Donaco posts net revenue of US$8.2m for Q3

The company has reported EBITDA of AU$8.39m.

Australia.- Donaco International has shared its financial results for the three months to March 31. It’s reported that net revenue grew 30.1 per cent sequentially and 66.7 per cent year-on-year to AU$12.66m (US$8.2m).

Earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 66 per cent in quarter-on-quarter terms and 106.1 per cent year-on-year to AU$8.39m (US$5.5m). The Company said visitation numbers have stabilised at levels consistent with the previous quarter and before the Covid-19 pandemic.

DNA Star Vegas in Cambodia recorded net revenue of AU$8.82m (US$5.7m), up 44.1 per cent sequentially and 40.2 per cent year-on-year. Property level EBITDA was AU$6.63m (US$4.3m), up 83.7 per cent in quarter-on-quarter terms and nearly 59 per cent year-on-year.

The Aristo International Hotel in Vietnam recorded revenue of AU$3.84m (US$2.5m), up 6.4 per cent sequentially and 204.8 per cent from a year ago. Property EBITDA was AU$2.53m (US$1.6m), up 13 per cent quarter-on-quarter and 336 per cent when compared to last year. 

Donaco said it has maintained its focus on stringent financial management and ended the period with a cash position of AU$28.99m (US$18.9m), a 15.4 per cent increase from the last quarter.

Donaco’s non-executive chairman, Porntat Amatavivadhana, said: “Donaco’s operational execution and increase in quality player visitation fueled strong growth in our business in the March Quarter. Star Vegas continued to outperform, delivering considerable growth across property-level EBITDA and net revenue. The operation also saw an improvement in daily visitation and a reduction in operating expenses, which is a testament to our turnaround strategy.

“The Cambodian Government’s successful tourism campaign resulted in improved visitation numbers at Star Vegas. Similar positive results were seen in Vietnam, with our Aristo operation reporting consistent visitation in line with the December Quarter. Meanwhile, Aristo maintained stable financial metrics and moderate improvements across revenue, property level EBITDA and operating expenses, highlighting the asset’s operational efficiency.

“Looking ahead, we are confident in Donaco’s ability to deliver continued solid results, based on our focus on operational efficiencies and the positive tourism trends in the region.”

See also: Donaco posts net revenue of US$12.63m for first half of FY24