Announcement of Business Results Quarter IV/2023

PRESS RELEASE

VINHOMES SURPASSED ANNUAL TARGET, ACHIEVING VND 33.3 TRILLION IN NET PROFIT FOR 2023

Hanoi, 29 January 2024, Vinhomes Joint Stock Company (ticker “VHM”) released its unaudited consolidated financial statements for the fourth quarter of 2023 in accordance with Vietnamese Accounting Standards (VAS). The results highlighted Vinhomes’ resilient business performance and solid financial position in light of the initial signs of real estate market’s recovery.

Vinhomes achieved a total consolidated net revenue of VND 103.3 trillion, marking a substantial 66% increase compared to the figures of 2022. Accordingly, total adjusted consolidated net revenue (including adjusted revenue of bulk sales transactions and business co-operation contracts (BCC) of which gains were recognized under financial income) reached VND 121.4 trillion, a remarkable 49% increase compared to the previous year. This impressive growth was primarily attributed to the timely deliveries of 9,800 low-rise units in Vinhomes Ocean Park 2 and 3. The consolidated profit after tax was VND 33.3 trillion, exceeding the year guidance and showcasing a 14% year-on-year growth.

Vinhomes continued to maintain a robust financial position, reporting total assets and owners' equity of VND 447 trillion and VND 182 trillion as of December 31, 2023. These figures represented a 24% and 23% increase compared to the financials as of December 31, 2022.

The grand opening of Grand World – the F&B, entertainment and shopping complex in Ocean City in the eastern part of Hanoi in the fourth quarter of 2023 garnered immense attention, with a record-breaking 160,000 visitors participating in the countdown festival, showcasing the appeal of this unique and innovative destination in the Northern region.

In addition, Vinhomes is committed to constantly advancing its services and amenities, with the goal of elevating the living standards of its urban residents.

The company has launched two community clubs, namely “Green – Civilized – Classy Living” and “Happy – Healthy Living”, which grant exclusive and exceptional benefits to Vinhomes urban residents across the country. At the same time, a partnership with Korea Global School (KGS) for two international inter-level education facilities in Vinhomes Ocean Park 1 (Hanoi) and Vinhomes Grand Park (HCMC) demonstrated our dedication to providing a world-class educational environment within our developments.

Moreover, the additional introduction of three free VinBus routes to Ocean City (Hanoi) and one VinBus route connecting District 1 with Vinhomes Grand Park (HCMC) as part of our collaboration with VinBus facilitated convenient connectivity for residents and visitors to explore the entertainment and shopping festivals within Vinhomes urban areas.

The final quarter of 2023 also witnessed the progressive development of multiple new facilities in Vinhomes’ urban area. A noteworthy development is Vincom Mega Mall Grand Park, which stands as the first and largest mall of “Life-Design Mall” model in the Southern region, scheduled to be inaugurated in April 2024. As a vital part of the infrastructure in the eastern leading urban area, the construction of the second-largest Vinmec International General Hospital in Ho Chi Minh City commenced in early November 2023.

Furthermore, two Grade A office towers at the core of Vinhomes Grand Park and Vinhomes Ocean Park 2 & 3 are also in progress, featuring cutting-edge technology and rigorous safety measures that comply with the highest standards to satisfy the growing demand for office spaces in major cities across Vietnam.

With relentless efforts to solidify our reputation as a leading real estate developer in Vietnam, Vinhomes was recognized by regionally prestigious awards. In October 2023, Vinhomes was delighted to be awarded two distinguished recognitions at the Asia Pacific Enterprise Awards (APEA) 2023: Asian Corporate Excellence Award and Inspirational Brand Award. These honors affirmed our outstanding efficiency in production and business operations, as well as the positive values created by our trusted and supported brand.

As we transition into 2024, we remain dedicated to reaffirming our leading position in the real estate sector, upon the robust foundation established in 2023. Our primary focus will persist in elevating the quality of life and enriching amenities for the communities.