Billionaire Pham Nhat Vuong's Golden Goose Reveals Billion Dollar Profit Plan

Billion dollar revenue and profit plan

On the morning of April 23, Vinhomes Joint Stock Company (Vinhomes - Stock code: VHM) held the 2025 annual general meeting of shareholders. Ms. Nguyen Thu Hang - General Director of Vinhomes - briefly presented the bright spots of Vietnam's economy in 2024.

2024 is considered a year of great turmoil for the global economy, especially in the context of important elections taking place in many countries, reshaping the political landscape and having a profound impact on the world's financial and economic markets.

Despite facing challenges from tight monetary policy, geopolitical instability and global trade tensions, as well as negative impacts from natural disasters and floods in the country, Vietnam's economy has maintained impressive growth momentum.

Specifically, Vietnam's GDP growth in 2024 will reach 7.09%, exceeding the set target and being among the fastest growing economies in the ASEAN region as well as worldwide . Inflation will be effectively controlled, with the consumer price index maintained at 3.63%, in line with the National Assembly's target.

The bright spot of Vietnam's economy is the strong breakthrough in the field of import and export, with a total turnover of nearly 800 billion USD, a new record in nearly 40 years of Vietnam's renovation. Attracting foreign direct investment also achieved positive results, with a total registered capital of 38.23 billion USD. In particular, the realized FDI capital reached a record high, estimated at 25.35 billion USD, an increase of 9.4% compared to 2023, marking the highest disbursement level ever.

"In that context, Vinhomes has been flexible in its business strategy to overcome challenges, take advantage of new opportunities and achieve many outstanding achievements," Ms. Hang emphasized.

Specifically, Vinhomes' total consolidated net revenue in 2024 will reach VND 102,323 billion, down 1% compared to 2023. Of which, revenue from real estate transfer activities continues to be the core business, reaching VND 73,162 billion, thanks to the on-schedule handover of major projects.

Pre-tax profit in 2024 reached VND 40,848 billion, down 6% compared to 2023. However, after-tax profit in 2024 reached VND 35,073 billion, completing the approved profit plan for 2024, up 5% compared to 2024.

Assessing the business landscape in 2025, Mr. Pham Thieu Hoa - Chairman of Vinhomes Board of Directors - said that the real estate market has many bright prospects, although it still faces certain challenges and fluctuations, but is mostly favorable.

Chairman of Vinhomes Board of Directors Pham Thieu Hoa (Photo: Linh Nguyen).

In this context, the company will accelerate the completion of existing projects and expand strategic projects, aiming to develop model urban areas in key provinces and cities such as Hanoi, Hai Phong, Ho Chi Minh City, and Long An.

Vinhomes' Board of Directors has proposed a revenue plan of VND180 trillion (about USD6.93 billion) in 2025, up 75.9% compared to the actual figure in 2024. After-tax profit is set at VND42 trillion (about USD1.62 billion), up 19.7% compared to the actual figure last year.

Regarding the 2024 profit distribution plan, Vinhomes' Board of Directors plans to submit to the General Meeting of Shareholders to allocate VND 5 billion to the reserve fund according to the provisions of the company's charter. The entire remaining profit is expected to be invested in the company's production and business activities.

Nearly half of profits come from sold projects

A shareholder asked the Vinhomes board of directors about the motivation to achieve record high revenue and profit after tax. Mr. Le Tien Cong - Chief Accountant of Vinhomes - said that the revenue and profit motivation mainly comes from 3 main pillars.

Firstly, Vinhomes continues to build, implement and hand over projects that were opened for sale in previous years. The figure of about 94,000 billion VND in unrecorded revenue will be the driving force for this year's profit. Secondly, the company continues to open for sale projects that are being implemented. Thirdly, the growth momentum comes from wholesale of large lots.

Mr. Cong added that the company's 2025 revenue is expected to reach VND150,000-200,000 billion, depending on the market context and macro factors. In addition, he said that the sales and profit results in the first quarter of 2025 showed positive signs. Although January and February were affected by the Lunar New Year, the revenue of the last quarter was quite positive, reaching about VND35,000 billion, mainly from the opening of the Vinhomes Dan Phuong project.

"As I shared, 2025 is a pivotal year of a new era with many changes. Although there are some difficulties, most of the market will be favorable, coming from procedural reforms. Vinhomes will have many projects deployed simultaneously in 2025," Mr. Pham Thieu Hoa added.

Ms. Nguyen Thu Hang also commented that the real estate market in 2025 has many advantages when the demand for housing is still high, the strong development of infrastructure will continue to promote the urbanization trend. In key cities, the real estate supply is expected to recover. In addition, suitable and stable bank loan interest rates and policies to support young people to buy houses will help increase the real estate absorption rate.

Vinhomes CEO Nguyen Thu Hang (Photo: Linh Nguyen).

A shareholder attending the meeting also expressed concern that the trade war between the US and China would affect the company's business results. Ms. Hang said that this event would not affect Vinhomes because the industrial park real estate business accounts for a relatively small proportion. Currently, Vinhomes has an industrial park real estate project and is still operating normally.

Vinhomes CEO believes that with the Government's strong direction, public investment and domestic consumption will continue to be the driving force for Vietnam's economic growth this year.

Sharing more about the profit plan of 42,000 billion VND in 2025, Mr. Le Tien Cong said that 40-45% comes from projects that have been sold so far. General contracting and operating services activities contribute 10% of profit and remain stable. The rest of the profit comes from new sales openings during the year. Mr. Cong gave an example of the Vinhomes Can Gio mega project, which will be an important sales driver for the company in the next 3 years.

In addition, Ms. Thu Hang revealed that Vinhomes is studying the expansion into some foreign countries such as Vingroup's member units such as Vinfast and GSM. The company will officially announce when there is more specific information.

Source: https://dantri.com.vn/kinh-doanh/ga-de-trung-vang-cua-ty-phu-pham-nhat-vuong-he-lo-ke-hoach-loi-nhuan-ty-usd-20250423110947050.htm