Today, the Annual General Shareholders Meeting 2018 of Vietjet Aviation Joint Stock Company (stock code VJC – HOSE) successfully took place with the participation of 91.74% shareholders and high approval ratings for all issues of the AGM.
According to a report presented by Mr. Luu Duc Khanh – Managing Director of Vietjet – on behalf of the Board of Management, company had a successful year in all aspects in 2017.
Specifically, Vietjet received 17 aircraft, including the first A321 Neo in South East Asia. By continually managing costs efficiently, Vietjet maintains its most efficient operating cost to lead the region in terms of this performance. Indicators of operation safety and ground operations were at the highest of the region, with a technical reliability of 99.66%, the highest level for the Airbus A320/321 fleet.
To continue to expand domestic routes as well as markets to the North Asia region, Vietjet operated 38 domestic routes and 44 international routes connecting the cities of more than a half of the world’s population. The company operated 98,805 safe flights, and transported 17.11 million passengers, an increase of 22% over 2016.
Together with increasing volume of flown international passengers and international charters, ancillary was up in proportion to the number of flights. Vietjet continued to have a good “harvest” in term of finance. According to audited consolidated financial statements of 2017, revenue stood at VND 42,303 billion (58.75 billion THB), after tax profit stood at VND5,073 billion (7.04 billion THB), increasing 54% and 73% respectively over 2016. Earnings per share reached VND11,356 (15.76 THB).
On February 28th, 2017, Vietjet listed its shares on Ho Chi Minh Stock Exchange (HOSE) with the Board of Directors’ commitment to apply international standards in corporate governance, management and information transparency.
Upon the positive business results, the Board of Directors submitted and got approval from the shareholders to increase the dividend payment of 2017 from 50% to 60%. Accordingly, the company advanced 30% dividend payments in cash and will pay a cash dividend of 10% on May 25th. Vietjet will pay a dividend of 20% by share.
In 2018, the company plans to have VND50,970 billion (70.74 billion THB) revenue and VND5,800 billion (8.05 billion THB) profit, increases of 20.5% and 10% respectively compared to those of 2017. The Board of Directors continued to submit to and get approval from the shareholders to increase the dividend payment of 2018 to 50%.
The aviation market of Vietnam and the region will continue its strong growth in 2018 when the economy achieves the highest GDP growth ever and the government is promoting tourism to become a key economic sector, which will attract millions of foreign tourists to Vietnam. With the expansion and increasing frequency of international routes to Japan, India and Australia, Vietjet is heading to a multi-national airline model with a global vision and competitive ability.
Consolidated, Audited financial statements (USD, subject to exchange rate fluctuations)
According to the audited consolidated financial statements of 2017 of Vietjet Aviation Joint Stock Company, after-tax profit of Vietjet stood at USD230.63 million (7,286.76 million THB).
Accordingly, its net revenue stood at nearly USD1.92 billion (60.66 billion THB). After-tax profit of Vietjet in 2017 stood at USD230.63 million (7,286.76 million THB). This profit exceeded by 150% of the 2017 plan and 103% year on year.
Profit attributable to shareholders of the parent company increased to USD230.59 million, equivalent to an increase of 103.3% over 2016 and 150% compared to the company. Earnings per share (EPS) stood at USD0.52 (15.80 THB), an increase of 73% year on year.
Vietjet’s unallocated profit up to December 31st, 2017 was USD264 million (8,341.09 million THB). Before that, the company raised its 2017 dividend payout from 50% to 60% due to the positive business results. Vietjet advanced the 2017 cash dividend payment at the rate of 30% and planned to pay the rest 30% dividend by shares. With its above-mentioned higher profit and abundant cash, the Board of Directors expected to submit to Annual Meeting of Shareholders the payment of 10% cash dividend and 20% share dividend. Vietjet has a tradition of continuous high dividend payments to its shareholders.