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HVN - Rising fuel costs dampened earnings - Earnings Flash

Company Research

01 Nov 2018

HVN’s consolidated 9M 2018 revenue grew 18% YoY to VND73.5tn (USD3.2bn) while NPAT-MI dropped 17% YoY to VND1.7tn (USD74mn). Vietnam Airlines’ (VNA) stand-alone 9M 2018 revenue was up 13% YoY to VND54.2tn (USD2.3bn) while NPAT decreased 8.5% YoY to VND1.6tn (USD71mn). HVN cited the 37.5% increase in average fuel prices between Q3 2017 and Q3 2018 as the key reason for the weak earnings performance.

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