Announcement of Business Results Quarter III/2024

PRESS RELEASE

VINHOMES REPORTED VND 20,600 BILLION PROFIT AFTER TAX IN 9M2024

Hanoi, October 30, 2024, Vinhomes Joint Stock Company (ticker “VHM”) released its unaudited Consolidated Financial statements for the 3rd quarter of 2024, in accordance with Vietnamese Accounting Standards (VAS). The Company maintained resilient business performance while being poised to seize new opportunities in the real estate market. 

In the first nine months of 2024, Vinhomes posted total consolidated net revenue of VND 69,910 billion and total adjusted net revenue (including revenue from Vinhomes’ operations and business cooperation contracts) of VND 90,923 billion. Consolidated profit after tax of Vinhomes totaled VND 20,600 billion. These results were attributable to the deliveries at Vinhomes Ocean Park 2 – 3 and the earnings recognition at Vinhomes Royal Island during the period.

Contracted sales reached VND 82,841 billion in the first nine months and total unbilled sales achieved VND 116,293 billion by the end of 3Q2024, primarily driven by strong sales performance across multiple mega projects. These are solid foundation for the growth of Vinhomes’ earnings in upcoming periods, especially when the real estate market is anticipated to further improve.

As of September 30, 2024, Vinhomes maintains a robust financial position, with total assets and equity amounting to VND 524,684 billion and VND 215,966 billion, representing increases of 18% and 18.3% respectively compared December 31, 2023.

Regarding presale activities, in 3Q2024, Vinhomes continued to inaugurate new precincts in its mega developments amidst the positive recovery of the real estate market. In particular, Vinhomes Royal Island (Vu Yen, Hai Phong) unveiled the Hoang Gia and Dao Vua sub-divisions, which boast some of the most impressive architecture. This event has cemented the project as a spotlight in the real estate market, achieving one of the highest sales rates in Northern Vietnam. Additionally, Vinhomes Royal Island set a record by officially handing over more than 500 commercial service units and shophouses in the Tai Loc subdivision. In Hanoi, Vinhomes Global Gate also received strong interest since launch, thanks to its strategic location in the Northeastern gateway and exceptional amenities. Meanwhile, on August 28, 2024, the Opus One subdivision in Vinhomes Grand Park (Thu Duc, Ho Chi Minh City), co-developed by Vinhomes and its Japanese partner, Samty, was officially launched, contributing to the condominium supply in the Southern market.

Regarding urban management, Vinhomes continues to demonstrate its leadership as Vietnam’s top property management brand through the “test” of Typhoon Yagi. Upon receiving information that Yagi would sweep through the Northern provinces, Vinhomes’ urban management boards, especially in Hanoi, Hai Phong and Quang Ninh, etc. promptly implemented disaster preparedness measures to ensure the safety of residents and their properties while maintaining uninterrupted daily life. Post-typhoon Yagi recovery solutions were also implemented by Vinhomes with the goal of rapidly restoring the general landscape and normalizing residents' lives.

On social responsibility initiatives, understanding the challenges faced by communities impacted by Yagi, Vinhomes actively participated in relief efforts to rebuild homes, schools and livelihoods in affected areas. From September 19 to September 30, Vinhomes and its partners joined the “Gieo Mầm Thiện Tâm” campaign initiated by Vingroup. Through a series of charitable activities, including an emotional concert at K-Town, Ocean City, which garnered 2 million views and raised nearly VND 22 billion. Previously, Vinhomes staff also joined 133,000 Vin employees in contributing 250 billion VND to support people facing hardships, loss of loved ones, and property damage caused by storms and floods.

In recognition of its outstanding contributions to the Vietnam real estate sector, Vinhomes was honored with the prestigious “Developer of the Year” award at the Dot Property Vietnam Awards 2024. Furthermore, Vinhomes was ranked among the Top 10 most valuable brands in Vietnam in 2024 by Brand Finance. These accolades affirm Vinhomes’ leadership role, its pioneering spirit and its continued efforts to inspire and shape the real estate landscape, solidifying its position as Vietnam’s leading real estate developer.