VINGROUP RELEASES FINANCIAL PERFORAMANCE FOR THE NINE MONTHS OF 2018

10/30/2018 11:05

Ha Noi, October 30, 2018, Vingroup Joint Stock Company (ticker “VIC”) released its interim consolidatd financial statements of the nine months of 2018 (9M2018) prepared in accordance with Vietnamese Accounting Standards (VAS).

Total consolidated net revenue for 9M2018 reached VND 84.148 trillion, increased by 47.2% year-on-year. Profit before tax was VND 8.825 trillion and profit after tax was VND3.295 trillion, increased by 72.1% and 11.2% year-on-year respectively.

Revenue from sale of inventory properties in 9M2018 was VND 57.021 trillion, increased by VND 18.948 trillion, or 49.8% growth year-on-year, mainly contributed by major projects including Vinhomes Golden River, Vinhomes The Harmony, Vinhomes Central Park and Vinhomes Green Bay.

Revenue in consumer retail (i.e. sale of goods in supermarkets and retail outlets) in 9M2018 was VND 12.890 trillion, increased by VND 3.740 trillion, or 40.9% growth year-on-year. Revenue from rendering hospitality and entertainment services was VND 6.049 trillion, up 43.1% year-on-year.

Revenue from retail leasing activities, education and healthcare services has maintained healthy growth year-on-year with growth rates ranging from 28.0% to 54.0%.

As of September 30, 2018, Vingroup had total assets of VND 268.230 trillion, owner’s equity of VND 98.110 trillion, increased by 25.5% and 86.7% as compared balances at year-end 2017, respectively.

The Group’s subsidiaries have continuously implemented new projects, expanding our presence across cities and provinces. Vinhomes introduced its first VinCity mega project – VinCity Ocean Park in Hanoi. With a total site area of 420ha, the project consists of over 44,000 apartments and nearly 2,400 villas following the modern and clean style of the Singapore urban space. In 3Q2018, the retail leasing arm, Vincom Retail, launched nine additional shopping malls, having 60 operational malls in 34 cities and provinces nationwide. Meanwhile, Vinpearl concurrently opened four city hotels in Hue, Quang Binh, Thanh Hoa and Lang Son and a Vinpearl Condotel property under the Discovery brand in Nha Trang. In the consumer retail segment, VinCommerce announced the acquisition of Fivimart, which owns 25 supermarkets, increasing the total number of supermarkets across its network to over 100.

In early October, VinFast made an impresstive debut with the unveiling of two SUV and sedan models at the 2018 Paris Motorshow, which subsequently went on to win AUTOBEST’s “A Star is Born” award. During the month, VinFast successfully closed a $950 million syndicated loan facility guaranteed by the German export credit agency Eurler Hermes to purchase machinery and equipment. VinFast remains on track to launch its electric motorcycles in the fourth quarter of 2018, and cars in the second half of 2019.