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Vingroup (VIC) reached VND4,264 billion consolidated pre-tax profit in Q1/2023, up 121% yoy 

 Monday, May 22,2023

AsemconnectVietnam - Vingroup (stock code VIC) has announced its consolidated financial statements for the first quarter of 2023 in accordance with Vietnamese Accounting Standards (VAS).

Total consolidated net revenue converted, including revenue from real estate transfer recognized in financial income in the first quarter of 2023, reached VND50,271 billion, up 100% compared to the same period last year mainly thanks to the strong handover of low-rise real estate units at Vinhomes Ocean Park 2 project in this quarter, while investment real estate rental, hotel services, tourism, entertainment, health and education both recorded good growth. Consolidated pre-tax profit in the first quarter of 2023 reached VND4,264 billion, up 121% over the same period in 2022.
As of March 31, 2023, Vingroup's total assets reached VND596,877 billion, an increase of 3.4% compared to December 31, 2022.
In the fundraising activity, on March 29, 2023, Vingroup announced that it has just been honored by The Asset Triple A Country Awards as "The Best Issuer in Sustainable Finance" in 2022. At the same time, Vingroup also joins VinFast – a member company of the Group shares the “Best Green Loan” award for a syndicated loan of US500 million (including US400 million for Vingroup and US100 million for VinFast).
Although this is the first green syndicated loan to be mobilized for investment and business purposes, Vingroup and VinFast quickly received strong interest from the market. As a result, Vingroup and VinFast increased their mobilization scale from US300 million to US500 million, marking a new milestone in the Group's foreign capital mobilization. With these two prestigious awards, Vingroup has affirmed its pioneering role in green investment and raising capital in the international market.
In Technology - Industry activities, the first quarter of 2023 marks many important milestones in VinFast's development strategy when the company hands over the VF 8 City Edition car in the North American market and most recently, the delivery of the VF 9 and VF5 models in the Vietnamese market, just one year after the introduction of the "concept" version to the market.
In addition, Vingroup Chairman Pham Nhat Vuong continued to show his support for VinFast when he decided to establish GSM Green and Smart Mobility Joint Stock Company (Green - Smart - Mobility), specializing in providing provides car rental services, electric motorbikes and VinFast taxi services, in order to popularize the experience of electrification, thereby promoting a sustainable Green Lifestyle for the community. On April 14, 2023, GSM Company officially put into operation the first pure electric taxi service in Vietnam - Xanh SM.
Besides, VinAI brings completely new driving technologies to CES 2023 in the US, attracting special attention of visitors. VinBrain signed a data use agreement with Stanford University and a cooperation agreement with Nutex Health, a hospital system listed on Nasdaq, USA to deploy DrAid™, VinBrain's imaging solution at all Nutex Health hospitals to assist in the screening and diagnosis of over 52 cardiac-lung-skeletal abnormalities using straight chest X-ray images.
In the Trade and Service sector, in the first quarter of 2023, Vinhomes continues to affirm its prestige and position as a leading real estate developer when it continues to hand over townhouse products in Vinhomes Ocean Park 2 urban area and especially in the handover ceremony of more than 1,000 pink books to residents of The Rainbow subdivision (Vinhomes Grand Park, HCMC). The company officially launched a new product – the first Mega Complex in Vinhomes Ocean Park 2, designed according to the model of world famous luxury complex shopping streets, promising to quickly creates excitement and bustle for Vinhomes Ocean Park 2 as well as Vinhomes Ocean Park 1,200 ha marine urban super complex.
Vinhomes also affirms the No.1 real estate operating brand in the market when maintaining a series of programs to connect residents with thousands of residents and customers participating, contributing to top worth - living great cities.
The utilities present in Vinhomes megacities are the Royal Wave Park Complex and Laguna saltwater lake recognized by the World Records Organization as the artificial wave-creating saltwater lake complex in the urban area with the largest total area in the world and the largest artificial saltwater lake in the urban area in Asia, providing residents with world-class living experiences.
In the field of retail real estate, in the first quarter of 2023, Vincom Retail recorded outstanding growth compared to the same period last year, with total consolidated revenue growing 42% and consolidated profit after tax increasing 171%. Visitors to the shopping center in the first quarter increased by 39% over the same period in 2022, recovering 98% compared to the time before the epidemic.
In the field of tourism and resort, Vinpearl's activities recovered according to the general momentum of the tourism market. The total number of room nights in the first quarter of 2023 reached nearly 296 thousand rooms, an increase of 58% over the same period last year. Vinpearl was present at the ITB Berlin 2023 international tourism fair to introduce Vietnam's tourism as well as the brand's highlight products and services, receiving the attention and attention of many European partners particular and international in general. VinWonders and Klook - a booking platform for travel experiences and services, have just announced a strategic partnership to promote international tourism to Vietnam from March to May 2023.
Source: VITIC/Tinnhanhchungkhoan


 © Vietnam Industry and Trade Information Center ( VITIC)- Ministry of Industry and Trade 
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