EVN sees profit up 38 per cent in 2019

Saturday, May 16, 2020 08:29

Workers at EVN Can Tho check equipment. EVN recorded VND394.9 trillion in net revenue last year, an increase of 17 per cent compared to 2018. — Photo EVN

Vietnam Electricity (EVN) reported a pre-tax profit of VND12.5 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 VND394.9 trillion in net revenue, up 17 per cent compared to the year prior.

Of the estimate, VND3.9 trillion came from financial revenue, 8.5 per cent more year-on-year. Revenue from joint ventures and associates totalled VND498 billion, down 13 per cent.

Regarding expenses, last year, selling expenses of the firm hit VND7.1 trillion, up 6.3 per cent. Administration expenses reached VND13.6 trillion, up 2.5 per cent.

Notably, financial expenses during the year decreased by 23 per cent, equivalent to more than VND6.5 trillion, to touch VND22.5 trillion.

By the end of 2019, the corporation's total assets exceeded VND721 trillion, a slight increase of 2.1 per cent after a year.

Cash and cash equivalents rose by 7 per cent to more than VND53.6 trillion. — VNS

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