VietJet Aviation (VJC) Q4 2024 earnings summary

Executive summary

• Achieved net revenue of VND 71.86 trillion for 2024, up 23% year-over-year, with Q4 revenue at VND 19.80 trillion, a 36% increase from Q4 2023.

• Net profit after tax for 2024 reached VND 1.43 trillion, a significant rise from VND 231 billion in 2023.

• Gross profit for 2024 was VND 6.97 trillion, up from VND 2.52 trillion in 2023.

Financial highlights

• Total assets as of 31 December 2024 stood at VND 99.52 trillion, up from VND 86.93 trillion at the start of the year.

• Owners' equity increased to VND 16.93 trillion from VND 15.25 trillion.

• Cash and cash equivalents at year-end were VND 4.56 trillion, down from VND 5.05 trillion.

• Basic earnings per share for 2024 was VND 2,632, up from VND 426 in 2023.

Outlook and guidance

• The group continues to invest in fleet expansion and infrastructure, with significant deposits for future aircraft purchases up to 2029.

• Management expresses confidence in the group’s ability to meet obligations and continue operations.