Monday, July 13 2020

VietNamNews

EVN sees profit up 38 per cent in 2019

Update: May, 16/2020 - 08:28

 

Workers at EVN Cần Thơ check equipment. EVN recorded VNĐ394.9 trillion in net revenue last year, an increase of 17 per cent compared to 2018. — Photo EVN

HÀ NỘI — Vietnam Electricity (EVN) reported a pre-tax profit of VNĐ12.5 trillion (US$535 million) last year, up 38 per cent year-on-year, the corporation announced on Thursday.

According to EVN’s consolidated financial statements, in 2019, the corporation recorded VNĐ394.9 trillion in net revenue, up 17 per cent compared to the year prior.

Of the estimate, VNĐ3.9 trillion came from financial revenue, 8.5 per cent more year-on-year. Revenue from joint ventures and associates totalled VNĐ498 billion, down 13 per cent.

Regarding expenses, last year, selling expenses of the firm hit VNĐ7.1 trillion, up 6.3 per cent. Administration expenses reached VNĐ13.6 trillion, up 2.5 per cent.

Notably, financial expenses during the year decreased by 23 per cent, equivalent to more than VNĐ6.5 trillion, to touch VNĐ22.5 trillion.

By the end of 2019, the corporation's total assets exceeded VNĐ721 trillion, a slight increase of 2.1 per cent after a year.

Cash and cash equivalents rose by 7 per cent to more than  VNĐ53.6 trillion. — VNS

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