Vinhomes: Record-breaking profit of 33.1 trillion VND in 2023

In 2023, Vinhomes Joint Stock Company (HOSE: VHM) achieved a net profit of over 33.1 trillion Vietnamese dong, the highest figure on the stock exchange as of the deadline for announcing the Q4/2023 financial statements.

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The consolidated net revenue of Vinhomes in 2023 reached VND 103.3 trillion, recording a growth rate of 66% compared to 2022. Accordingly, the total consolidated net revenue (including revenue from Vinhomes’ activities, business cooperation contracts (BCC), and real estate transfers recognized as financial revenue) reached VND 121.4 trillion, an increase of 49% compared to 2022, mostly due to the timely handover of 9,800 low-rise real estate units in the Vinhomes Ocean Park 2 and 3 projects. The consolidated net profit of the Company in 2023 reached VND 33.125 trillion, an increase of 15% compared to the previous year.

Net profit of VHM in the past 5 years

Source: VietstockFinance, Unit: Billion VND

As of December 31, 2023, Vinhomes’ financial position continued to be strong with the total assets and equity of Vinhomes reaching VND 447 trillion and VND 182 trillion respectively, an increase of 24% and 23% compared to December 31, 2022.

At the end of 2023, VHM had nearly VND 18 trillion in cash, a slight increase compared to the beginning of the year. The value of inventory decreased by over VND 10 trillion, reaching VND 52.3 trillion, primarily consisting of under-construction real estate for sale. In addition, the Company had VND 54.5 trillion in short-term prepayments from customers.

In the fourth quarter of 2023, VHM inaugurated the Grand World – a culinary, entertainment, and shopping complex located in the “destination city” Ocean City in East Hanoi, attracting 160,000 visitors. Moving into 2024, Vinhomes will continue to strengthen its leading position in the real estate sector, with a focus on improving the quality of life and enhancing amenities for the resident community as the core objective.

Phuong Chau

SOURCEvietstock
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