AsemconnectVietnam - Dinh Vu Port Investment and Development Joint Stock Company (code DVP) recently announced its business plan for the third quarter of 2024 with pre-tax profit estimated at VND60 billion, down 44% compared to the second quarter.

In the third quarter of 2024, DVP's Board of Directors unanimously approved the production and business plan with an output of 135,000 teu. Accordingly, revenue reached VND150 billion and profit before tax reached VND60 billion, an increase of 4.5% in revenue, but a decrease of more than 6% in profit compared to the same period last year.
If with the results of the second quarter of 2024, DVP's third quarter targets are all going down, in which the output target decreased by 17%, the revenue target decreased by 33% and the profit target decreased by nearly 44%.
In the second quarter, DVP recorded output of 162,278 teu, an increase of 32.7% over the same period last year. Accordingly, net revenue reached VND191 billion, an increase of 43%, but pre-tax profit reached more than VND106 billion, down 19% compared to the same period in 2023; DVP's profit after tax reached VND85 billion.
The main reason DVP profits decreased was that second quarter financial revenue decreased by 83%, to only VND13.9 billion due to lower deposit interest rates than the same period and the Company has not received 2023 dividends from the SITC Dinh Vu Logistics Co.,Ltd. In the second quarter of 2023, DVP will receive VND60 billion in 2022 dividends from this joint venture company.
In the first 6 months of 2024, Dinh Vu Port recorded net revenue of VND341.8 billion, an increase of 31% over the same period last year. But also because financial revenue decreased, profit after tax decreased by 34%, to VND145.9 billion.
At the end of last June, the Company finalized the list of shareholders paying cash dividends for the second period of 2023 at a rate of 45%; The amount spent is VND180 billion. Previously, the first cash dividend was carried out by DVP in early 2024.
N.Nga
Source: VITIC/Tinnhanhchungkhoan