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VJC: Explanation for Q4.2019 financial statements VietJet Aviation Joint Stock Company explains the fluctuation in business performance as follows:
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Quarter IV/2019
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Quarter IV/2018
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Increase/decrease
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% Increase/
decrease
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Profit after tax of parent company
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807,795,527,336
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125,774,081,404
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682,021,445,932
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542%
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Consolidated profit after tax
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538,824,658,755
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1,535,915,886,799
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(997,091,228,044)
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-65%
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The profit after tax of parent company in Quarter IV/2019 increased but the consolidated profit after tax sharply decreased compared to Quarter IV/2018 mainly because of the following causes:
- Until the end of Quarter IV/2019, Vietjet remained the strong growth of the air transport business. In particular, Vietjet has opened 27 new flight routes, increased the number of routes to 139 (including 95 international routes and 44 local routes) and made 139,000 flights.
- The revenue of parent company in Quarter IV/2019 was 10,500 billion dongs and rose by 25%. Of which, the ancillary revenue was 3,091 billion dongs and increased by 30.1% compared to the same period of last year.
- The gross profit in Quarter IV/2019 reached 1,048 billion dongs, up 11.5% over the same period of last year.
Therefore, the profit after tax in Quarter IV/2019 was 808 billion dongs, a sharp growth compared to the same period 2018.
- In Quarter IV/2019, Vietjet temporarily delayed the record of commercial aircraft revenue as planned because the firm received 02 aircraft instead of 09 aircraft in Quarter IV/2018 (down 78%). This made the consolidated profit after tax decreased by 65% against the same period of last year. As expected, the plan of aircraft delivery will be completed in 2020 and 2021. HOSE
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