Vinhomes Joint Stock Company · HOSE:VHM
Vinhomes Joint Stock — Q2 2025 Earnings Presentation
36 slides from Vinhomes Joint Stock's earnings presentation, Jul 30, 2025
Slide 1: 2Q2025 Earnings Presentation
VINHOMES JOINT STOCK COMPANY 1 2Q2025 Earnings Presentation July 30, 2025 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: Contents
VINHOMES JOINT STOCK COMPANY 3 VINHOMES JOINT STOCK COMPANY 3 CONTENTS Key Highlights 01 Macro & Sector Updates 02 Business Updates 03 Financial Summary 04 2025 Outlook 05 Appendix 06 Vinhomes Royal Island, Hai Phong
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 1H2025 GDP growth 1H2025 contracted sales 1H2025 adjusted revenue 2025 adjusted revenue target +7.52% YoY VND 67.5 trillion VND 45.0 trillion VND 180
Slide 5: Operational Performance – 1H & 2Q Details
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 5 Operational Performance – 1H & 2Q Details 1H2025 1H2024 YoY 2Q2025 2Q2024 YoY Contracted sales (VND T)1 67.5 51.7 ▲ 31% 32.5 35.5 ▼ 8% Unbilled sales (at period end - VND T)
Slide 6: Mega Project Launches Propel Pre-sales Momentum
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 6 Mega Project Launches Propel Pre-sales Momentum Contracted sales trend1 … 1H2025 contracted sales1 by project 180.0 VND trillion 7.0% OCP 2-3 launched Royal Island launched W
Slide 7: Forecasted FY2025 Revenue
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 7 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 8: Macro & Sector Updates
VINHOMES JOINT STOCK COMPANY 8 Macro & Sector Updates Vinhomes Ocean City, Hanoi
Slide 9: Vietnam's Resilience: Robust Fundamentals Amidst Global Headwinds
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 9 Vietnam's Resilience: Robust Fundamentals Amidst Global Headwinds Vietnam GDP Forecast: Regional Outperformer, Driven by Stable Rates – Fostering Economic & Credit Expansion
Slide 10: Government Priority: Streamlining the Administrative Apparatus for Optimal Efficiency
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 10 Government Priority: Streamlining the Administrative Apparatus for Optimal Efficiency 5. Bac Ninh GDP: USD 15 billion Commune-level units cut by Population: 4.5 million 70%
Slide 11: Hanoi – Strong Demand Drivers Underscore Market Resilience
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 11 Hanoi – Strong Demand Drivers Underscore Market Resilience Condominium: 2nd Highest Market Supply in 5 Years, Led by Premium Segment Landed Property: Positive Absorption ami
Slide 12: Post-Merger Greater HCMC: New Growth Levers for the Real Estate Market
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 12 Post-Merger Greater HCMC: New Growth Levers for the Real Estate Market Condominium: Healthy Absorption Sustained amidst Supply Limitations Landed Property: Modest Recovery f
Slide 13: Business Updates
VINHOMES JOINT STOCK COMPANY 13 VINHOMES JOINT STOCK COMPANY 11 Business Updates Vinhomes Smart City, Hanoi
Slide 14: Vinhomes' Premium Launches Achieved Robust Market Take-Up
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 14 1. Vinhomes' Premium Launches Achieved Robust Market Take-Up Vinhomes Golden City Vinhomes Green City June 26 241 hectares 4,940 units 500 bookings June 27 197 hectares 4,57
Slide 15: Major Milestones in Key Pipeline Signal Strong Project Momentum
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 15 2. Major Milestones in Key Pipeline Signal Strong Project Momentum Vinhomes Green Paradise Lang Van Tourism & Resort City Complex Vinhomes Industrial Plant – Ha Tinh • Groun
Slide 16: Transforming Urban Spaces into Year-Round Entertainment & Tourism Hubs
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 16 3. Transforming Urban Spaces into Year-Round Entertainment & Tourism Hubs Ocean Kids Day Anh Trai Vuot Ngan Chong Gai Concert Vincom Mega Mall Ocean City Sets Opening Date O
Slide 17: Transforming Urban Spaces into Year-Round Entertainment & Tourism Hubs
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 17 3. Transforming Urban Spaces into Year-Round Entertainment & Tourism Hubs Equestrian Art Show “Ma Khai Hoan” Record-Breaking National Flag Formation VinWonders & Marina Gran
Slide 18: Sustained Recognition and Stronger International Ties to Drive Growth
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 18 4. Vinhomes: Sustained Recognition and Stronger International Ties to Drive Growth SPECIAL AWARD GOLD AWARD | REAL ESTATE INDUSTRY VINHOMES & CAPITALAND Vinhomes Global Gate
Slide 19: Reinforcing Our ESG Commitment Through Action and Recognition
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 19 5. Reinforcing Our ESG Commitment Through Action and Recognition “Acting for a Green Ocean” ESG Awards On June 8, Vingroup/Vinhomes launched the “Acting for a Green Ocean” S
Slide 20: Financial Summary
VINHOMES JOINT STOCK COMPANY 20 VINHOMES JOINT STOCK COMPANY 18 Financial Summary Vinhomes Central Park, HCMC
Slide 21: 1H2025 Highlights
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 21 1H2025 Highlights Vinhomes Projects BCC Projects2 (Equity Accounting) 1. Revenue from Sale of Inventory • Total Revenue: VND 17.1 trillion • Total Revenue: VND 7.6 trillion
Slide 22: Financial Performance 1H2025 vs 1H2024
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 22 Financial Performance 1H2025 vs 1H2024 Figures in VND billion 1H2025 1H2024 Change Key Commentary Sale of Inventory Properties1 17,057 21,869 -22% • Deliveries at Vinhomes O
Slide 23: 1H2025 Financial Performance (Vinhomes Projects and BCC Projects)
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 23 1H2025 Financial Performance (Vinhomes Projects and BCC Projects) Figures in VND billion 1H2025 Adjusted Revenue (Excl. BCC)1 1H2025 Revenue from BCC Projects2 1H2025 Total
Slide 24: 1H2025 Financial Performance Overview
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 24 1H2025 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 64.2% 55.6% 37.7% 39.9% 40.8% 30.4% 9% 47.2% 55.1% 59.4% 54.
Slide 25: 1H2025 Financial Performance Incorporating BCCs and Bulk Sales
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 25 1H2025 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 26: Balance Sheet Overview
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 26 Balance Sheet Overview Total Assets 100,000 Inventories VND billion 90,000 VND billion 658,042 80,136 80,000 640,000 64,362 564,209 70,000 560,000 55,318 54.696 278,207 60,0
Slide 27: Key Credit Metrics
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 27 Key Credit Metrics Net Debt 1 / (Total Assets – Cash & Cash Equivalent2) Net Debt1 / Equity % % 2024 industry average4: 17% 2024 industry average4: 37% 10% 30% 9.1% 8.9% 25%
Slide 28: 1H2025 Debt Profile
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 28 1H2025 Debt Profile Strong balance sheet and robust liquidity position Balanced Debt Mix1 Diversified Debt Structure 8% Average cost of debt Average debt maturity 10.9% 1.7
Slide 29: 2025 Outlook
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 29 2025 Outlook FY2025 Targets Breakthrough Performance Outperforming Growth Adjusted revenue target • Substantial unbilled sales backlog of VND 138.2 trillion • Vietnam is poi
Slide 30: Appendix: Additional Information
VINHOMES JOINT STOCK COMPANY 30 Appendix: Additional Information Vinhomes Central Park, HCMC
Slide 31: 2Q2025 Financial Performance Overview
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 31 2Q2025 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 64.2% 55.6% 37.7% 39.9% 43.6% 33.5% 9% 47.2% 55.1% 59.4% 54.
Slide 32: 2Q2025 Financial Performance Incorporating BCCs and Bulk Sales
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 32 2Q2025 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 33: Strategically Positioned and Well-Diversified Land Bank
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 33 Strategically Positioned and Well-Diversified Land Bank Land Bank Earmarked for Future Residential Developments Project Pipeline Breakdown by Structure Project Pipeline Brea
Slide 34: Key Pipeline Projects
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 34 Key Pipeline Projects Driving Growth Through Strategically Positioned and Well-Diversified Land Bank Vinhomes Vinhomes Vinhomes Vinhomes Vinhomes Vinhomes Project Project Pr
Slide 35: Southern Coast
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2025 Outlook Appendix VINHOMES JOINT STOCK COMPANY 35 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 36: Investor Relations Department
VINHOMES JOINT STOCK COMPANY 36 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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