AsemconnectVietnam - PetroVietnam Transportation Corporation (PVTrans, code PVT – HOSE) summarizes business activities as it continues to exceed revenue and profit targets, pay state budget and receive 12 more ships, adding 51 ships.

PVTrans's board of directors said that since the beginning of 2023, the maritime transport market has continuously fluctuated, recording a strong differentiation between transport segments. Domestically, the economy gradually recovered, leading to an increase in demand for petroleum consumption to serve production, business and transportation activities, creating favorable conditions for PVTrans's production and business activities.
Faced with difficult and favorable situations, PVTrans has proactively and flexibly proposed many solutions to take advantage of market opportunities, while overcoming difficulties, maintaining stable, safe, efficient and complete production and exceeding production and business plan targets.
By the end of fiscal year 2023, PVTrans is estimated to achieve revenue of VND9,600 billion, equivalent to 141% of the year's plan (yearly revenue plan of VND6,800 billion); Pre-tax profit is estimated at VND1,460 billion, equivalent to 215% of the year's plan; Profit after tax is estimated at VND1,172 billion, equivalent to 218% of the year's plan (yearly plan for profit after tax is VND538 billion); State budget payment is estimated at VND486 billion, equivalent to 164% of the year's plan (state budget payment plan is VND296 billion in 2023); and pre-tax profit/charter capital ratio reached 45%, equivalent to 237% of the year plan.
In addition, regarding the fleet rejuvenation strategy, in 2023, PVTrans has invested in purchasing and leasing a total of 12 ships, bringing the total number of ships in the fleet to 51 with a total tonnage of nearly 1.4 million DWT. The increasingly improving scale and quality of assets will bring competitive advantages, meeting PVTrans's need for stable and sustainable development in the coming time.
To maintain a stable and sustainable growth rate, Mr. Pham Viet Anh, Chairman of the Board of Directors of PVTrans emphasized that in the context of an unpredictable market and intertwined challenges and opportunities in 2024, PVTrans' Board of Directors will strive to improve governance, synchronize the management apparatus and human resources in accordance with the size of the Corporation's assets; continue to promote the building of corporate culture, promoting the unique cultural identity values of PVTrans employees. In parallel with improving fleet capacity in the international market, PVTrans will also promote the search for opportunities to participate in the domestic logistics supply chain, while enhancing its position in the service chain of the entire Group.
N.Nga
Source: VITIC/Tinnhanhchungkhoan