalents at period end were VND 2.06 trillion, down from VND 5.05 trillion at the start of the year.

• Basic earnings per share for the nine months was VND 2,589, up from VND 436 year-over-year.

Outlook and guidance

• The company continues to invest in fleet expansion and infrastructure, with significant deposits for future aircraft purchases and ongoing construction in progress.

• Management expresses confidence in the ability to meet debt obligations as they fall due.