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HVN - Stable domestic market share but margins down - Earnings Flash

HVN’s 2017 consolidated revenue and NPAT-MI reached VND83 trillion (USD3.6 billion, +18.4% YoY) and VND2.4 trillion (USD104 million, +15.8% YoY), respectively. HVN’s 2017 parent company revenue and NPAT came in at VND63.4 trillion (USD2.8 billion, +12.1% YoY) and VND1.8 trillion (USD79.6 million, +6.1% YoY), respectively. The parent company results include the core airline operations of Vietnam Airlines and VASCO, representing 76% of consolidated NPAT-MI.