Vingroup reports record revenue of nearly 162,000 billion, with profits exceeding 2,000 billion in 2023.

Vingroup's revenue has seen a significant increase due to the sale of real estate in two major projects and electric cars.


Vingroup Corporation (stock code: VIC) has just announced its Q4/2023 financial statements. Accordingly, the total revenue for the year 2023 reached 161.634 trillion VND, an increase of 59% compared to the previous year, mainly due to the speed of delivery of low-rise real estate units at the Vinhomes Ocean Park 2 and Vinhomes Ocean Park 3 projects, as well as the strong growth in electric vehicle sales compared to the previous year. This is also the record revenue of this company.

Vingroup’s pre-tax profit in 2023 reached 13.681 trillion VND, and after-tax profit reached 2.051 trillion VND, fulfilling the business plan set at the annual General Meeting of Shareholders in 2023. As of December 31, 2023, Vingroup’s total assets reached 669.617 trillion VND, an increase of 16% compared to the beginning of the year.

In the Technology-Industry segment, 2023 marks an important milestone for VinFast in its strategy to enter the international market, as VinFast has officially become a publicly traded company on the NASDAQ exchange.

In Q4/2023, VinFast delivered 13.513 electric cars, an increase of 35% compared to the previous quarter. In the whole year, the company delivered a total of 34.855 electric cars, bringing the total number of delivered vehicles worldwide to 42.291 units since the first delivery in 2021.

In the North American market, VinFast has received 70 cooperation registrations from dealers across the United States and is preparing for the first delivery of the VF 9 in 2024.

VinFast’s successful listing in the U.S. is an important milestone for Vingroup in 2023.

In the Commercial Services segment, in the context of the Government continuing to implement many economic and consumption stimulus policies, the opening of the culinary – entertainment – shopping super complex Grand World in Ocean City, East Hanoi has become the center of attention, with a record of nearly 160,000 visitors coming to experience the New Year festival, demonstrating the attraction of this unique and unprecedented destination in the North.

Also in the early days of the new year 2024, Vinhomes continues to play a leading role in the market with practical commitments to the community by commencing construction of two large-scale social housing projects in Nam Trang Cat (Hai Phong) and Cam Ranh (Khanh Hoa) with a total scale of over 8,000 units for the two projects.

In 2023, with the main driving force coming from the delivery of products at Vinhomes Ocean Park 2 and Vinhomes Ocean Park 3, Vinhomes recorded the consolidated net revenue (including revenue from Vinhomes’ activities, business cooperation contracts and real estate transfers recognized as financial income) reached 121.379 trillion VND, an increase of 49% compared to 2022.

In the Retail Real Estate sector, Vincom Retail recorded high growth in both revenue and profit compared to the previous year, with net revenue and after-tax profit of Vincom Retail reaching 9.791 trillion VND and 4.409 trillion VND, respectively, an increase of 33% and 59% compared to 2022.

In the Tourism and Resort sector, as the Vietnamese tourism industry continues to recover strongly with domestic tourist arrivals in 2023 surpassing pre-pandemic levels, foreign tourist arrivals increasing by 3.5 times compared to the same period last year and exceeding the full-year plan, Vinpearl has continuously organized a series of high-class festive events at major tourist complexes (Nha Trang, Phu Quoc, and Nam Hoi An) to welcome Christmas 2023 and New Year 2024, with the highlight being the Wake Up Festival event series, affirming Vinpearl’s position as the number 1 experiential tourism system in Vietnam.

The Vinschool system continues to receive recognition for its quality education with 10 campuses certified by CIS. At the same time, the cooperation program between Vingroup and Brighton College has yielded results with the first campus being inaugurated at Vinhomes Ocean Park in August 2023.

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