Vinhomes Joint Stock Company · HOSE:VHM
Vinhomes Joint Stock — Q3 2025 Earnings Presentation
37 slides from Vinhomes Joint Stock's earnings presentation, Oct 30, 2025
Slide 1: 3Q2025 Earnings Presentation
VINHOMES JOINT STOCK COMPANY 1 3Q2025 Earnings Presentation October 30, 2025
Slide 2: Disclaimer
VINHOMES JOINT STOCK COMPANY 2 Disclaimer IMPORTANT: The information contained herein is preliminary and subject to change without notice. Its accuracy is not guaranteed, has not been independently verified and may not contain all material information concerning Vinhomes Joint Stock Company (the “Co
Slide 3: Contents
VINHOMES JOINT STOCK COMPANY 3 Vinhomes Green Paradise, HCMC CONTENTS 1 Key Highlights 2 Macro & Sector Updates 3 Business Updates 4 Financial Summary 5 2025 Outlook 6 Appendix
Slide 4: Key Highlights
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 4 Key Highlights Vietnam’s 3Q2025 GDP growth 9M2025 contracted sales 9M2025 adjusted revenue 2025 adjusted revenue target ▲ 8.23% YoY VND 162.6 trillion VND 70.4 trillion VND 1
Slide 5: Operational Performance – 9M & 3Q Details
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 5 Operational Performance – 9M & 3Q Details 9M2025 9M2024 YoY 3Q2025 3Q2024 YoY Contracted sales (VND T)1 162.6 82.8 ▲96% 95.1 31.1 ▲ 206% Unbilled sales (at period end - VND T
Slide 6: Forecasted FY2025 Revenue
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 6 Forecasted FY2025 Revenue Expected Revenue Sources Adjusted revenue target 180 VND trillion Vinhomes' full-year revenue target is underpinned by three primary components: ▲ 2
Slide 7: Macro & Sector Updates
VINHOMES JOINT STOCK COMPANY 7 Macro & Sector Updates Vinhomes Ocean City, Hanoi
Slide 8: Vietnam's New Growth Chapter – Solid Fundamentals & Market Upgrade Momentum
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 8 Vietnam’s New Growth Chapter – Solid Fundamentals & Market Upgrade Momentum Bright GDP Outlook Backed by Decisive Reforms Credit Growth Hits 5-year High, Backed by Stable Rat
Slide 9: Hanoi Property Market – Positive Momentum Continues
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 9 Hanoi Property Market – Positive Momentum Continues Condominium: Second Quarter in 5 Yrs with New Supply >10K Units Landed Property: Sustained Demand Amid Tight Supply Units
Slide 10: HCMC Property Market — Entering The Growth Phase
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 10 HCMC Property Market — Entering The Growth Phase Condominium: Supply Growth Accelerates, Led by Binh Duong Landed Property: Gradual Rebound After Prolonged Downturn Units Un
Slide 11: Business Updates
VINHOMES JOINT STOCK COMPANY 11 VINHOMES JOINT STOCK COMPANY 11 Business Updates Vinhomes Smart City, Hanoi
Slide 12: Vinhomes Green Paradise – An Integrated Coastal Township
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 12 Vinhomes Green Paradise – An Integrated Coastal Township for Living, Leisure, & Tourism THE GREEN BAY Vinmec Cleverland 586.9 ha VINHOMES GREEN PARADISE Connected 2,870-ha p
Slide 13: Transforming Vinhomes Green Paradise into Vietnam's First Coastal TOD Hub
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 13 Transforming Vinhomes Green Paradise into Vietnam’s First Coastal TOD Hub Bach Dang Wharf Long Thanh International Airport PHU MY HUNG – FORMER DISTRICT 7 Binh Khanh Ferry T
Slide 14: Strong Growth Momentum across Strategic Projects Nationwide
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 14 Strong Growth Momentum across Strategic Projects Nationwide Inauguration & Groundbreaking of Landmark Projects for Vietnam’s 80th National Day Vinhomes Golden City Quang Han
Slide 15: Vinhomes Celebrates Vietnam's 80th Independence Day
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 15 From Every Township – Vinhomes Celebrates Vietnam’s 80th Independence Day Ocean City Ocean City VINHOMES OCEAN CITY VINHOMES GRAND PARK VINHOMES ROYAL ISLAND • Spectacular F
Slide 16: Vinhomes Royal Island – Taking Shape as Hai Phong's New Urban Hub
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 16 Vinhomes Royal Island – Taking Shape as Hai Phong’s New Urban Hub One year on, the township is thriving with new amenities, vibrant events, and an expanding community NEW FA
Slide 17: Ocean City – Northern Vietnam's 5-star Lifestyle Hub
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 17 Ocean City – Northern Vietnam’s 5-star Lifestyle Hub, Home to 90,000+ Residents Achievements 90K+residents 100+ community 14M visitors in 2024 2K+ shops & vibrant events/yea
Slide 18: Embedding ESG in Every Action We Take
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 18 Embedding ESG in Every Action We Take 01. 02. 03. VINHOMES ENVIRONMENT WEEK 2025 EMPLOYEE ENGAGEMENT PROGRAMS FAIR LAND COMPENSATION & 14–20 SEPTEMBER 2025 INCLUSIVE URBAN D
Slide 19: Vinhomes' Continued Dominance in Vietnam's Residential Real Estate Market
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 19 4% 62% 3% Vinhomes’ Continued Dominance in Vietnam’s Residential Real Estate Market 2% 2% Vinhomes Developer A Developer B Developer C Developer D Others 26% 38% 35% 36% 39%
Slide 20: Reaffirming Excellence Through Ongoing Domestic and Regional Accolades
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 20 Vinhomes: Reaffirming Excellence Through Ongoing Domestic and Regional Accolades #7 IN TOP 100 VIETNAMESE BRANDS CORPORATE EXCELLENCE AWARD Vinhomes | USD 1.6 billion Vinhom
Slide 21: Financial Summary
VINHOMES JOINT STOCK COMPANY 21 VINHOMES JOINT STOCK COMPANY 18 Financial Summary Vinhomes Central Park, HCMC
Slide 22: 9M2025 Highlights
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 22 9M2025 Highlights Vinhomes Projects BCC Projects2 (Equity Accounting) 1. Revenue from Sale of Inventory • Total Revenue: VND 20.8 trillion • Total Revenue: VND 11.4 trillion
Slide 23: Financial Performance 9M2025 vs 9M2024
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 23 Financial Performance 9M2025 vs 9M2024 Figures in VND billion 9M2025 9M2024 Change Key Commentary Sale of Inventory Properties1 20,808 48,777 -57% • Deliveries at Vinhomes O
Slide 24: 9M2025 Financial Performance (Vinhomes Projects and BCC Projects)
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 24 9M2025 Financial Performance (Vinhomes Projects and BCC Projects) Figures in VND billion 9M2025 Adjusted Revenue (Excl. BCC)1 9M2025 Revenue from BCC Projects2 9M2025 Total
Slide 25: 9M2025 Financial Performance Overview
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 25 9M2025 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 64.2% 55.6% 37.7% 39.9% 36.8% 29.4% 9% 47.2% 55.1% 59.4% 54.
Slide 26: 9M2025 Financial Performance Incorporating BCCs and Bulk Sales
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 26 9M2025 Financial Performance Incorporating BCCs and Bulk Sales Total Adjusted Revenue Adjusted Gross Profit and Gross Profit Margin VND billion VND billion 64.7% 60.0% 41.6%
Slide 27: Balance Sheet Overview
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 27 Balance Sheet Overview Total Assets 140,000 Inventories 125,608 VND billion 130,000 VND billion 768,264 120,000 800,000 110,000 720,000 100,000 640,000 564,209 90,000 331,82
Slide 28: Key Credit Metrics
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 28 Key Credit Metrics Net Debt 1 / (Total Assets – Cash & Cash Equivalent2) Net Debt1 / Equity % % 50% 15% 45% 12.9% 39.5% 40% 35% 10% 9.1% 8.9% 30% 25% 21.2% 21.3% 20% 5.4% 4.
Slide 29: Debt Profile
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 29 Debt Profile Strong balance sheet and robust liquidity position Balanced Debt Mix1 Diversified Debt Structure 14% 1% Average cost of debt Average debt maturity 10.5% 2.2 yea
Slide 30: 2025 Outlook
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 30 2025 Outlook FY2025 Targets Breakthrough Performance Outperforming Growth Adjusted revenue target • Substantial unbilled sales backlog of VND 223.9 trillion • Vietnam is poi
Slide 31: Appendix: Additional Information
VINHOMES JOINT STOCK COMPANY 31 Appendix: Additional Information Vinhomes Central Park, HCMC
Slide 32: 3Q2025 Financial Performance Overview
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 32 3Q2025 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 64.2% 55.6% 37.7% 39.9% 33.6% 27.4% 9% 47.2% 55.1% 59.4% 51.
Slide 33: 3Q2025 Financial Performance Incorporating BCCs and Bulk Sales
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 33 3Q2025 Financial Performance Incorporating BCCs and Bulk Sales Total Adjusted Revenue Adjusted Gross Profit and Gross Profit Margin VND billion VND billion 64.7% 60.0% 41.6%
Slide 34: Strategically Positioned and Well-Diversified Land Bank
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 34 Strategically Positioned and Well-Diversified Land Bank Land Bank Earmarked for Future Residential Developments Project Pipeline Breakdown by Structure Project Pipeline Brea
Slide 35: Ongoing and Key Pipeline Projects
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 35 Ongoing and Key Pipeline Projects Driving Growth Through Strategically Positioned and Well-Diversified Land Bank Social Vinhomes Vinhomes Vinhomes Vinhomes Vinhomes Project
Slide 36: Southern Coast
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 36 Vinhomes My Lam Northern Market Southern Market (~150km from Hanoi) Project LA 930ha (~40km from HCMC) Project HCMC 200ha (~30km from HCMC) Tuyen Quang Project HCMC 860ha (~
Slide 37: Investor Relations Department
VINHOMES JOINT STOCK COMPANY 37 Investor Relations Department Vinhomes Joint Stock Company Symphony Office Tower, Chu Huy Man Street, Vinhomes Riverside Urban Area, Phuc Loi Ward, Long Bien District, Hanoi, Vietnam Tel: +84 (24) 3975 5899 ext. 3982 Website: https://vinhomes.vn/en/ir E-mail: ir@vinho
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