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Vinasun Taxi is out of line at a loss

Vinasun broke the circuit for 8 consecutive quarters of loss after recording a pre-tax profit of nearly 12.5 billion dong in the first quarter of this year.

The business activities of Anh Duong Vietnam Joint Stock Company (Vinasun) have prospered after 2 years of being severely affected by the epidemic. According to the announced consolidated financial statement of the first quarter, Vinasun achieved revenue of more than 164 billion dong, down 26% compared to the same period in 2021. However, the cost of goods sold decreased by 40% to 128 billion dong. This taxi company has a gross profit of nearly 36 billion VND.

In this period, financial revenue of Vinasun more than doubled, to 4.3 billion dong. The company also cut a series of expenses sharply, in which selling expenses decreased the most – more than 2.5 times, to about 11.5 billion dong. These factors helped Vinasun make a pre-tax profit of nearly VND 12.5 billion – interrupting the circuit for 8 consecutive quarters of loss.

This profit is also equivalent to 45% of Vinasun’s full year 2022 profit plan. This year, the taxi giant that once held the largest market share in Ho Chi Minh City set the goal of “making profit at all costs” to avoid the delisting sentence. According to the regulations, if the company has lost business results for three consecutive years, the shares will be delisted.

Thanks to this positive business result, VNS is also one of the few stocks that has gained all the band in the last 2 days in the context of the whole market plummeting. This code closed the session on April 21 at 12,700 dong. Currently, VNS stock is still under control because in 2020 the loss is 207 billion dong, in 2021 the loss is 273 billion dong.

According to the company’s management, this year’s business plan may be influenced by many factors such as the recovery of the tourism industry, the escalating fuel costs, the competition of foreign companies. working in the same industry…

This year, Vinasun will focus on restoring market share in Ho Chi Minh City, Binh Duong and Dong Nai, and find opportunities to shake hands with partners in the fields of transportation, technology, consumption and payment businesses. The company continues to improve the organizational structure, management apparatus with a decentralized model.

By the end of 2021, Vinasun owns more than 1,700 taxis. The company plans to invest at least 156 new cars this year, while it wants to liquidate and sell more slowly than 506 cars. In the coming time, this enterprise also aims to re-attract employees through remuneration policies and reasonable income distribution. After the epidemic period, Vinasun cut 2,500 car workers, including 1,800 drivers.

Mr. Tu

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