ACV reports record profit of VND 3,346 billion in the first quarter.

ACV achieved over VND 3,346 billion in after-tax profit in the first quarter of 2026, an increase of 7.2% compared to the same period in 2025.

Long Thanh International Airport, Phase 1 - Photo: VAN TRUNG

ACV records record profits.

The consolidated financial report for the first quarter of 2026 of the Vietnam Airports Corporation (ACV) shows positive business figures. Specifically, revenue reached nearly VND 6,861 billion, an increase of 7.7% compared to the same period last year.

Of that, aviation services such as take-off and landing services, ground handling, passenger services, and security contributed 5,709 billion VND, accounting for approximately 83% of total revenue.

Non-aviation revenue, such as space leasing, advertising, and providing amenities, brought in nearly 856 billion VND, accounting for approximately 12%. The remainder came from sales.

Cost of goods sold in Q1 2026 was recorded at nearly VND 2,495 billion, an increase of 24.6%. ACV's gross profit reached over VND 4,345 billion, almost unchanged compared to VND 4,348 billion in the same period last year.

During the period, ACV's financial revenue reached VND 150 billion, a 40% decrease compared to Q1 2025. This was due to a sharp decline in interest income from deposits, which fell to nearly VND 28 billion compared to nearly VND 194 billion in the same period last year.

Financial expenses also decreased to just over 18 billion VND, a reduction of more than 93% thanks to the elimination of exchange rate losses at the end of the period. As a result, ACV's financial profit reached nearly 132 billion VND, compared to a loss of nearly 29 billion VND in the first quarter of last year.

The company's selling expenses in the last quarter amounted to VND 105 billion, a slight increase of VND 1 billion compared to the same period in 2025. The company recorded over VND 362 billion in administrative expenses, a decrease of nearly 21%.

After deducting expenses and taxes, ACV achieved a net profit of over 3,346 billion VND, an increase of 7.2%. This is the company's highest quarterly profit ever.

Construction of the Long Thanh airport project has slowed down.

As of March 31, 2026, ACV's total assets stood at VND 90,573 billion, a decrease of 1.4% compared to the beginning of the year. Of this, work-in-progress assets amounted to nearly VND 36,464 billion, a slight increase of 3.6%. This work-in-progress asset represents unfinished capital construction costs, accounting for over 40% of the company's total assets.

Detailed explanations show that the basic construction costs at Long Thanh International Airport reached VND 35,002 billion, accounting for the largest proportion. This item only increased by VND 775 billion compared to the beginning of Q1 2026. Meanwhile, at the end of Q4 2025, it recorded an increase of nearly VND 10,722 billion compared to the end of Q3 2025.

Construction costs at Long Thanh Airport increased by approximately 775 billion VND in Q1 2026 - Photo: Financial Statements

Construction progress at this project has stalled following the announcement on March 4th by the Investigation Police Department of the Ministry of Public Security that they had temporarily detained Mr. Vu The Phiệt and Mr. Nguyen Tien Viet - members of the board of directors and Deputy General Director of ACV - for investigation into violations of bidding regulations causing exceptionally serious consequences.

Subsequently, ACV appointed Mr. Le Van Khien as Acting Chairman of the Board of Directors and Legal Representative. Mr. Nguyen Duc Hung, Deputy General Director of ACV, was appointed as Deputy General Director in charge of the Executive Board.

To ensure the Long Thanh airport project proceeds on schedule and meets quality standards, at a meeting on May 4-5, Prime Minister Le Minh Hung requested that priority be given to immediately and definitively resolving the issues of appointing the Chairman of the Board of Directors and the General Director of ACV to enhance accountability, efficiency, and effectiveness, remove obstacles, and promptly pay contractors.

Simultaneously, the Ministry of Public Security was tasked with directing the Department of Investigation of Crimes related to Corruption, Economics , and Smuggling (C03) to urgently expedite the investigation and handling of violations and irregularities in the implementation of the Long Thanh airport project, ensuring clarity of individuals, tasks, and responsibilities, and creating conditions for the project's contract packages to be implemented on schedule.

The Ministry of Finance directed the removal of difficulties and obstacles in payments, approved ACV's personnel policy before May 7th, and based on the Ministry of Finance's policy, ACV is to urgently implement personnel restructuring.

The Ministry of Construction has directed the working group to resolve difficulties and obstacles related to construction materials, and to coordinate with Dong Nai City to address related issues. ACV is fully responsible for the progress and quality of component project 3 and other tasks.

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NGUYEN NGUYEN

Source: https://tuoitre.vn/acv-lai-ky-luc-3-346-ti-dong-trong-quy-1-20260504180553799.htm