Vinhomes Joint Stock Company · HOSE:VHM
Vinhomes Joint Stock — Q4 2024 Earnings Presentation
29 slides from Vinhomes Joint Stock's earnings presentation, Jan 24, 2025
Slide 1: 4Q2024 Earnings Presentation
VINHOMES JOINT STOCK COMPANY 1 4Q2024 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 4Q2024 Macro Update 2024 & Market Trend Financial Highlights 01 03 05 02 04 Key Messages & 4Q2024 2025 2024 Snapshot Business Update Company Outlook
Slide 4: Key Messages
VINHOMES JOINT STOCK COMPANY 4 Key Messages Vietnam’s 2024 GDP growth Vietnam’s 2024 CPI growth The 2025 property market is projected to 1 2 +7.09% YoY +3.63% YoY Initiate a new development cycle surpassing the NA's target well managed inflation catalyzed by the implementation of three major real es
Slide 5: 2024 Snapshot
VINHOMES JOINT STOCK COMPANY 5 2024 Snapshot 1. Robust FY2024 presales boosted by Vinhomes Royal Island debut 1Q2023 2024 2023 Change Total adjusted revenue Net profit after tax Contracted Sales(2) VND VND103.9 7.8 trillion trillion VND 87 trillion 19% ▲ 13% YoY ▲ 5% YoY Unbilled Sales (at Period En
Slide 6: New Mega Project Launches Propel Pre-sales Momentum
VINHOMES JOINT STOCK COMPANY 6 New Mega Project Launches Propel Pre-sales Momentum Contracted Sales(1) Unbilled Sales(2) 180 VND trillion VND trillion VND trillion VND trillion OCP 2/3 160 launched Royal Island 140 launched 200 Retail sales was impacted by Launches of Golden Avenue & Covid-19 pandem
Slide 7: 4Q2024 Macro Update & Market Trend
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 30 7 4Q2024 Macro Update & Market Trend Vinhomes Ocean Park, Hanoi
Slide 8: Vietnam's Economy Poised for Robust Growth in 2025
VINHOMES JOINT STOCK COMPANY 8 Vietnam’s Economy Poised for Robust Growth in 2025 Vietnam's GDP among region's highest, expected to Stable low interest rates to support market rebound Implementing new legal framework to show strong resilience in 2025 facilitate the recovery of real estate market For
Slide 9: Hanoi – Sustained Growth and Robust Demand Projected for 2025
VINHOMES JOINT STOCK COMPANY 9 Hanoi – Sustained Growth and Robust Demand Projected for 2025 Condominium: New supply tripled 2023 levels with healthy absorption rate Landed property: Supply remains strong, supported by sustained demand Units Units | VND million psm Vinhomes 30,960 31,170 OCP 2 & 3 6
Slide 10: HCMC – Strong Indicators of Market Recovery and Growth in 2025
VINHOMES JOINT STOCK COMPANY 10 HCMC – Strong Indicators of Market Recovery and Growth in 2025 Condominium: Positive absorption despite new record-low supply Landed property: Supply increases eightfold, followed by improved absorption Units Units | VND million psm 5,050 6,980 230 250 310 FY2024 unit
Slide 11: 4Q2024 Business Updates
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 11 4Q2024 Business Updates Vinhomes Smart City, Hanoi
Slide 12: Vinhomes Strives to Pioneer New Standards of Residential Living
VINHOMES JOINT STOCK COMPANY 12 1. Vinhomes Strives to Pioneer New Standards of Residential Living New precinct launches with favorable sales Strengthening strategic partnership with Pioneering in elevating living and working policies international partners standards for the community During the las
Slide 13: Vinhomes Elevates Recreational Experiences in the Northern Region
VINHOMES JOINT STOCK COMPANY 13 2. Vinhomes Elevates Recreational Experiences in the Northern Region Vinhomes Ocean City: Premier venue for major cultural and entertainment events in the East of Hanoi The highly anticipated Call Me by Fire concert took While fireworks have become a fixture in Ocean
Slide 14: Vinhomes Continues to Garner Prestigious Awards and Accolades
VINHOMES JOINT STOCK COMPANY 14 3. Vinhomes Continues to Garner Prestigious Awards and Accolades In 4Q2024, Vinhomes received the "Best Residential Real Estate Developer in Vietnam 2024" award from the prestigious magazine Euromoney and was honored with the "Vietnam National Brand" by the Prime Mini
Slide 15: Commitment to Sustainable Development Underpinned by ESG Strategy
VINHOMES JOINT STOCK COMPANY 16 Commitment to a Sustainable Development Underpinned by ESG Strategy Strategy ESG Commitment ESG Achievements • Continuously minimize direct environmental footprint by 481 tCO2e offset with solar power output, 100% of employees transitioned to the use of monitoring CO2
Slide 16: 2024 Financial Highlights
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 17 2024 Financial Highlights Vinhomes Ocean Park, Hanoi
Slide 17: 2024 Financial Highlights
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 18 2024 Financial Highlights Vinhomes Projects BCC Projects(2) (Equity Accounting) 1. Revenue from Sale of Inventory • Total Revenue: VND 73.2 trillion • Total Revenue: VND 36.8 trillion Properties(1) • Key Contributors: • Key Contributors: •
Slide 18: Financial Performance 2024 vs. 2023
VINHOMES JOINT STOCK COMPANY 19 Financial Performance 2024 vs. 2023 Figures in VND billion 2024 2023 Change Key Commentary Sale of Inventory Properties(1) 73,203 89,669 -18% • Deliveries at Vinhomes OCP1-2-3, Grand Park and Golden Avenue were the key drivers Other Revenue 28,843 13,888 108% Total Re
Slide 19: 2024 Financial Performance (Vinhomes Projects and BCC Projects)
VINHOMES JOINT STOCK COMPANY 20 2024 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 36,264 593 36,857 Cost of Sales (11,422) (277) (11,699) Gross
Slide 20: 2024 Financial Performance Overview
VINHOMES JOINT STOCK COMPANY 21 2024 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 37.3% 64.2% 55.6% 37.7% 39.4% 120,000 9.3% 103,557 52.2% 47.2% 55.1% 59.4% 43.3% CAGR 2020-2024 102,045 100,000 84,986 12,687 5% 10,635 27,326 CAGR 2020-2024
Slide 21: 2024 Financial Performance Incorporating BCCs and Bulk Sales
VINHOMES JOINT STOCK COMPANY 22 2024 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% 41.6% 48.7% 9.5% 52.2% 47.2% 55.1% 59.4% 43.3% CAGR 2020-2024 141,812 7% 80,000 CAGR 2020-2024 1
Slide 22: Balance Sheet Overview
VINHOMES JOINT STOCK COMPANY 23 Balance Sheet Overview Total Assets Inventories VND billion 560,724 VND billion 0,000 70,000 64,362 0,000 444,631 55,318 60,000 361,813 273,258 48,723 0,000 50,000 42,984 202,290 0,000 40,000 215,326 230,516 165,277 28,579 0,000 30,000 0,000 113,014 136,079 287,466 20
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% 9.1% 9.3% 30% 25% 22.3% 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 31-Dec-242 31-Dec-20 31-Dec-21 31-D
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 10% Average cost of debt Average debt maturity 44% 10.5% 1.95 years 41% VND 81.3 VND 81.3 trillion trillion TTM Interest Coverage % of fixed rate debt 15%
Slide 25: Outlook for 2025
VINHOMES JOINT STOCK COMPANY 27 Outlook for 2025 • Substantial backlog of unbilled sales of VND 94.2 trillion as of 2024-end provides a strong foundation for future earnings. Robust unbilled sales and • Presales momentum shall be facilitated by upcoming launches of new mega projects, along with cont
Slide 26: Appendix: Additional Information
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 17 28 Appendix: Additional Information Vinhomes Central Park, Ho Chi Minh City
Slide 27: 4Q2024 Financial Performance Overview
VINHOMES JOINT STOCK COMPANY 29 4Q2024 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 37.3% 64.2% 55.6% 43.6% 29.6% 42.6% 52.2% 47.2% 55.1% 47.6% 54.9% 47.8% 120,000 103,557 12,687 100,000 84,986 48,460 906 10,635 1,201 50,000 80,000 71,547
Slide 28: 4Q2024 Financial Performance Incorporating BCCs and Bulk Sales
VINHOMES JOINT STOCK COMPANY 30 4Q2024 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% 31.9% 51.0% 52.2% 47.2% 55.1% 47.6% 54.9% 47.8% 121,357 12,687 80,000 120,000 98,697 70,
Slide 29: Investor Relations Department
VINHOMES JOINT STOCK COMPANY 35 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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