Hanoi, October 28, 2020, Vinhomes Joint Stock Company (ticker “VHM”) released its consolidated financial statements of the first 9 months of 2020 (9M2020) prepared in accordance with the Vietnamese Accounting Standards (VAS).
In the first nine months, consolidated net revenue reached VND 49,378 billion, increased by 31% as compared to the same period of 2019, thanks to deliveries of residential units at Vinhomes Ocean Park, Vinhomes Grand Park, Vinhomes Smart City and Vinhomes Marina. Converted consolidated net revenue of the first 9 months of 2020, which includes revenue from Vinhomes’ business activities, business cooperation contracts (BCC) and transfer of projects recognized as financial income, reached VND 62,565 billion, also up 19% compared to the same period of 2019.
In the first nine months, consolidated profit before tax was VND 22,199 billion, and consolidated profit after tax attributable to shareholders of the parent reached VND 16,337 billion, representing 6% and 7% increases compared to those of 9M2019 respectively. In the third quarter of 2020, consolidated profit before tax reached VND 7,502 billion, up by 64% compared to the previous quarter. Earnings per share (EPS) in the first nine months of 2020 was VND 4,966, up 9% compared to that of the same period of 2019.
As of September 30, 2020, Vinhomes had a total consolidated asset of VND 220,509 billion, and a total consolidated equity of VND 78,779 billion, representing increases of 12% and 22% respectively compared to the balances as of December 31, 2019.
In the third quarter of 2020, Vinhomes launched The Origami, a high-end apartment complex at Vinhomes Grand Park. As of 14 October 2020, more than 4,500 units have been sold at an absorption rate of more than 90% with the vast majority of buyers being Vietnamese.
In the North, Vinhomes continued to launch new sections/towers at its mega projects. In the third quarter, Vinhomes Smart City saw the launch of The Grand Sapphire section at the very heart of the mega project, with greenery and watery space covering two thirds of the section’s site area. Vinhomes Ocean Park launched the first tower equipped with the Smart Home system – S1.02 in the Sapphire by the Sea zone.
In 3Q2020, Vinhomes’ three mega projects have delivered nearly 10,400 apartments, villas and shop houses on track with the quality and schedule committed with the customers. A similar number of units are scheduled for hand-over in the last quarter of the year.
Upon all these impressive achievements, Vinhomes continues to be the leader in “Top 10 Reputable Real Estate Developers 2020” by Vietnam Report and shortlisted by Forbes for the second consecutive year in the “Top 10 Leading Brands in Vietnam 2020”, joined by Vincom Retail, with a brand value reaching US$ 413 million.