Where does Vingroup’s record revenue of $6.6 billion come from?

In the past year, all 6 core business sectors of Vingroup have reached their peak in terms of revenue. Among them, the real estate transfer and manufacturing sectors have experienced the strongest growth.


Vingroup Reports Record Revenue of VNĐ 161.634 Trillion in 2023

Vingroup has recently announced its financial report for the fourth quarter of 2023, with a net revenue of over VNĐ 27.4 trillion, bringing the total consolidated net revenue for the year to VNĐ 161.634 trillion, equivalent to approximately $6.6 billion.

This is Vingroup’s largest revenue to date, marking a strong growth trend after 4 years of stagnation.

According to Vingroup, all 6 main business sectors have achieved record revenue in 2023.

In particular, the real estate transfer segment has increased by 59% compared to the previous year, mainly due to the strong handover of low-rise real estate units in the Vinhomes Ocean Park 2 and Vinhomes Ocean Park 3 projects. As a result, the real estate transfer segment has brought in over VNĐ 94 trillion, accounting for 58% of the total revenue structure.

The second is the production segment, with the sales volume of electric vehicles also soaring. In the fourth quarter of 2023, VinFast delivered 13,513 electric vehicles, bringing the total number of electric vehicles delivered for the year to 34,855. The total revenue of the production segment is VNĐ 28.419 trillion, with a growth rate of 125%.

In the retail real estate sector, Vincom Retail recorded high growth in both revenue and profit compared to the previous year, with Vincom Retail’s net revenue and after-tax profit reaching VNĐ 9.791 trillion and VNĐ 4.409 trillion, representing growth rates of 33% and 59% respectively compared to 2022.

In terms of revenue contribution, the real estate transfer segment remains the pillar, accounting for 58.4%, an increase compared to 2022.

The production segment has increased its proportion, accounting for 17.6%, the highest ever.

In the context of both real estate transfer and production sectors increasing their revenue, the proportion of revenue from real estate rental, resorts, hospitals, and education has decreased, despite reaching new revenue peaks last year.