VINHOMES’ 4Q2019 EARNINGS ANNOUNCEMENT

PRESS RELEASE

VINHOMES’ 4Q2019 EARNINGS ANNOUNCEMENT

Hanoi, January 30, 2020, Vinhomes Joint Stock Company (“Vinhomes” or “the Company”) (ticker “VHM”) released its consolidated financial statements of the fourth quarter of 2019 prepared in accordance with Vietnamese Accounting Standards (VAS).

In 4Q2019, consolidated net revenue was VND 14.2 trillion, a decrease of 12.8% year-on-year; however, profit before tax and profit after tax and minority interests were VND 8.645 trillion and VND 5.981 trillion respectively, increasing 78% and 132% compared to same period in 2018. VHM reported robust profitability growth despite lower revenue because of better margins for projects being recognized in 2019, and successful bulk sale transactions during the year.

Revenue from sale of inventory properties in 4Q2019 was VND 13.2 trillion, also lower than the same period in 2018 for the same reason mentioned above. Revenue from leasing investment properties and rendering real estate management services in 4Q2019 were VND 630 billion, an increase of 57% year-on-year.

In 2019, revenues from Vinhomes’ own projects and projects under business cooperation contracts with Vingroup and its subsidiaries recorded a total of VND 67.3 trillion. Of which, Vinhomes’ consolidated net revenue from was VND 51.8 trillion, an increase of 34% year-on-year, and revenue from cooperation projects was VND 15.5 trillion.

Vinhomes’ consolidated profit after tax was VND 24.2 trillion, 118% of the company’s budget, and an increase of 49% compared to 2018. The Company’s unconsolidated profit after tax was VND 21.3 trillion, an increase 49% compared to 2018. Earnings per share (EPS) in 2019 was VND 6,369, an increase of 41% compared to 2018.

As of December 31, 2019, Vinhomes had total consolidated assets of VND 197.2 trillion, and total equity of VND 64.756 trillion, increasing 65% and 35% respectively compared to 2018.

In 4Q2019, Vinhomes organized new launches in the Vinhomes Symphony project – a high-end condominium complex adjacent to the Vinhomes Riverside mixed-use project in Hanoi – and the Sapphire and Ruby segments in the mega projects Vinhomes Smart City and Vinhomes Ocean Park. Vinhomes Symphony has a take-up rate of 83% out of nearly 800 units offered for sale. As of December 31, 2019, Vinhomes total unbilled bookings were VND 91.4 trillion, an increase of 31% year-on-year.

2019 was a record year during which Vinhomes launched several new products and projects, and improved greatly in scale and quality with several market-first product offerings in Vietnam. In the fourth quarter of 2019 alone, Vinhomes receive three consecutive records for the Vinhomes Ocean Park project in Gia Lam, Hanoi, including “World’s largest man-made saltwater and freshwater lakes with white sand surrounding”, “Vietnam’s largest saltwater lake”, and “Vietnam’s largest lake with white sand surrounding”. The Vinhomes Smart City project also set a record for “The residential project with the central park having the most diversified sports theme in Vietnam” in 4Q2019. In an unprecedented gesture in the Vietnamese real estate market, Vinhomes issued residence cards to residents of the Vinhomes Ocean Park and Vinhomes Smart City mega projects so that they can enter and enjoy the diverse offerings of facilities.

In 2020, Vinhomes aims to improve operational leverage and increase company value by optimizing customer experience, providing additional value-added services and ancillary products and promoting residential leasing services for homebuyers. Besides existing competencies, Vinhomes is looking into investing in industrial real estate as another potential source of profit and cashflow diversification and to bolster its recurring income portfolio. On the macro front, FDI inflows to Vietnam continued to increase, reporting a CAGR of 15.8% in the period of 2014 – 2018, mainly in the manufacturing and processing segment. At the company level, an investment and development of an industrial real estate portfolio leverages Vinhomes’ experience in land banking, infrastructure development, and Vingroup’s ecosystem and Industrial and Technology nexus.