In the first half of the year, the owner of the Vinpearl Safari, Resort, Discovery and VinOasis Phu Quoc chains earned an average of nearly 5 billion VND in profit per day.
According to the recently announced information table, Phu Quoc Tourism Investment and Development Joint Stock Company (DPQC) reported a profit after tax of about 832 billion VND, an increase of more than 5 times compared to the first 6 months of 2022. On average, the company makes a profit of nearly 4.6 billion VND per day.
This is also a record profit since the company announced the information. In the period 2019-2021, DPQC suffered continuous losses but improved quite quickly. From a loss of more than 2,500 billion in 2019, the above figure was reduced to more than 30 billion in 2021, meaning a loss reduction of more than 84 times in just two years. In 2022, the company began to make a profit.
As of the end of June, DPQC had more than VND36,400 billion in total liabilities. Of which, bonds accounted for more than 20%, recording more than VND7,500 billion. The outstanding bonds of this enterprise have gradually decreased since 2019 but still maintain a ratio of 2-3 times the owner's equity.
Over the years, DPQC has continuously raised capital through the bond channel with more than 30 issuances. Currently, this enterprise has 7 outstanding bonds with an interest rate of 10% per year, maturing in May-July 2027.
Phu Quoc Tourism Investment and Development Joint Stock Company was established in 2014. At the time of its establishment, Vingroup Corporation (VIC) owned 55% with an original value of more than VND 350 billion. In its 2021 annual report, Vingroup announced that its holding ratio had decreased to 4.5%. By March 2022, VIC completed the transfer of 4.5% of shares in DPQC with a total value of nearly VND 1,700 billion. The profit from this transaction was more than VND 1,300 billion and the transferee was not announced.
Vinpearl Safari Phu Quoc semi-wild animal conservation staff are introducing rare animals. Photo: Ha Mai
This enterprise is operating 7 brands including Vinpearl Safari zoo, VinOasis entertainment complex and resorts such as Vinpearl Resort & Golf, Vinpearl Resort & Spa, Discovery 1 - 2 and 3 in Phu Quoc city ( Kien Giang ).
In parallel with the above brands, DPQC is also constructing the Hon Doi Moi project and the Bai Vong conference center, hotel and resort villa area. These are two unfinished projects located in the Phu Quoc Island Project Complex with an area of over 1,160 hectares and a total investment of VND50,000 billion (over USD2 billion).
The Hon Doi Moi project includes restaurants, reception huts and landscaped green spaces, with a total of more than 1,900 visitors per day. The project also wants to organize coral diving or glass-bottom boat diving activities for 15-20 days a month, leaving the remaining time for the coral to recover and grow.
The Bai Vong project will have hotels, villas, resorts, culinary conference centers, squares, outdoor conference centers... DPQC wants to build about 3,200 accommodation rooms, capable of welcoming about 7,000 guests and 1,400 visitors per day.
Siddhartha
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