Vinhomes Joint Stock Company · HOSE:VHM
Vinhomes Joint Stock — Q3 2024 Earnings Presentation
31 slides from Vinhomes Joint Stock's earnings presentation, Oct 30, 2024
Slide 1: 3Q2024 Earnings Presentation
VINHOMES JOINT STOCK COMPANY 1 3Q2024 Earnings Presentation Vinhomes Ocean Park, Hanoi
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: Table of Contents
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 3 CONTENTS TABLE OF CONTENTS 3Q2024 Macro Update & 9M2024 Market Trend Financial Highlights 01 03 05 02 04 Key Messages & 3Q2024 FY2024 9M2024 Snapshot Business Update Company Outlook
Slide 4: Key Messages
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 4 Key Messages Vietnam’s 3Q2024 GDP growth Inflation remained low with 9M2024 CPI The Government implemented 1 2 +7.4% YoY +3.88% YoY Three major laws on real estate Second highest growth rate in the Well managed under NA target of 4.5% Build
Slide 5: 9M2024 Snapshot
VINHOMES JOINT STOCK COMPANY 5 9M2024 Snapshot 1. Robust presales growth for 9M2024, tracking FY2024 guidance, primarily driven by the launch of Vinhomes Royal Island. 9M2024 1Q2023 9M2023 Change 3Q2023 3Q2024 2Q2024 Change Contracted Sales(2) VND VND 89.6 7.8 trillion trillion VND 56.7 trillion 58%
Slide 6: Pre-sales Bolstered by the Launch of New Mega Project
VINHOMES JOINT STOCK COMPANY 6 Pre-sales Bolstered by the Launch of New Mega Project Contracted Sales(1) Unbilled Sales(2) 180 VND trillion VND trillion OCP 2 VND trillion launched VND trillion 160 Retail sales was impacted by OCP 2 & 3 launched OCP 3 Royal Island Covid-19 pandemic. Deliveries launc
Slide 7: 3Q2024 Macro Update & Market Trend
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 30 7 3Q2024 Macro Update & Market Trend Vinhomes Ocean Park, Hanoi
Slide 8: Vietnam's Economy Recorded Strong Growth Despite the Aftermath of Yagi
VINHOMES JOINT STOCK COMPANY 8 Vietnam’s Economy Recorded Strong Growth Despite the Aftermath of Yagi Vietnam witnessed strongest economic in 2-years in Q3, Real estate sector stands to benefit from a lower interest Introducing new legal framework to facilitate the cementing optimistic outlook for F
Slide 9: Hanoi – Healthy Price Hikes Driven by Strong Demand
VINHOMES JOINT STOCK COMPANY 9 Hanoi – Healthy Price Hikes Driven by Strong Demand Condominium: Strong demand and robust transactions Landed property: Vibrant market driven by new launches in the Northeast Units Units | VND million psm Supply surged due to 8,227 8,009 launches of two mega townships:
Slide 10: HCMC – Resilient Market Supported by Constrained Supply
VINHOMES JOINT STOCK COMPANY 10 HCMC – Resilient Market Supported by Constrained Supply Condominium: New supply remains constrained, hitting a record-low level Landed property: Prices remain steady on the back of new releases Units Units | VND million psm 127 1,953 167 309 3Q2024 units launched unit
Slide 11: 3Q2024 Business Updates
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 11 3Q2024 Business Updates Vinhomes Ocean Park, Hanoi
Slide 12: Vibrant Community Activities and High-Profile Regional Events
VINHOMES JOINT STOCK COMPANY 13 2. Vibrant Community Activities and High-Profile Regional Events New records in construction progress and handover in Hai Phong Charity concert in supporting people affected by historic typhoon On September 14, Vinhomes held the A special charity music event titled "G
Slide 13: Enriching Lives of Youth and Seniors through Social Activities
VINHOMES JOINT STOCK COMPANY 14 3. Enriching Lives of Youth and Seniors through Social Activities Ocean Youth Camp 2024 at Vinhomes Ocean Park 3 “My Home by the Sea” – 2D1N Experience Tour at Ocean City Ocean Youth Camp 2024 took place at In just two months, July and August, over VinWonders Water Pa
Slide 14: Awards and Accolades
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 15 4. Awards and Accolades DEVELOPER OF THE YEAR TOP 10 MOST VALUABLE THE DOT PROPERTY VIETNAMESE BRANDS VIETNAM AWARDS 2024 BRAND FINANCE In Q3 2024, Vinhomes was honored with the Developer of the Year Vietnam 2024 award at the Dot Property
Slide 15: Vinhomes' Continued Dominance in Vietnam's Residential Market
VINHOMES JOINT STOCK COMPANY 16 4% 5. Vinhomes’ Continued Dominance in Vietnam’s Residential 3% Market 62% 2% 2% Vinhomes Developer A Developer B Developer C Developer D Others 26% 38% 38% 37% 41% 45% 49% 4% 60% 4% 4% 3% 2% 4% 6% 4% 4% 2% 3% 6% 4% 11% 3% 3% ALL COMDOMINIUM SEGMENTS MID-END CONDOMIN
Slide 16: 9M2024 Financial Highlights
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 17 9M2024 Financial Highlights Vinhomes Ocean Park, Hanoi
Slide 17: 9M2024 Financial Highlights
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 18 9M2024 Financial Highlights Vinhomes Projects BCC Projects(2) (Equity Accounting) 1. Revenue from Sale of Inventory • Total Revenue: VND 48.8 trillion • Total Revenue: VND 21 trillion Properties(1) • Key Contributors: • Key Contributors: •
Slide 18: Financial Performance 9M2024 vs. 9M2023
VINHOMES JOINT STOCK COMPANY 19 Financial Performance 9M2024 vs. 9M2023 Figures in VND billion 9M2024 9M2023 Change Key Commentary • Deliveries at Vinhomes OCP1-2-3, SMC and Golden Avenue were the key drivers Sale of Inventory Properties(1) 48,777 85,737 -43% • The variance in handover timing result
Slide 19: 9M2024 Financial Performance (Vinhomes Projects and BCC Projects)
VINHOMES JOINT STOCK COMPANY 20 9M2024 Financial Performance (Vinhomes Projects and BCC Projects) Summary BCC Project Performance and Reconciliation Figures in VND billion Royal Island (Hai Phong, low-rise) Others Total BCC Projects Revenue 21,544 552 22,096 Cost of Sales -6,957 -279 -7,236 Gross Pr
Slide 20: 9M2024 Financial Performance Overview
VINHOMES JOINT STOCK COMPANY 21 9M2024 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 37.3% 64.2% 55.6% 37.6% 38.8% 36.8% 52.2% 47.2% 55.1% 47.6% 52.8% 44.4% 120,000 13% 103,557 CAGR 2020-2023 12,687 94,637 100,000 84,986 7,951 11% 10,635 1,
Slide 21: 9M2024 Financial Performance Incorporating BCCs and Bulk Sales
VINHOMES JOINT STOCK COMPANY 22 9M2024 Financial Performance Incorporating BCCs and Bulk Sales Total Adjusted Revenue Adjusted Gross Profit and Gross Profit Margin VND billion VND billion 45.6% 64.7% 60.0% 43.6% 43.7% 46.0% 52.2% 47.2% 55.1% 47.6% 52.8% 44.4% 7% CAGR 2020-2023 4% 121,357 12,687 20,1
Slide 22: Balance Sheet Overview
VINHOMES JOINT STOCK COMPANY 23 Balance Sheet Overview Total Assets Inventories VND billion 524,684 VND billion 0,000 444,631 70,000 64,362 57,981 55,318 361,813 221,954 60,000 0,000 202,290 50,000 42,984 0,000 230,516 165,277 40,000 0,000 215,326 28,579 30,000 0,000 113,014 136,079 302,730 20,000 2
Slide 23: Key Credit Metrics
VINHOMES JOINT STOCK COMPANY 24 Key Credit Metrics Net Debt (1) / (Total Assets – Cash & Cash Equivalent (2)) Net Debt(1) / Equity % % 10% 9.5% 30% 9.1% 25% 22.1% 21.2% 20% 5.4% 4.6% 4.7% 5% 15% 12.5% 10.3% 10% 7.8% 5% 0% 0% 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 30-Sep-24 31-Dec-20 31-Dec-21 31-De
Slide 24: Debt Profile
VINHOMES JOINT STOCK COMPANY 25 Debt Profile Strong balance sheet and robust liquidity position Balanced Debt Mix (1) Diversified Debt Structure 11% Average cost of debt Average debt maturity 38% 10.5% 1.9 years VND 72.2 46% VND 72.2 trillion trillion TTM Interest Coverage % of fixed rate debt 16% 8
Slide 25: Cash Flow Summary
VINHOMES JOINT STOCK COMPANY 26 Cash Flow Summary Figures in VND billion 9M2024 9M2023 Change Profit before Tax 24,596 41,920 (17,324) Adjustment for Non-cash Items (9,433) (10,687) 1,254 Operating Profit before Change in working capital 15,163 31,233 (16,070) Change in working capital (33,800) (20,
Slide 26: Outlook for FY2024
VINHOMES JOINT STOCK COMPANY 27 Outlook for FY2024 • As of September 2024, a substantial backlog of unbilled sales totaling VND 123 trillion provides a strong foundation for future earnings, demonstrating resilience amid ongoing market challenges. Robust unbilled sales and • Following the robust sal
Slide 27: Vinhomes Market: Anticipated to be Driving Momentum for Presales Outlook
VINHOMES JOINT STOCK COMPANY 28 Vinhomes Market: Anticipated to be Driving Momentum for Presales Outlook Within 5 days of launch: Targets: Website Traffic 20% 1.6M retail sales of Vinhomes Website Reach 500 11.3M transactions in 4Q2024 Website Impressions 18 94M projects fully activated Vinhomes has
Slide 28: Appendix: Additional Information
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 17 29 Appendix: Additional Information Vinhomes Ocean Park, Hanoi
Slide 29: 3Q2024 Financial Performance Overview
VINHOMES JOINT STOCK COMPANY 30 3Q2024 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 37.3% 64.2% 55.6% 43.6% 50.2% 33.6% 52.2% 47.2% 55.1% 47.6% 52.4% 47.9% 120,000 13% 103,557 CAGR 2020-2023 12,687 100,000 84,986 11% 10,635 1,201 CAGR 2020
Slide 30: 3Q2024 Financial Performance Incorporating BCCs and Bulk Sales
VINHOMES JOINT STOCK COMPANY 31 3Q2024 Financial Performance Incorporating BCCs and Bulk Sales Total Adjusted Revenue Adjusted Gross Profit and Gross Profit Margin VND billion VND billion 45.6% 64.7% 60.0% 43.6% 50.0% 40.9% 52.2% 47.2% 55.1% 47.6% 52.4% 47.9% 7% CAGR 2020-2023 4% 121,357 12,687 80,0
Slide 31: Investor Relations Department
VINHOMES JOINT STOCK COMPANY 33 Investor Relations Department Vinhomes Joint Stock Company Symphony Office Tower, Chu Huy Man Street, Vinhomes Riverside Eco-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@v
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