Negative cash flow, negative equity, debt trillion

Tourism and Transport Marketing Joint Stock Company (Vietravel, code VTR) has just announced its consolidated financial statements for the first quarter of 2022 with less satisfactory results. Accordingly, Vietravel lost more than 108 billion dong after tax, marking the 5th loss in the last 6 quarters.

Vietravel tourism giant: Negative cash flow, negative equity, trillion dong debt - 1

Accumulated to March 31, Vietravel’s undistributed profit after tax was negative 293 billion dong.

The tourism giant’s revenue also fell deeply. Specifically, in the first 3 months of the year, Vietravel recorded a net revenue of more than 215.5 billion VND, down 22% compared to the same period in 2021. Financial income decreased by 98.6%, modestly at 225.5 million VND. . Notably, during the period, Vietravel recorded a loss of 60 billion dong from Vietravel Airlines.

Loss of business caused Vietravel’s equity to be negative by more than VND 100 billion at the time of making financial statements, while in the same period it was more than VND 7.9 billion positive.

Still according to the report, Vietravel is carrying a debt of more than 2,041 billion VND, of which short-term debt is more than 1,542 billion VND, long-term debt is more than 497 billion VND. Particularly, short-term finance loans and loans are at nearly 813 billion VND, long-term loans are more than 496 billion VND. The biggest creditors of Vietravel are Vietinbank, BIDV, Vietcombank…

According to the report, as of March 31, Vietravel’s short-term assets were more than VND 1,468 billion, but cash was only over VND 44.3 billion, most of which were short-term receivables of more than VND 1,229 billion. other receivables is 1,043 billion dong. Including 956.1 billion VND of share transfer from Vietravel Holdings, more than 84 billion VND from other organizations and individuals…

Currently, Vietravel has more than 5 billion dong of receivables over 3 years, of which the recovery value is only 1.24 billion dong. Negative business cash flow of more than 16.4 billion dong.

In the market, VTR shares traded at 31,400 dong, down slightly in the latest week.

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