Vietnam Airlines JSC Annual Results: Standalone & Consolidated Reports

Annual Results

Results Snapshot

Figures in Million

Consolidate Annual Results

Dec'25

Dec'24

Dec'23

Dec'22

Dec'21

Dec'20

Dec'19

Net Sales

12,12,12,931.57

10,59,41,972.31

9,15,39,865.19

7,04,10,221.32

2,79,11,339.51

4,05,38,338.65

9,82,28,083.70

Other Operating Income

0.00

Total Operating income

12,12,12,931.57

10,59,41,972.31

9,15,39,865.19

7,04,10,221.32

2,79,11,339.51

4,05,38,338.65

9,82,28,083.70

Raw Material Cost

10,31,41,422.22

9,20,39,578.34

8,76,54,421.19

7,32,86,232.32

3,79,29,515.74

4,79,75,249.58

8,72,59,507.65

Purchase of Finished goods

0.00

(Increase) / Decrease In Stocks

0.00

Employee Cost

0.00

2,60,87,879.45

79,35,963.20

58,81,332.90

43,65,016.66

47,98,941.46

96,32,068.52

Power Cost

0.00

Manufacturing Expenses

9,80,642.96

22,41,974.18

28,04,170.08

21,67,497.57

13,62,169.61

11,77,282.17

17,23,701.09

Selling and Distribution Expenses

88,64,608.86

69,22,205.27

63,12,230.06

48,67,301.52

27,83,467.71

33,82,980.84

68,92,216.58

Other Expenses

-98,064.30

-28,32,985.36

-10,74,013.33

-8,04,883.05

-5,72,718.63

-5,97,622.36

-11,35,576.96

Total Expenditure (Excl Depreciation)

11,20,06,031.08

9,89,61,783.61

9,39,66,651.25

7,81,53,533.84

4,07,12,983.45

5,13,58,230.42

9,41,51,724.23

Operating Profit (PBDIT) excl Other Income

9206900.5

6980188.7

-2426786.0999999996

-7743312.5

-12801643.899999999

-10819891.799999999

4076359.5

Other Income

-46,493.78

-6,83,282.95

28,878.38

-9,37,661.30

13,33,205.36

11,71,120.94

14,22,849.59

Operating Profit (PBDIT)

1,40,07,260.37

1,12,24,555.20

34,27,624.91

-52,41,494.35

-95,54,053.60

-68,21,826.90

1,02,55,292.90

Interest

9,80,642.96

22,41,974.18

28,04,170.08

21,67,497.57

13,62,169.61

11,77,282.17

17,23,701.09

Exceptional Items

97,154.04

45,27,574.58

0.00

Gross Profit (PBDT)

1,80,71,509.34

1,39,02,393.97

38,85,444.00

-28,76,011.00

-1,00,18,176.23

-74,36,910.93

1,09,68,576.05

Depreciation

48,46,853.67

50,94,513.26

59,86,064.14

35,36,492.40

20,49,422.94

29,61,203.22

51,42,695.40

Profit Before Tax

82,76,917.78

84,15,642.34

-53,62,609.32

-1,09,45,484.32

-1,29,65,646.15

-1,09,60,312.30

33,88,896.41

Tax

5,62,920.31

4,58,079.59

2,69,139.15

2,77,530.84

3,13,769.79

2,17,793.29

8,51,435.34

Provisions and contingencies

0.00

Profit After Tax

73,01,971.13

75,64,092.02

-59,30,301.56

-1,12,98,155.19

-1,29,07,540.69

-1,09,27,035.28

23,45,801.82

Extraordinary Items

0.00

Prior Period Expenses

0.00

Other Adjustments

0.00

Net Profit

73,01,971.13

75,64,092.02

-59,30,301.56

-1,12,98,155.19

-1,29,07,540.69

-1,09,27,035.28

23,45,801.82

Share in Profit of Associates

0.00

Minority Interest

4,12,026.34

3,93,470.74

2,98,553.09

75,140.03

-3,71,875.25

-2,51,070.30

1,91,659.24

Other related items

0.00

Consolidated Net Profit

77,13,997.47

79,57,562.76

-56,31,748.47

-1,12,23,015.16

-1,32,79,415.94

-1,11,78,105.58

25,37,461.06

Equity Capital

0.00

Face Value

0.0

10000.0

Reserves

60,20,649.50

-1,00,16,715.15

-1,75,15,195.38

-1,15,62,896.23

15,08,199.81

63,30,863.56

1,81,47,244.13

Earnings per share (EPS)

0.0

2691.99

-2110.54

-4020.9

-6232.81

-4802.03

1030.89

Diluted Earnings per share

0.0

2691.99

-2110.54

-4020.9

-6232.81

-4802.03

1030.89

Operating Profit Margin (Excl OI)

7.6%

6.43%

-2.83%

-11.14%

-46.35%

-27.02%

3.76%

Gross Profit Margin

10.83%

12.75%

0.68%

-10.52%

-39.11%

-19.73%

8.69%

PAT Margin

6.02%

7.14%

-6.48%

-16.05%

-46.24%

-26.95%

2.39%

Public Share Holdings (%)

0.0%

Pledged Promotor Holding (%)

0.0%

Annual Analysis Highlights

Net Sales

YoY Growth in year ended Dec 2025 is 14.41% vs 15.73% in Dec 2024

Consolidate Net Profit

YoY Growth in year ended Dec 2025 is -3.06% vs 241.30% in Dec 2024

Operating Profit (PBDIT) excl Other Income

YoY Growth in year ended Dec 2025 is 18.02% vs 250.36% in Dec 2024

Interest

YoY Growth in year ended Dec 2025 is -56.26% vs -20.05% in Dec 2024

Operating Profit Margin (Excl OI)

YoY Growth in year ended Dec 2025 has improved from Dec 2024

Compare Annual Results Of Vietnam Airlines JSC With

Select Peers

Figures in Million

Consolidate Annual Results

Change(VND)

Change(%)

Net Sales

12,12,12,931.57

8,20,92,949.67

3,91,19,981.90

47.65%

Other Operating Income

0.00

Total Operating income

12,12,12,931.57

8,20,92,949.67

3,91,19,981.90

47.65%

Raw Material Cost

10,31,41,422.22

7,36,24,045.49

2,95,17,376.73

40.09%

Purchase of Finished goods

0.00

(Increase) / Decrease In Stocks

0.00

Employee Cost

0.00

Power Cost

0.00

Manufacturing Expenses

9,80,642.96

41,46,169.31

-31,65,526.35

-76.35%

Selling and Distribution Expenses

88,64,608.86

45,38,069.48

43,26,539.38

95.34%

Other Expenses

-98,064.30

-4,14,616.93

3,16,552.63

76.35%

Total Expenditure (Excl Depreciation)

11,20,06,031.08

7,81,62,114.97

3,38,43,916.11

43.30%

Operating Profit (PBDIT) excl Other Income

92,06,900.49

3,930,834.71

52,76,065.78

134.22%

Other Income

-46,493.78

28,45,668.14

-28,92,161.92

-101.63%

Operating Profit (PBDIT)

1,40,07,260.37

78,53,737.42

61,53,522.95

78.35%

Interest

9,80,642.96

41,46,169.31

-31,65,526.35

-76.35%

Exceptional Items

97,154.04

0.00

97,154.04

Gross Profit (PBDT)

1,80,71,509.34

84,68,904.19

96,02,605.15

113.39%

Depreciation

48,46,853.67

10,77,234.58

37,69,619.09

349.93%

Profit Before Tax

82,76,917.78

26,30,333.54

56,46,584.24

214.67%

Tax

5,62,920.31

5,06,900.12

56,020.19

11.05%

Provisions and contingencies

0.00

Profit After Tax

73,01,971.13

21,22,533.97

51,79,437.16

244.02%

Extraordinary Items

0.00

Prior Period Expenses

0.00

Other Adjustments

0.00

Net Profit

73,01,971.13

21,22,533.97

51,79,437.16

244.02%

Share in Profit of Associates

0.00

Minority Interest

4,12,026.34

899.45

4,11,126.89

45,708.70%

Other related items

0.00

Consolidated Net Profit

77,13,997.47

21,23,433.42

55,90,564.05

263.28%

Equity Capital

0.00

Face Value

0.00

10,000.00

0.00

Reserves

60,20,649.50

2,48,05,877.49

-1,87,85,227.99

-75.73%

Earnings per share (EPS)

0.00

3,777.15

-3,777.15

-100.00%

Diluted Earnings per share

0.00

3,777.15

-3,777.15

-100.00%

Operating Profit Margin (Excl OI)

7.60%

4.79%

0.00

2.81%

Gross Profit Margin

10.83%

4.52%

0.00

6.31%

PAT Margin

6.02%

2.59%

0.00

3.43%

Public Share Holdings (%)

0.00

0.00%

Pledged Promotor Holding (%)

0.00

0.00%

Annual - Net Sales

Net Sales 1,21,21,293.16 Million

in Dec 2025

Figures in Million

YoY Growth in year ended Dec 2025 is 14.41% vs 15.73% in Dec 2024

Annual - Consolidate Net Profit

Consolidate Net Profit 7,71,399.75 Million

in Dec 2025

Figures in Million

YoY Growth in year ended Dec 2025 is -3.06% vs 241.30% in Dec 2024

Annual - Operating Profit (PBDIT)

Operating Profit (PBDIT) 14,05,375.42 Million

in Dec 2025

Figures in Million

YoY Growth in year ended Dec 2025 is 18.02% vs 250.36% in Dec 2024

Annual - Interest

Interest 98,064.30 Million

in Dec 2025

Figures in Million

YoY Growth in year ended Dec 2025 is -56.26% vs -20.05% in Dec 2024

Annual - Operating Profit Margin (Excl OI)

Operating Profit Margin (Excl OI) 7.60%

in Dec 2025

Figures in %

YoY Growth in year ended Dec 2025 has improved from Dec 2024