Vinhomes profits nearly 9,000 billion VND, total assets exceed half a million billion VND

Vinhomes has just announced its consolidated financial report for the third quarter of 2024 with net revenue reaching VND 33,323 billion and profit after tax reaching VND 8,980 billion.

In the first 9 months of the year, Vinhomes recorded total consolidated net revenue of VND 69,910 billion, the company's consolidated profit after tax reached VND 20,600 billion - Photo: NGOC HIEN

Vinhomes Joint Stock Company (stock code VHM) has just announced its consolidated financial report for the third quarter of 2024 with consolidated revenue of more than VND 33,320 billion, an increase of nearly 2% over the same period last year.

In the last quarter, the cost of goods sold increased by nearly 33%, causing Vinhomes' gross profit margin to decrease from 46% to 29% while expenses incurred during the period all increased. After deducting expenses, Vinhomes' third-quarter after-tax profit decreased by 16% compared to the same period last year, reaching VND8,980 billion .

In the first 9 months of the year, the consolidated net revenue of real estate enterprises in the Vingroup ecosystem reached nearly VND 70,000 billion and VND 20,600 billion in profit after tax, down 26% and 36% respectively compared to the same period last year.

According to Vinhomes, this result was supported by the handover of Vinhomes Ocean Park 2-3 projects and recorded business results at Vu Yen project, Hai Phong during the period.

As of September 30, 2024, Vinhomes recorded total assets and equity of VND 524,684 billion and VND 215,966 billion, respectively, an increase of 18% and 18.3% compared to December 31, 2023.

Of which, cash, cash equivalents and bank deposits are worth VND 22,055 billion.

With the above asset scale, Vinhomes continues to be the largest real estate developer on the Vietnamese stock exchange.

In 2024, Vinhomes plans to operate with total revenue of VND 120,000 billion and after-tax profit of VND 35,000 billion, up 16% and more than 4% respectively compared to 2023. To date, Vinhomes has achieved 76% of its revenue target and 59% of its profit target after 9 months.

Source: https://tuoitre.vn/vinhomes-lai-gan-9-000-ti-dong-tong-tai-san-vuot-nua-trieu-ti-dong-20241031082925478.htm