CenLand’s 2023 Financial Performance: A Mixed Bag Amidst Market Challenges
CenLand has reported its financial results for the year 2023, reflecting the impact of macroeconomic headwinds on the real estate market. The company faced a decrease in revenue and net income compared to previous years.
Total revenue for the year amounted to VND 1,026 billion, marking a significant decline. Net revenue stood at VND 934 billion, accompanied by a sharp reduction in net income of over VND 2 billion.
**Performance of CenLand’s Subsidiaries:**
**Cen Homes Real Estate E-commerce Company Limited**
As an online property marketplace, Cen Homes offers a comprehensive range of real estate listings and services, including buying, renting, and property valuation. The company aims to empower customers throughout their property transactions.
In 2023, Cen Homes generated revenue of VND 35.66 billion and net income after tax (NIAT) of -VND 189 million.
**Ngôi Sao Mới Media and Entertainment Joint Stock Company**
Established in 2010, Ngôi Sao Mới Media and Entertainment Joint Stock Company is a leading provider of marketing and communication services for the real estate industry in Hanoi.
The company has worked with over 100 real estate developers on more than 500 completed projects. In 2023, Ngôi Sao Mới Media and Entertainment Joint Stock Company reported total assets of VND 68.79 billion, net revenue of VND 9.66 billion, and NIAT of -VND 110 million.
**Cen Saigon Real Estate Joint Stock Company**
Operating in the Ho Chi Minh City real estate market, Cen Saigon is a leading property distribution company. It partners with renowned developers such as Khang Điền, Hà Đô, and Phú Long.
In 2023, Cen Saigon recorded revenue of VND 47.55 billion and NIAT of over VND 896 million.
**Cen Cuckoo Company Limited**
As a full-service property management and servicing company, Cen Cuckoo manages residential and commercial developments across Vietnam.
In 2023, Cen Cuckoo reported revenue of VND 33.57 billion.
**Cen Prime Company Limited**
Cen Prime specializes in real estate brokerage, consultancy, and auction services. The company did not record any revenue in 2023.
**Cen BSM Partner Management Company Limited**
Cen Land holds a 100% stake in Cen BSM, a company dedicated to managing and expanding Cen-branded franchise companies throughout Vietnam.
In 2023, Cen BSM reported net revenue of VND 48.76 billion.
**Cen Academy Joint Stock Company**
Cen Academy is a leading German language institute in Vietnam and Asia, offering training and study abroad consulting services.
In 2023, Cen Academy saw its revenue surge nearly fourfold to VND 37.73 billion, while NIAT reached over VND 538 million.
**Cen HCM Joint Stock Company**
Established in 2022, Cen HCM aims to become the exclusive distribution partner for Vingroup products in southern Vietnam. It represents major developers such as Vinhomes, Novaland, and Khang Điền.
In 2023, Cen HCM reported revenue of VND 24.66 billion.
Pho Xanh Group Real Estate Services and Investment Joint Stock Company
