Vinhomes Corporation (stock symbol: VHM) has just announced its fourth-quarter 2023 business results. Specifically, the company’s net revenue for 2023 reached VND 103.3 trillion, a 66% increase compared to 2022. This is also the record revenue level of the company in the past year.
The consolidated net revenue (including revenue from Vinhomes’ activities, business cooperation contracts, and real estate transfers recorded as financial revenue) reached VND 121.4 trillion, a 49% increase compared to 2022, mainly thanks to the timely handover of 9,800 low-rise real estate units in Vinhomes Ocean Park 2 and 3 projects.
The company’s consolidated after-tax profit for 2023 exceeded the set plan, reaching VND 33.3 trillion, a 14% increase compared to the previous year. Specifically, the company made a profit of VND 605 billion in the fourth quarter of 2023, a 93% decrease compared to the fourth quarter of 2022.
As of December 31, 2023, Vinhomes’ financial position continued to remain strong with total assets and owner’s equity of VND 447 trillion and VND 182 trillion, representing a 24% and 23% increase, respectively, compared to December 31, 2022.
In the final quarter of the year, the grand opening of the culinary-entertainment-shopping complex, Grand World, in Ocean City, East Hanoi, has become a focal point, attracting a record 160,000 visitors to experience the New Year festival. This proves the unique and unprecedented appeal of this destination in the North.
The company has established two Community Clubs, “Green-Living-Elegance” and “Joyful-Healthy,” to bring exclusive privileges to residents in Vinhomes’ urban areas nationwide. At the same time, it signed a cooperation agreement with Korea Global School (KGS) to develop two international compound education campuses in Vinhomes Ocean Park 1, Hanoi, and Vinhomes Grand Park, Ho Chi Minh City, aiming to create a world-class educational environment within Vinhomes’ urban areas.
In addition, Vinhomes also partnered with VinBus to operate 3 additional free electric bus routes to Ocean City (Hanoi) and 1 VinBus route connecting District 1 with Vinhomes Grand Park (Ho Chi Minh City), providing convenient connectivity for residents and visitors to experience events, festivities, and shopping in Vinhomes’ metropolitan areas.
The fourth quarter of 2023 also laid a crucial foundation for many large-scale utility projects in Vinhomes’ metropolitan areas. One of the notable projects is Vincom Mega Mall Grand Park, the first and largest “Life-Design Mall” in the South, set to open in April 2024. Alongside other important infrastructure projects that affirm the stature of the leading urban area in East Ho Chi Minh City, the construction of the second-largest Vinmec International General Hospital in Ho Chi Minh City commenced in early November 2023.
Furthermore, the construction of two Grade A office towers in the heart of Vinhomes Grand Park and the entrance of Vinhomes Ocean Park 2&3 is also underway. These projects apply advanced technology and superior safety features according to the strictest criteria to meet the growing demand for promising offices in Vietnam’s major cities.
