May 17, 2020 | 19:24 (GMT+7)
National electricity corporation sees profit up 38 per cent in 2019
Vietnam Electricity (EVN) recently reported a pre-tax profit of 12.5 trillion VND (535 million USD) last year, up 38 percent year-on-year.
According to EVN’s consolidated financial statements, last year the corporation recorded 394.9 trillion VND in net revenue, up 17 percent compared to the year prior.
Of the estimate, 3.9 trillion VND came from financial revenue, 8.5 percent more year-on-year. Revenue from joint ventures and associates totalled 498 billion VND, down 13 percent.
Regarding expenses, last year, selling expenses of the firm hit 7.1 trillion VND, up 6.3 percent. Administration expenses reached 13.6 trillion VND, up 2.5 percent.
Notably, financial expenses during the year decreased by 23 percent, equivalent to more than 6.5 trillion VND, to touch 22.5 trillion VND.
By the end of 2019, the corporation's total assets exceeded 721 trillion VND, a slight increase of 2.1 percent after a year.
Cash and cash equivalents rose by 7 percent to more than 53.6 trillion VND.
Source: VNA