Vietnam Railways Corporation Surpasses Annual Revenue with Record Semi-Annual Income of VND 4.5 Billion

Vietnam Railways Corporation (VNR) reported that it has achieved record semi-annual revenue this year, with a daily average of nearly VND 25 billion. The company’s revenue for the first 6 months of the year reached over VND 4,500 billion, representing an increase of more than 10% compared to the same period in 2023. This is a significant achievement for VNR, as it surpasses the annual revenue for the 2019-2021 period, when the company averaged more than VND 24.7 billion per day.

VNR aims to earn VND 6,258 billion by the end of the year and has already completed nearly 72% of its plan. However, the company has not yet announced its 6-month profit figure. The management board noted that passenger transport output in the first half of the year increased by nearly 21% compared to the same period last year. During Tet alone, VNR sold over 650,000 train tickets and earned nearly VND 401 billion, which is a whopping 7.5% higher than the same period last year.

To achieve its goals, VNR has put into operation specialized train pairs such as the “heritage connection” train on the Hue – Da Nang route and charter trains with customized itineraries and services. Additionally, VNR has implemented solutions to increase international freight transport output by exploiting more Vietnam – China intermodal transport products.

However, challenges have arisen in recent times for Vietnam’s railway industry. Landslides at Bai Gio and Chi Thanh tunnels caused congestion on Hanoi – Ho Chi Minh City railway line, leading to additional costs for repairs and indirect damage totaling more than VND 106 billion. Despite these setbacks, Vietnam Railway Corporation remains resilient and continues to grow stronger each day.

The corporation consists of several subsidiaries, affiliated units, and joint ventures and associates. Last year saw a significant turnaround after three years of losses when Vietnam Railway Corporation managed to escape losses with a profit of VND 77 billion after recording negative profits in previous years with losses exceeding VND