PVTrans – Top 50 best listed company of 2024 in Vietnam, four times honored – a pride hold high


PVTrans – Top 50 best listed company of 2024 in Vietnam, four times honored – a pride hold high

HCMC, August 22th 2024 - Admit the lively atmosphere of the 2024 Business Forum, titled “Ahead of the game” organized by Forbes Vietnam, PetroVietnam Transportation Corporation (PVTrans, stock code: PVT) is honored for the fourth times being named in the Top 50 Best Listed Companies of 2024 in Vietnam. This achievement highlights PVTrans' exceptional capabilities and reinforces its strong market position and reputation.

During the forum’s discussion, financial and economic experts together with leaders from top businesses acknowledged that 2024 has been a challenging year for the global economy. The impacts of geopolitical instability and the prolonged effects of the U.S. Federal Reserve (FED) maintaining high interest rates have taken a toll on Vietnam's economy. This was especially apparent in the first half of 2024, when the U.S. dollar surged due to high interest rates, placing immense pressure on domestic inflation and interest rates.

In the face of these global “headwaves”, PVTrans has shown remarkable resilience, not only maintaining its position but also reaching impressive growth. In the first half of 2024, PVTrans reported consolidated total revenue of VND 5,700 billion, with consolidated pre-tax profit reaching VND 833 billion, both surpassing quarterly targets by 23% and 45%, respectively. This achievement mainly came from the company's strategic plan which is continuously expanding and rejuvenating its fleet. Up to date, PVTrans has total 54 vessels with approximately 1,5 million DWT. Over 85% of the company's fleet currently operates efficiently on international routes, demonstrating PVTrans’ strong growth, operational efficiency and competitiveness.

Besides that, PVTrans’ stock (PVT) has continuously affirmed its appealing to investors on the stock market. With strong growth and impressive financial indicators, PVT is consistently considered as momentum stock, reflecting growing confidence in the company’s future and validating its solid strategy and management. PVT symbolizes stability and sustainable growth amid market volatility.

Being honored in Forbes Vietnam' Top 50 Best Listed Companies is a meaningful motivation for PVTrans, affirming its strategic direction. The corporation is committed to overcoming challenges and contributing to the advancement of Vietnam’s maritime transport sector and national economy while fulfilling the expectations of its shareholders, partners, and customers.

PVTrans

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