Announcement of 1Q2025 Business Results

PRESS RELEASE
VINHOMES REPORTS 1Q2025 REVENUE OF VND 15.7 TRILLION 

Hanoi, April 29, 2025 – Vinhomes JSC (HOSE: VHM) announced its consolidated financial statements for the first quarter of 2025, prepared in accordance with Vietnamese Accounting Standards (VAS), highlighting a stable business performance and a robust foundation as the real estate market enters a new growth cycle.

In Q1 2025, Vinhomes recorded consolidated net revenue of VND 15.7 trillion. Consolidated adjusted revenue – which includes income from business cooperation contracts and bulk sales recognized as financial income – reached VND 19.3 trillion, up 124% year-on-year. Net profit after tax came in at VND 2.7 trillion, an increase of 193% compared to 1Q2024. The key contributors to this quarter’s performance were continued handovers at Vinhomes Royal Island and Vinhomes Ocean Park 2-3. 

Q1 presales and unbilled bookings as of quarter-end reached VND 35 trillion and 120 trillion, respectively, representing increases of 116% and 7% compared to the same period last year, driven by strong performance at mega-urban projects, particularly Vinhomes Wonder City in western Hanoi, launched in mid-March. This provides a solid foundation to drive revenue and profit in the upcoming quarters for the Company.

At the 2025 Annual General Meeting, shareholders approved the business plan for the year, targeting VND 180 trillion in adjusted revenue and VND 42 trillion in post-tax profit.

As of March 31, 2025, Vinhomes maintained a solid financial position, with total assets and owner’s equity reaching VND 561.5 trillion and 223.4 trillion, respectively.

On the development front, Vinhomes officially launched its latest mega-urban project – Vinhomes Wonder City – in March 2025. The project offers a premium portfolio of low-rise residences backed by strong legal transparency. Strategically located in western Hanoi, Vinhomes Wonder City features high-end living standards and modern amenities. The project achieved exceptional sales performance upon launch, serving as a key driver of market liquidity in 2025. Notably, 92% of the units in the Hung Dong subzone were sold within just four days, while 70% of the Binh Minh subzone was absorbed on launch day, March 23, 2025.

In Ho Chi Minh City, Vinhomes Green Paradise in Can Gio commenced on April 19, 2025. Spanning 2,870 hectares with a projected population of 230,000, the project aims to set a new benchmark for ESG urban models, grounded in three pillars: green, smart, and ecological living. Earlier, on March 26, Vinhomes also broke ground on Vinhomes Green City (197.2 ha) in Hau Nghia, Duc Hoa, Long An province, marking a strategic expansion into northwestern HCMC and the Mekong Delta – a region poised for growth driven by public investment and transport infrastructure development.

As part of its destination development strategy aimed at enhancing project value, Vinhomes’ urban townships continued to shine as leading destinations for entertainment and culinary experiences in Vietnam during the Lunar New Year and early 2025 festival season. At Ocean City, the “Eastern Lights” Spring Festival, the largest of its kind in Vietnam, attracted over 10,000 visitors on opening day. The Ocean BBQ & Brew Festival at Sake Village also drew both domestic and international guests, offering a diverse culinary experience with 150 grilled dishes and 120 beer varieties across 64 booths. At Vinhomes Grand Park, the “Magical Tet” event welcomed more than 60,000 residents and millions of visitors. Meanwhile, Vinhomes Royal Island further strengthened its positioning as a premier venue for international events, hosting “Road to 8Wonder – The Next Icon”, which featured renowned K-pop star B.I and rising Vietnamese music talents such as Quang Hung MasterD, Rhyder, and Marzuz.

Vinhomes also accelerated investment in residential quality of life. At Vinhomes Royal Island, the premium Royal Marina yacht harbor was officially launched, alongside the connection of the Royal Bridge, marking the first anniversary of the project’s debut. Meanwhile, in Vinhomes Golden Avenue (Mong Cai, Quang Ninh), the exclusive Golden First Club for elite residents was inaugurated with a series of experiences.

In recognition of its relentless efforts, Vinhomes brand and its projects have been honored with three prestigious awards at the 5th Spring Real Estate Forum and the 2024–2025 Leading Real Estate Brand Awards. Additionally, Vinhomes continues to lead the industry, having been named one of the Top 10 Most Trusted Real Estate Developers for 2025 by Vietnam Report. This marks the third consecutive year that Vinhomes has received this recognition, reflecting the trust and high regard it holds within the market. Furthermore, in the ESG field, Vinhomes was awarded the "Enterprise for a Greener Community" prize at the inaugural Vietnam ESG Awards, reinforcing Vinhomes' leadership position in sustainable urban development and its pioneering role in integrating ESG criteria into operations.

With a decisive start to 2025, Vinhomes is committed to continuing its efforts to achieve the set objectives in the upcoming period, striving to complete the 2025 business plan recently approved by the General Shareholders’ Meeting, based on the positive outlook for the Vietnamese real estate market as it enters a new growth cycle.