Vinhomes Announced Business and Financial Results for the First 9 Months Of 2019
Hanoi, October 29, 2019, Vinhomes Joint Stock Company (ticker “VHM”) released its unaudited consolidated financial statements of the nine-month period ended 30 September 2019 prepared in accordance with Vietnamese Accounting Standards (VAS).
In the nine-month period, consolidated net revenue and profit after tax attributable to shareholders of the parent were VND 37.642 trillion and VND 15.323 trillion respectively.
Revenue from sale of inventory properties in this period was VND 34.957 trillion, accounting for 93% of total revenue. Projects under business cooperation contracts (“BCC”) with Vingroup and its subsidiaries, including Vinhomes The Harmony, Vinhomes Imperia, Vinhomes Dragon Bay, Vinhomes Star City Thanh Hoa and Vinhomes Skylake, reported total revenue of VND 13.559 trillion. Besides, revenue from leasing investment properties and from rendering real estate management services was VND 2.016 trillion. In this period, consolidated profit before tax was VND 21.013 trillion, approximately 41% higher than the same period in 2018.
Contracted sale, including both contract value of both retail sale units and transaction value of bulk sale, were VND 66.552 trillion during the nine-month period ended September 30, 2019, an increase of 177% over the same period of last year.
As at September 30, 2019, Vinhomes had total consolidated assets of VND 161.662 trillion, and total equity of VND 63.483 trillion, an increase of VND 41.973 trillion and VND 15.338 trillion respectively compared to the balances as at the end of 2018.
In 3Q2019, Vinhomes has organized a series of marketing and community events that leverages the beautiful landscape at three mega-city projects namely Vinhomes Grand Park, Vinhomes Smart City, and Vinhomes Ocean Park.
In July 2019, the Vinhomes Grand Park project was launched for sales and immediately set a record on Ho Chi Minh City’s real estate market by successfully selling more than 10,000 units in only 17 days, recording absorption rate of 100%. More marketing events will be held at Vinhomes Grand Park in 4Q2019 on the back of positive sales momentum.
In Hanoi, the 6-hectare Japanese Garden at Vinhomes Smart City project opened in September 2019, introducing a record-setting 5,000-lantern garden, a forest of valuable Buddhist pine trees, a man-made mountain, and a 12-meter high stone cliff. Vinhomes also organized a series of entertainment events attracting over 24,000 potential homebuyers and resulted in double monthly sales.
At Vinhomes Ocean Park, after large-scale launch events in May 2019 organized around the central lake, the project continued to be a destination for various types of activities such as beach party, BBQ party, Mid-autumn Festival in the third quarter of 2019. Thousands of customers also visited the project site and show rooms during weekends. On 14 July 2019, the Sapphire 1 zone was launched, offering attractive products located at the heart of this ocean city with direct view to the 24.5ha central reservoir.
In addition to robust retail sales, wholesale activities continued to be strong in 3Q2019 at Vinhomes mega projects. Specifically, five blocks of Vinhomes Smart City and 21 blocks of Vinhomes Grand Park have been sold to sub-developers, providing more options for residents at Vinhomes mega projects.
Vinhomes will issue Resident cards to all customers of Vinhomes Ocean Park and Vinhomes Smart City who have signed sales and purchase agreement so that they can freely enter and enjoy the projects’ landscape and infrastructure before hand-over instead of having to wait until the handover date.
Other Vinhomes projects in Hanoi, Ho Chi Minh City and other cities were also warmly received.
In 4Q2019, Vinhomes plans to launch a few new projects to offer diversity to both homebuyers and investors.