Donaco posts net revenue of US$6.44m for Q4
The company has reported an EBITDA of AU$5.06m (US$3.34m) for the three months to December 31.
Australia.- Donaco International has shared its financial results for the fourth quarter of the year 2023. It’s reported that net revenue grew from AU$9.7m (US$6.2m) to AU$9.73m (US$6.44m) in quarter-on-quarter terms. Earnings before interest, taxes, depreciation and amortisation (EBITDA) declined from AU$5.7m (US$3.6m) to AU$5.06m (US$3.34m) but was up 184 per cent in year-on-year terms.
The Aristo International Hotel in Vietnam recorded revenue of AU$3.61m (US$2.39m), up 45 per cent quarter-on-quarter, and property level EBITDA of AU$2.24m, up 83 per cent.
See also: Vietnam aims for 17-18 million tourists in 2024
Donaco has seen an increase in tourism for Aristo after the borders with China fully reopened. This has allowed the Company to capitalise on increased daily visitation numbers to the region. Tourism is expected to grow further over the next 12 months.
DNA Star Vegas in Cambodia recorded net revenue of AU$6.12m (US$4.05m) and property level EBITDA of AU$3.61m. The decline was attributed to lower visitation.
Donaco’s non-executive chairman, Porntat Amatavivadhana, said: “The December Quarter for Donaco represented a period of stringent financial management as the Company continues to report robust financial and visitation numbers.
“Aristo outperformed expectations, resulting in considerable net revenue and property level EBITDA growth, and high levels of tourism coming back to the region following the reopening of borders between China and Vietnam.
“The tourism campaign recently launched by the Cambodian Government has also been successful, leading to increased visitation from Thailand over the past three months.
“After a promising first half of FY2024, I am optimistic about the remainder of the financial year as our operations continue to strengthen over the coming months. I am confident that Donaco will continue to leverage the rise in tourism to the region, and that our turnaround strategy will deliver solid results.”
The company said Aristo is expected to benefit from increased tourism in 2025 following the opening of the Sapa airport in Lao Cai, located near the Aristo operation.
It added: “Once opened, the airport is projected to increase visitation to the region by up to 1.5 million passengers annually, providing an influx of tourism. The major tourism campaign launched by the Cambodian Government has positively impacted operations at Star Vegas, with stable visitation numbers over the quarter.”
