Vinhomes Joint Stock Company · HOSE:VHM
Vinhomes Joint Stock — Q4 2023 Earnings Presentation
32 slides from Vinhomes Joint Stock's earnings presentation, Oct 30, 2023
Slide 1: 4Q2023 Earnings Presentation
VINHOMES JOINT STOCK COMPANY 1 4Q2023 Earnings Presentation July 2023 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 VINHOMES STOCK JOINT COMPANY STOCK COMPANY 3 CONTENTS TABLE OF CONTENTS 4Q2023 Macro Update & 4Q2023 & 2023 Market Trend Financial Highlights 01 03 05 02 04 Key Messages & 2023 4Q2023 2024 Snapshot Business Update Company Outlook
Slide 4: Key Messages
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 4 Key Messages Vietnam's 2023 GDP growth Inflation contained with 2023 CPI Property market’s signs of recovery with 1 2 +5.05% YoY +3.25% YoY Improving supply and liquidity Despite global headwinds Well managed under NA target of 4.5% In both
Slide 5: 2023 Snapshot
VINHOMES JOINT STOCK COMPANY 5 2023 Snapshot 1. On-schedule deliveries at Vinhomes Ocean Park 2 & 3 resulted in strong financial performance 1Q2023 2023 2022 YoY (%) Net Revenue VND VND103.3 29.3 trillion trillion VND 62.4 trillion 66% Total Adjusted Revenue Net Profit after Tax Adjusted Total Reven
Slide 6: Pre-sales Continued to be Driven by Large-Scale Projects
VINHOMES JOINT STOCK COMPANY 6 Pre-sales Continued to be Driven by Large-Scale Projects Contracted Sales(1) OCP 3 launched Unbilled Bookings(2) OCP 2 launched 180 VND trillion VND trillion VND trillion VND trillion 180 Retail sales volumes impacted by social distancing restrictions. Deliveries were
Slide 7: 4Q2023 Macro Update & Market Trend
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 7 4Q2023 Macro Update & Market Trend Vinhomes Ocean Park, Hanoi
Slide 8: Vietnam Navigating Global Challenges with Resilience
VINHOMES JOINT STOCK COMPANY 8 Vietnam’s Navigating Global Challenges with Resilience GDP kept growing momentum despite global uncertainties Policy rate cuts since early 2023 alleviated Strategic and timely measures boost market confidence liquidity challenges Inter - Bank Interest Rate, VNIBOR VND,
Slide 9: Hanoi – Enhanced Buyers' Sentiment Lifted Market Liquidity
VINHOMES JOINT STOCK COMPANY 9 Hanoi – Enhanced Buyers’ Sentiment Lifted Market Liquidity Condominium: Sold units exceeded new launches in 2H Landed property: Demand improved during 2H Units Units Supply surged due to 6,352 7,001 launches of 2 mega 1,791 2H2023 units launched units sold townships: V
Slide 10: HCMC – Higher Absorption Rate thanks to Improved Buyers' Sentiment
VINHOMES JOINT STOCK COMPANY 10 HCMC – Higher Absorption Rate thanks to Improved Buyers’ Sentiment Condominium: Sales saw improvement in the latter half of 2023 Landed property: Remained modest due to limited supply in 2023 Units Units 40,000 4,584 4,930 46 units sold 30,000 2H2023 units launched un
Slide 11: 4Q2023 Business Updates
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 11 4Q2023 Business Updates
Slide 12: Ocean City's Transformative Journey to Entertainment and Resort Hub
VINHOMES JOINT STOCK COMPANY 12 1. Ocean City's Transformative Journey to a Dynamic Entertainment and Resort Hub K-Day in K-Town in Vinhomes Ocean Park 2 Grand opening of Grand World with La Fiesta Night Party • 25 November 2023 marked the colorful and • On December 21, 2023, Ocean City dynamic Kore
Slide 13: New Milestones in Vinhomes' Urban Development
VINHOMES JOINT STOCK COMPANY 13 2. New Milestones in Vinhomes' Urban Development Construction commencement of new amenities at Vinhomes Grand Park and Construction commencement of social housing project in Hai Phong and Cam Ranh Vinhomes Ocean Park 3 Vinhomes Grand Park Hai Phong city • On 2 Novembe
Slide 14: Maintained Market-Leading Profile in the Regional Market
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 14 3. Maintained Market-Leading Profile in the Regional Market Corporate Excellence Award & Inspirational Brand Award ASIA PACIFIC ENTERPRISE AWARDS 2023 On October 5, 2023, Vinhomes was honored with the Corporate Excellence Award and Inspira
Slide 15: Market-Leading Profile in Vietnam
VINHOMES JOINT STOCK COMPANY 15 4% 4. Market-Leading Profile in Vietnam 62% 2% 3% 2% Vinhomes Developer A Developer B Developer C Developer D Others 27% 35% 37% 39% 42% 43% 51% 4% 61% 4% 3% 2% 2% 4% 3% 4% 4% 7% 4% 4% 4% 11% 3% 3% ALL SEGMENTS MID-END CONDOMINIUM HIGH-END CONDOMINIUM LANDED PROPERTIE
Slide 16: Updates on Selected Pipelines to be Launched in 2024
VINHOMES JOINT STOCK COMPANY 16 5. Updates on Selected Pipelines to be Launched in 2024 Vinhomes Co Loa Vinhomes Vu Yen Vinhomes Wonder Park Vinhomes Co Loa is a unique project with a combination of a lively suburban Located between Hanoi, Ha Long and surrounding renowned Vinpearl Vu Yen Golf Locate
Slide 17: Financial Highlights
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 17 2023 Financial Highlights Vinhomes Smart City, Hanoi
Slide 18: 2023 Highlights
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 18 VINHOMES JOINT STOCK COMPANY 2023 Highlights Vinhomes Projects BCC Projects(2) (Equity Accounting) 1. Revenue from Sale of Inventory • Total: VND 89.6 trillion • Total: VND 2.2 trillion Properties(1) • Key contributors: • Key contributors:
Slide 19: Financial Performance 2023 vs. 2022
VINHOMES JOINT STOCK COMPANY 19 Financial Performance 2023 vs. 2022 Figures in VND billion 2023 2022 Change Key Commentary Sale of Inventory Properties(1) 89,646 51,202 75% • Deliveries of low-rise units at Vinhomes Ocean Park 2 and 3 were the key drivers Other Revenue 13,688 11,191 22% Total Revenu
Slide 20: Financial Performance 2023 (Vinhomes Projects & BCC Projects)
VINHOMES JOINT STOCK COMPANY 20 Financial Performance 2023 (Vinhomes Projects & BCC Projects) Summary BCC Project Performance and Reconciliation Star City Others Figures in VND billion Total BCC Projects (Thanh Hoa, low-rise) Revenue 2,150 54 2,204 Cost of Sales -526 -81 -607 Gross Profit 1,624 -27
Slide 21: 2023 Financial Performance Overview
VINHOMES JOINT STOCK COMPANY 21 2023 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 54.1% 52.2% 47.2% 55.1% 47.6% 19% +66% 55.4% 37.3% 64.2% 55.6% 37.6% 120,000 CAGR 2019-2023 103,334 100,000 12,618 7% +16% 84,986 CAGR 2019-2023 48,460 906 1
Slide 22: FY2023 Financial Performance Incorporating BCCs and Bulk Sales
VINHOMES JOINT STOCK COMPANY 22 FY2023 Financial Performance Incorporating BCCs and Bulk Sales Adjusted Total Revenue Adjusted Gross Profit and Gross Profit Margin VND billion VND billion 54.1% 52.2% 47.2% 55.1% 47.6% 15% +49% 54.4% 45.6% 64.7% 59.6% 43.6% CAGR 2019-2023 121,379 12,618 80,000 7% +11
Slide 23: Balance Sheet Overview
VINHOMES JOINT STOCK COMPANY 23 Balance Sheet Overview Total Assets Inventories VND billion VND billion 0,000 447,361 70,000 64,362 0,000 361,813 60,297 60,000 207,111 52,343 0,000 50,000 42,984 230,516 165,277 0,000 215,326 40,000 197,241 28,579 57,686 30,000 0,000 113,014 136,079 240,250 20,000 19
Slide 24: 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% 9.0% 25% 21.2% 19.8% 7.0% 20% 5.4% 15% 12.5% 4.6% 4.7% 5% 10.3% 10% 7.8% 5% 0% 0% 31-Dec-19 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 31-Dec-19 31-Dec-20 31-Dec-21
Slide 25: Debt Profile
VINHOMES JOINT STOCK COMPANY 25 Debt profile Strong balance sheet and robust liquidity position Balanced debt mix (1) Diversified Debt Structure USD 9% Average cost of debt Average debt maturity Domestic bond 27% 10.2% 1.7 years VND 56.7 VND 56.7 trillion trillion Bank loans Interest Coverage Ratio
Slide 26: Outlook for 2024
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 26 Outlook for 2024 • As of December 2023, a significant backlog of unbilled bookings amounting to VND 99.7 trillion establishes a solid foundation for future earnings, 1 demonstrating resilience in the midst of continuous market challenges S
Slide 27: Appendix: Additional Materials
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 27 Appendix Additional Materials Vinhomes Central Park, HCMC
Slide 28: Financial Performance 4Q2023 vs. 4Q2022
VINHOMES JOINT STOCK COMPANY 28 Financial Performance 4Q2023 vs. 4Q2022 Figures in VND billion 4Q2023 4Q2022 Change Key Commentary Sale of Inventory Properties(1) 3,909 28,702 -86% • Deliveries of low-rise units at Vinhomes Ocean Park 2,3 were the key drivers Other Revenue 4,789 2,492 92% Total Reve
Slide 29: 4Q2023 Financial Performance Overview
VINHOMES JOINT STOCK COMPANY 29 4Q2023 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 54.1% 52.2% 47.2% 55.1% 47.6% 43.0% 7.7% 19% 55.4% 37.3% 64.2% 55.6% 37.6% 52.2% 10.7% 120,000 CAGR 2019-2023 103,334 100,000 84,986 12,618 7% 10,635 1,070
Slide 30: 4Q2023 Financial Performance Incorporating BCCs and Bulk Sales
VINHOMES JOINT STOCK COMPANY 30 4Q2023 Financial Performance Incorporating BCCs and Bulk Sales Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 54.1% 52.2% 47.2% 55.1% 47.6% 43.0% 7.7% 15% 54.4% 45.6% 64.7% 60.0% 43.6% 50.0% 41.1% CAGR 2019-2023 12,618 120,000 98,697 80,000
Slide 31: Social Housing Projects Scheduled for Launch under Happy Home Brand
VINHOMES JOINT STOCK COMPANY 31 Social Housing Projects Scheduled for Launch under Happy Home Brand Social Housing in Nam Trang Cat • Deliver the dream of home ownership for Location • Trang Cat Ward, Hai An District, Hai Phong millions of low-income people • Create modern urban developments, and Si
Slide 32: Investor Relations Department
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 32 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://v
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