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|The co-chairmen of the AGM of Vietnam Airlines|
On May 10, Vietnam Airlines (code: HVN) successfully held its annual general shareholders’ meeting, agreeing on a raft or proposals and new targets for 2018. This is the third time Vietnam Airlines has held an AGM after its equitisation.
At the meeting, shareholders discussed and voted on issues such as the 2017 business outcomes and major indicators of the 2018 plan, the audited financial report for 2017, and solutions to share profits, as well as choosing an audit company for the 2019-2020 financial report.
In 2017, Vietnam Airlines was recognised as the firm with the best financial indices. According to the evaluation of Brand Finance, the value of the Vietnam Airlines brand was $310 million, up 60 per cent compared to 2016.
In 2017, Vietnam Airlines reached the key indexes and business targets set forth. This airline had got 140,000 safe flights with more than 22 million passengers. Pre-tax consolidated profit hit over VND3.1 trillion ($137 million), exceeding the plan by 92.6 per cent, including VND1.9 trillion ($83.7 million) from the parent company, surpassing 2016 performance by 52 per cent.
Thus, Vietnam Airlines’s shareholders will get dividends at 8 per cent, which is 2 per cent higher than in 2016. HVN stock will be listed on the Ho Chi Minh City Stock Exchange (HSX) within this year.
|Shareholders voting on the proposals of Vietnam Airlines|
According to the 2018 business plan approved at the meeting, Vietnam Airlines will target transporting 24.3 million passengers and raking in VND97 trillion ($4.27 billion) of consolidated revenue, including VND73.5 trillion ($3.24 billion) from the parent company. Consolidated pre-tax profit is expected at VND2.4 trillion ($106 million), including VND1.95 trillion ($86 million) from the parent company.
In the first quarter of 2018, Vietnam Airlines reached tremendous business outcomes, with total gross revenue estimated at VND25.5 trillion ($1.12 billion), including VND18.6 trillion ($0.82 billion) from the parent company, up 13 per cent in comparison with the same period last year.
Consolidated pre-tax profit hit nearly VND1.46 trillion ($64.3 million), exceeding the plan by 6.2 per cent. The pre-tax profit of the parent company reached VND875 billion ($38.55 million), rising by 30 per cent over the same period last year and 13 per cent against the plan.
Vietnam Airlines has committed to doing its utmost to guarantee safe flights and improve efficiency and service quality in order to maximise benefits for all shareholders.