Vinhomes reported VND 11.9 trillion in net profit after tax

(SGI) - Vinhomes Joint Stock Company (ticker “VHM”) released its unaudited consolidated financial statements for the first quarter of 2023 in accordance with Vietnamese Accounting Standards (VAS).
Vinhomes reported VND 11.9 trillion in net profit after tax

In the first quarter of 2023, total consolidated net revenue reached VND 29.3 trillion, representing an increase of 228% over the same period last year, mostly thanks to the delivery of over 2,600 low-rise units at Vinhomes Ocean Park 2.

Total pro-forma consolidated net revenue, including pro-forma revenue of bulk sales transactions and business co-operation contracts (BCCs), of which gains were recognized under the finance income, amounted to VND 42.5 trillion, a 198% increase over the same period last year, equivalent to 42% of full year guidance. Consolidated profit after tax was VND 11.9 trillion, an increase of 152% over the same period last year. Earnings per share (EPS) in the first quarter of 2023 were VND 2,737.

Vinhomes had total consolidated assets and owners’ equity of VND 378 trillion and VND 160 trillion, respectively, as of March 31, 2023, an increase of 4.4% and 8.0% over the figures as of December 31, 2022.

In the first quarter of 2023, Vinhomes continues to make a mark with various unique activities for residents. On March 11, 2023, Vinhomes held a ceremony for ownership certificate handover for 1,000 homes in The Rainbow subdivision at Vinhomes Grand Park, Ho Chi Minh City. This event has affirmed Vinhomes’ track record of delivering on its commitment to residents and customers.

Vinhomes also reinforces its position as the top property manager by continuing a series of community engagement programs, creating the most livable megacities. The most significant is the series of events to welcome the Year of the Cat Lunar New Year such as Color of the Sea, Spring Flower Festival, Ocean District Sports Day at Vinhomes Ocean Park, etc., with the participation of thousands of residents and customers.

At the end of March 2023, the World Records Union recognized the Royal Wave Park Complex of Vinhomes Ocean Park 2 as the world’s largest man-made wave saltwater lake complex in an urban area, providing residents with world-class living experiences.

Vinhomes also launched a new product in 1Q2023 – the first Mega Complex in Vinhomes Ocean Park 2 inspired by the world’s most famous luxury complex shopping streets. Mega Complex is expected to quickly contribute to the hustle and bustle of Vinhomes Ocean Park 2 as well as the 1,200-hectare ocean district – Vinhomes Ocean Park.

Vinhomes is recently honored as the leading brand in Vietnam’s Top 10 Real Estate Developers in 2023 by Vietnam Report for its efforts and achievements.

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