VinFast announces business results

On September 21, VinFast Auto Ltd., a member company of Vingroup, announced its independent financial report for the second quarter of 2023.

Accordingly, VinFast recorded total revenue of 334.1 million USD in the second quarter of 2023, an increase of 303.3% compared to the first quarter of 2023. Revenue mainly came from the delivery of 9,535 electric cars.

The announcement also stated that the number of electric cars delivered in the second quarter of 2023 was 9,535, an increase of about 436% compared to the first quarter of 2023. The number of electric motorbikes delivered in the second quarter of 2023 was 10,182, an increase of 4% compared to the first quarter of 2023.

As of June 30, VinFast has 122 showrooms for electric cars worldwide and 245 showrooms and service workshops for electric motorbikes.

VinFast electric vehicles for export

The unit also reported a gross operating loss of VND2,715 billion (US$114.1 million), up 7.5% year-on-year in the second quarter of 2022 and down 28.7% year-on-year in the first quarter of 2023.

Gross profit margin improved to -34.1% in Q2-2023, compared to -73.4% in Q2-2022 and -193.2% in Q1-2023.

In addition, operating losses were VND9,230 billion (US$387.8 million), down 20.0% from Q2-2022 and down 17.2% from Q1-2023. The decrease in losses was mainly due to strong revenue growth and improved profit margins compared to previous quarters.

Net loss was VND12,535 billion (USD526.7 million), down 8.2% compared to Q2-2022 and down 11.2% compared to Q1-2023. Total assets were VND116,828 billion (USD4,909 million) as of June 30.

Source: https://nld.com.vn/tai-chinh-chung-khoan/vinfast-cong-bo-ket-qua-kinh-doanh-20230921202538383.htm