4Q2018 Earnings Announcement

Hanoi, January 30, 2019, Vinhomes Joint Stock Company (ticker “VHM”) released its consolidated financial statements of the fourth quarter of 2018 (4Q2018) prepared in accordance with Vietnamese Accounting Standards (VAS).

In 4Q2018, consolidated net revenue reached VND 16.400 trillion, an increase of 47% year-on-year^(*). Profit before tax and profit after tax attributable to shareholders of the parent were VND 4.508 trillion and VND 2.347 trillion, respectively.

Revenue from sale of inventory properties was VND 15.432 trillion, an increase of 40% year-on-year^(*). Revenue from leasing investment properties and revenue from rendering real estate management services, which was not available in 2017, were VND 550 billion in 4Q2018. Income from business cooperation contracts (BCC) was VND 2.533 trillion, an increase of 429% year-on-year^(*).

For the fiscal year 2018, total consolidated net revenue was VND 38.806 trillion, an increase of 27% compared to 2017^(*). Besides, revenue from business cooperation contracts (BCC) with Vingroup and subsidiaries (including Vinhomes Golden River, Vinhomes The Harmony, Vinhomes Imperia, Vinhomes Dragon Bay and Vinhomes Star City Thanh Hoa) was VND 36.203 trillion. As such, revenues from Vinhomes projects and BCC projects totalled VND 75.009 trillion in 2018^(**), an increase of 146% year-on-year. Profit after tax of the parent company was VND 14.234 trillion, an increase of 27% year-on-year^(*). Earnings per share (EPS) in 2018 was VND 4,551.

As at December 31, 2018, Vinhomes had total consolidated assets of VND 117.808 trillion and total equity of VND 48.119 trillion, an increase of 130% and 375% respectively compared to the balances as at the end of 2017.

In the 4^th quarter, Vinhomes introduced VinCity Sportia in the new CBD in the western part of Hanoi and Vinhomes Marina in Hai Phong. Located on Thang Long Avenue, in the Tay Mo, Dai Mo area, the 280ha development has a mega sports complex, a lot of greeneries, open spaces, and a plethora of unique amenities, resulting in a low construction density of 14.7%. Meanwhile, the high-end project Vinhomes Marina is the first and only Mediterranean-style urban complex in Hai Phong, the third largest city in Vietnam, boasting over 1,000 villas, townhouses and shop houses, as well as a 7.2ha conditioning lake and other exciting facilities.

In 2018, Vinhomes launched four Vinhomes projects (including Vinhomes West Point, Vinhomes Star City Thanh Hoa, Vinhomes New Center Ha Tinh and Vinhomes Marina), which target high-end segment, and two mega VinCity projects, which target mid-end segments. These new projects received very strong customer interest, of which VinCity projects have recorded good sell through rates in 4Q2018. In 2018, Vinhomes pre-sold and received deposits for over 15,000 units and delivered 10,980 units, an increase of 44% and 11% respectively on a year-on-year basis.

Also in 2018, Vinhomes Riverside Eco-urban Complex was named the World’s Best Property at the 2018 International Property Award (IPA) – the most prestigious among IPA’s awards. This award is not only the first global award for Vinhomes, but also an endorsement for the quality of development and services at mixed-use properties in Vietnam generally.

Note:

(*) Comparable figures in 2017 was pro-forma based on a principle of using the similar structure of 2018’s reporting period.

(**) Revenues from BCC projects are not consolidated on Vinhomes’ income statements, but income from BCC projects are recognized as financial income.