Vinhomes Released Financial Results For 1H2020

Hanoi, July 25, 2020, Vinhomes Joint Stock Company (ticker “VHM”) released its consolidated financial statements of the first half of 2020 (1H2020) prepared in accordance with the Vietnamese Accounting Standards (VAS).

In the first-six month, converted consolidated net revenue, including revenue from Vinhomes’ business activities, business cooperation contracts (BCC) and transfer of projects recognized as financial income, reached VND 35.611 trillion. Converted revenue from sale of inventory properties in the first half of 2020 was VND 34.062 trillion, accounting for 96% of the converted consolidated net revenue.

In the first six months, consolidated profit before tax was VND 15.154 trillion, and consolidated profit after tax attributable to shareholders of the parent reached VND 10.602 trillion, representing 13% and 8% increase compared to those of 1H2019 respectively. Earnings per share (EPS) in the first half of 2020 was VND 3,223, up 10% compared to the same period of 2019.

As of June 30, 2020, Vinhomes had a total consolidated asset of VND 225.577 trillion, and a total consolidated equity of VND 76.153 trillion, representing increases of 14% and 18% respectively compared to the balances as of December 31, 2019.

In 2Q2020, in the North, the Company successfully launched a number of residential towers at Vinhomes Ocean Park and Vinhomes Smart City. In the South, the Company officially launched the two low-rise compounds, Manhattan and Manhattan Glory, at Vinhomes Grand Park.

Vinhomes introduced the Vinhomes’ e-commerce platform, Vinhomes Online, at online.vinhomes.vn at the beginning of April – during the period of social distancing. This has helped maintain the Company’s sales momentum even when the sales force was not able to meet the customers directly.

Construction has been progressing on track, despite of a brief lockdown in the beginning of April due to the social distancing order, therefore the delivery schedule at the three mega projects Vinhomes Ocean Park, Vinhomes Smart City and Vinhomes Grand Park will proceed as planned.

In June, for the first time, Vinhomes successfully brought about sales launches with the “3 in 1” format: offline event, livestream on the projects’ Fan-page and online purchase on the new e-commerce platform online.vinhomes.vn.

This breakthrough initiative has brought impressive sales results.  Notably, the launches of S1.08 and S1.07 towers of the Sapphire 1 compound at Vinhomes Ocean Park have set a new sales record with nearly 50% and 60% of the launched units sold within 60 minutes.

On top of the remarkable achievements in residential real estates that have helped Vinhomes maintain its leading position in the market, in the second quarter of 2020, the Company has received the land handover decision for the Extended Suppliers Park in Hai Phong. The Company is also in the process of completing relevant procedures to put a number of other industrial park projects into operation soon.