EVN Group estimates losses of more than 37 trillion VND in 2023

Notably, information on the production and business activities of State-owned enterprises (SOEs) up to June 30, 2023 and estimated performance for the whole year of 2023 is included.

Accordingly, it is estimated that in 2023, the total revenue of the entire SOE sector will reach VND 1,416,880 billion, an increase of 4% compared to the set plan.

Regarding profit, the total pre-tax profit of the state-owned enterprise sector in 2023 is estimated at VND 117,388 billion, up 9% compared to the plan.

The results of state budget payment show that the total tax and other payments to the state budget of state-owned enterprises in 2023 are estimated at VND 128,821 billion, an increase of 7% compared to the plan.

However, regarding the issue of losses, it is estimated that in 2023, enterprises will incur losses of about VND 41,666 billion, mainly concentrated in the central enterprise sector such as: Vietnam Electricity Group incurred losses of VND 37,062 billion. Vietnam Airlines Corporation incurred losses of VND 4,515 billion.

Previously, from the beginning of the year to June 30, 2023, EVN Group incurred a loss of VND 32,055 billion and Vietnam Airlines Corporation incurred a loss of VND 1,317 billion.

Also in the first 6 months of the year, the total loss incurred by the entire state-owned enterprise sector was 33,639 billion VND. The total revenue of this sector nationwide was 689,534 billion VND, reaching 50% of the yearly plan. Profit before corporate income tax was 67,403 billion VND, reaching 63% of the yearly plan.

It is estimated that EVN Group will incur a loss of VND 37,062 billion in 2023. (Illustration photo: Investment Newspaper)

" In the context of the general difficult production and business situation of enterprises due to the impact of the Russia-Ukraine conflict and the instability of the world economy , SOEs have basically made efforts to organize production and business to achieve the set plan, ensuring major balances of the economy and stabilizing the macro economy. However, some enterprises still face difficulties, losses, and operating efficiency is not commensurate with the resources held ," the report of the Ministry of Planning and Investment stated.

According to the report, as of January 1, 2023, the total consolidated equity of 19 corporations and general corporations was VND 1,173,000 billion. Of which, the energy sector was VND 818,764 billion, accounting for 69.8%; transport and traffic infrastructure was VND 101,287 billion, accounting for 8.6%; Telecommunications and IT was VND 95,518 billion, accounting for 8.1%; Industry was VND 30,575 billion, accounting for 2.6%; Agriculture was VND 68,696 billion, accounting for 5.9%.

Total consolidated assets are 2,445,000 billion VND.

Business results in the first 6 months of the year show that the total revenue of state-owned enterprises is estimated at VND580,490 billion, equal to 53.7% of the yearly plan and up 4% over the same period. Some enterprises with total revenue greater than VND10,000 billion include: Vietnam Oil and Gas Group (VND106,472 billion), Vietnam Electricity Group (VND210,000 billion), Vietnam National Coal - Mineral Industries Group (VND83,000 billion), Vietnam Petroleum Group (VND83,000 billion), Vietnam Posts and Telecommunications Group (VND18,600 billion), Mobifone Telecommunications Corporation (VND13,466 billion).

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