Banacab, the operator of the Ba Na Hills cable car and resort, recently announced its financial results for the first half of the year, showing a profit after tax of nearly 846.5 billion VND, a 78% increase compared to the same period last year. This figure surpasses the total profit for both 2022 and 2024, and is close to the 2023 total. The company's average daily profit was almost 4.7 billion VND. A Banacab representative attributed these results to steady growth in gross profit from core business operations.

Consequently, the company's equity also increased by nearly 27% to over 12,038 billion VND, of which over 4,293 billion VND represents undistributed profits.

Liabilities increased by 9% to over 23,625 billion VND during this period. Approximately two-thirds of this consists of bank loans. Outstanding bond debt decreased by almost 24% to nearly 3,886 billion VND. In the first half of the year, Banacab allocated over 226 billion VND for interest payments to bondholders and reported no late payments.

Golden Bridge, one of the famous destinations in the Ba Na Hills ecological resort. Photo: Sun Group

Golden Bridge, one of the famous destinations in the Ba Na Hills ecological resort. Photo: Sun Group

Banacab, a subsidiary of Sun Group, is the investor behind the Ba Na - Suoi Mo ecological resort complex in Da Nang. This project includes the mountaintop resort, known as Ba Na Hills, and the cable car system.

Ba Na Hills has been operating since 2009, featuring a single-cable car system once recognized as the world's longest. The mountaintop resort is one of Da Nang's most prominent attractions, welcoming tens of thousands of visitors during holidays. The resort is also known for its Golden Bridge, ranked among the world's most iconic bridges.

In May, the Ba Na - Suoi Mo resort project received approval for an investment increase to nearly 52,000 billion VND (equivalent to 2 billion USD). The expansion will include commercial, tourism, and service facilities, over 7,000 hotel rooms, entertainment areas, two additional cable car lines (bringing the total to 10), stations, technical infrastructure, social infrastructure, and other supporting facilities.

In late August, construction began on phase two of the Ba Na resort and entertainment complex, with a total investment of 52,000 billion VND for this phase.

Tat Dat