Vietjet named among top 50 best-listed Vietnamese companies in 2024

Vietjet’s Member of the Board of Directors and Vice President Hồ Ngọc Yến Phương (right) received the award for one of the top 50 best-listed Vietnamese companies in 2024.— Photo courtesy of Vietjet

HCM CITY — Vietjet Aviation Joint Stock Company (HOSE: VJC) has been honoured as one of the 50 best-listed companies in Việt Nam in 2024 by Forbes Vietnam magazine. 

Based on the audited financial report 2023, representing the aviation industry, Vietjet has ranked 5th in terms of revenue with VNĐ58.3 trillion, marking a 45 per cent increase compared to the same period in 2022. It defined the company’s strong recovery and sustainable growth strategy.

The top 50 best-listed Vietnamese companies by Forbes were selected through a rigorous evaluation process, beginning with a preliminary screening based on fundamental financial criteria, followed by scoring on factors such as revenue growth, profitability, return on equity (ROE), return on capital (ROC) and earnings per share (EPS) growth from 2019 to 2023.

Additionally, Forbes has also considered each company’s industry position, governance quality and growth prospects.

While the global economy faced many challenges, in the first half of 2024, Vietjet continued to record outstanding business results with total revenue surpassing VNĐ34 trillion, up 15 per cent year-on-year.

Its pre-tax profit reached over VNĐ1.31 trillion in H1, up 433 per cent over the same period, exceeding the profit plan for the whole year 2024 by 21 per cent.

Vietjet has also maintained a long-term credit rating of VnBBB-, the highest among Vietnamese enterprises.

Other businesses who got awards on the night and who have also been on the stock market for many years, were Vinamilk and Petrolimex.

Vietjet has expanded continuously its fleet and flight network, planning on receiving an additional ten new aircraft in 2024.

The airline is committed to sustainable growth, expanding its routes across Việt Nam and international destinations in Australia, Japan, South Korea, mainland China, India, Singapore, Thailand, Malaysia, Laos, Cambodia, Indonesia and Taiwan, to meet the needs of both residents and tourists.

Since its initial public offering, Vietjet’s VJC stock has consistently been highly valued by both domestic and international investors for its strong profitability.

In addition to frequently being featured in the Top 50 best-listed companies by Forbes, Vietjet has been honoured by the leading financial publication International Finance with ‘The Best Finance Management-Aviation’ award. 

It has also been recognised by Airfinance Journal as one of the top 50 airlines for healthy financing. AirlineRatings also named Vietjet as the best ultra-low-cost airline. — VNS