VINHOMES RELEASED FINANCIAL STATEMENTS FOR THE FIRST HALF OF 2022

VINHOMES RELEASED FINANCIAL STATEMENTS FOR THE FIRST HALF OF 2022

Hanoi, July 28, 2021, Vinhomes Joint Stock Company (ticker “VHM”) released its unaudited consolidated financial statements for the first half of 2022 in accordance with Vietnamese Accounting Standards (VAS) 

In the second quarter of 2022, Vinhomes successfully launched a new large-scale project Vinhomes Ocean Park 2 – The Empire during the Reunification Day and Labor Day holiday from April 30 to May 1. A series of events were held to stimulate demands, including a launch event on the holiday weekend attended by more than 30 strategic sales agencies. The project’s highlight is the world’s largest man-made wave pool of 18 ha Royal Wave Park that was opened on the same day of the launch. The Wave park’s opening and the ‘Hello Summer Ocean Park’ event attracted tens of thousands of visitors. By the end of June 2022, Vinhomes The Empire’s retail sales performed strongly, creating a record for contracted sales of VND 49 trillion, or USD 2.1 billion. 

As a result, cumulative unbilled bookings, the key driver for future revenue streams, was VND 129.3 trillion, an increase of 127% QoQ. Construction is on schedule, assuring Vinhomes being on track for handing over of residential units in the second half of 2022, and delivering on the full year targets.

However, due to timing difference of deliveries some precincts in existing large-scale projects including Vinhomes Ocean Park 1, Vinhomes Smart City and Vinhomes Grand Park, consolidated net revenue in the first six months on an adjusted basis, including revenue from Vinhomes' business activities, and underlying revenue of the business cooperation contracts (BCCs) and bulk sales transactions of which gain has been recognized as financial income, reached VND 18.95 trillion, lower on a year on year basis.

Consolidated profit before tax was VND 7.14 trillion, and consolidated profit after tax and minority interest was VND 5.05 trillion, representing 65% and 68% decreases compared to the same period last year, respectively. Earnings per share (EPS) in the first half of 2022 was VND 1,160.

As of June 30, 2022, total assets of Vinhomes reached VND 299.56 trillion, and total equity was VND 129.35 trillion, representing increases of 42% and 30% YoY.

On June 30, Vinhomes was awarded the BCI Asia Awards 2022. This is the 8^th consecutive time Vinhomes was honored as one of Vietnam Top 10 real estate developers in recognition of pioneering innovations in developing large-scale townships in Vietnam.

Vinhomes continued to organize community engagements frequently making Vinhomes’ projects the most livable townships in Vietnam. For example, ‘Festive Ocean Lagoon’ at Vinhomes Ocean Park 1 comprised of a series of beach activities, such as music festivals, children’ games, sports activities and food fairs, which transformed Vinhomes Ocean Park 1 into an exciting destination for weekend getaways that was very well-received by residents and customers.

Vinhomes accelerated the efforts to digitize sales and administrative activities. In June 2022, the electronic invitation platform integrated with QR code has supported check-in for more than 2,000 visitors attending Vinhomes events, offering customers convenience and optimizing costs.