Saigon Tourist suffers a big loss, debt skyrockets

Saigon Tourist Transportation Joint Stock Company (Saigon Tourist, code STT) has just announced its consolidated financial statements for 2021 with less than satisfactory results. Accordingly, the net revenue of Saigon Tourist in 2021 is only 15.7 billion VND, down 36% compared to the same period in 2020.

Because the cost of goods sold was recorded at more than 15.8 billion VND, Saigon Tourist suffered a gross loss of 101.4 million VND. In addition, the administrative expenses increased by 98%, to more than 8.8 billion dong, along with a series of other expenses… causing STT to report a net loss of more than 10.25 billion dong in 2021, bringing the accumulated loss to more than 107 billions dong.

According to the report, Saigon Tourist is carrying a debt of more than 52.9 billion dong, up more than 15% compared to the beginning of the year, mainly short-term debt of 52 billion dong.

Net cash flow from operating activities was recorded at VND 1.03 billion, a sharp increase compared to 2020 due to fluctuations in payables without interest and income tax.

On the market, STT shares closed today 3/6 at 2,900 dong/share, down 12% compared to the previous session. At this price, the market price of Saigon Tourist shares is currently less than 1 cup of iced tea (3,000 – 5,000 VND/cup of iced tea).

In July 2018, 8 million STT shares were delisted on the Ho Chi Minh City Stock Exchange (HoSE). The reason STT has been delisted is because this company has had production and business losses for 3 consecutive years based on the consolidated audited financial statements for the years 2015, 2016 and 2017, in the case of securities trading. securities are delisted according to regulations.

HoSE also previously put this stock under special control, from May 11 because this company continued to violate the regulations on information disclosure on the website. stock market after being placed on alert.

Notably, before the poor business results, the audited Saigon Tourist emphasized that the company’s ability to continue operating continuously depends greatly on the production management of the board of directors, the support of the parties. related and banking.