AsemconnectVietnam - Ninh Van Bay Travel Real Estate Joint Stock Company (code NVT - HOSE) recorded revenue in the fourth quarter of 2022 reaching VND71.8 billion, up 76.7%; Profit after tax of the parent company lost VND16.53 billion, while the same period lost VND11.57 billion.

During the period, gross profit increased by 363.4% over the same period last year, correspondingly increased by VND22.71 billion to VND28.96 billion; financial revenue increased by 927.8%, equivalent to an increase of VND6.68 billion to VND7.4 billion; financial expenses increased by 4.2%, respectively increased by VND0.29 billion to VND7.12 billion; selling and administrative expenses increased by 176.6%, respectively, by VND21.32 billion to VND33.39 billion and other activities did not change significantly.
In terms of core business activities (gross profit - financial expenses - selling & administrative expenses), in the fourth quarter, the Company recorded a loss of VND11.55 billion compared to the same period of loss VND12, 65 billion.
Thus, during the period, core profit recorded a loss of VND11.55 billion, the Company reduced its loss due to a sudden increase in financial revenue.
Accumulated in 2022, the Company recorded revenue of VND337.31 billion, an increase of 166.3% compared to the previous year and a loss after tax of the parent company of VND12.09 billion compared to the same period of loss VND49.96 billion.
With the recognition of net profit after tax of the parent company continuing to be negative, as of December 31, 2022, the total accumulated undistributed profit is negative VND742.27 billion, equal to 82% of charter capital.
As of December 31, 2022, Ninh Van Bay's total assets increased by 1.3% compared to the beginning of the year to VND1,100 billion. In which, assets mainly fixed assets recorded VND583.2 billion, accounting for 53% of total assets; Other long-term assets were recorded at VND257.5 billion, accounting for 23.4% of total assets and other items.
In addition, by the end of 2022, total short-term and long-term loans increased slightly by 0.3% compared to the beginning of the year, respectively increased by VND1 billion to VND320.4 billion and accounted for 29.1% of total capital.
According to research, Ninh Van Bay is exploiting and operating two luxury resorts including Six Senses Ninh Van Bay (Khanh Hoa) and Ana Mandara Villas Resort & Spa (Da Lat, Lam Dong). Despite owning a luxury resort, the business situation continued to decline.
N.Nga
Source: VITIC/Tinnhanhchungkhoan