PV Power (POW) completes 89.5% of revenue target
PV Power (POW) completes 89.5% of revenue target
PetroVietnam Power Corporation (PV Power) earned VND2.5 trillion (US$108 million) in revenue in the first month of this year.
This fulfilled 89.5 per cent of the month's target due to a reduction in revenue from Nhon Trach 1 and 2 power plants.
Regarding the investment project of Nhon Trach 3 and Nhon Trach 4, PV Power said the management board would continue to review the engineering-procurement-construction (EPC) bidding documents and site clearance documents of contractors. PV Power would also continue to supplement capital, negotiate gas sale and purchase contracts and power purchase agreements.
In February, PV Power plans to have an estimated power output of more than 1.46 billion kWh and expects revenue of VND2.3 trillion.
By the end of 2020, PV Power reached VND29.7 trillion in revenue and VND2.2 trillion in net profit, down 16 per cent and 13 per cent respectively compared to 2019.
Compared to the target set for 2020, it fulfilled 84 per cent of revenue target and exceeded profit target by 22 per cent.
On the market, shares of PV Power (POW) are being traded around VND12,950 per share.
