Donaco posts net revenue of US$6.2m for Q3

The company has reported EBITDA of AU$5.7m (US$3.6m).

Australia.- Donaco International has shared its financial results for the three months to September 30. It’s reported that net revenue grew 40.7 per cent from AU$6.9m to AU$9.7m (US$6.2m) in quarter-on-quarter terms. Earnings before interest, taxes, depreciation and amortisation (EBITDA) grew from AU$2.4m to AU$5.7m (US$3.6m).

Donaco said its strategy to return operations to full capacity following the lifting of Covid-19 restrictions is almost completed with visitation numbers rebounding. DNA Star Vegas in Cambodia recorded net revenue of AU$7.24m (US$4.6m) for the quarter and property level EBITDA of AU$5.11m (US$3.2m), almost a threefold increase from the second quarter.

The Aristo International Hotel in Vietnam recorded revenue of AU$2.48m (US$1.5m) and property level EBITDA of AU$1.22m (US$778,316). The company said Aristo is on track to reach full operational capacity in the current quarter.

The company noted that, during the period, it appointed Ms Joan Dabon as company secretary. Dabon is a chartered secretary with over seven years’ experience in providing company secretarial and corporate advisory services to ASX listed companies.

Donaco’s non-executive chairman, Porntat Amatavivadhana, said: “Donaco has continued its strong momentum and turnaround following from Covid-19, and this is reflected in our September Quarter. Group net revenue was up more than 40 per cent compared to the June Quarter, and Group EBITDA more than doubled in the same period. 

“The results highlight the effectiveness of our turnaround strategy and operational execution as the business delivers improved performance. I am pleased to report that the outlook for our businesses remains positive. The increase in travel from China to Vietnam provides a promising outlook as we’ve entered the 2024 financial year. 

“Moreover, the recently launched tourism campaign by the Cambodian Government aimed at attracting Thai visitors is a highly encouraging development for our Star Vegas casino, which is poised to benefit significantly from increased tourism in the region.”