Vinhomes Joint Stock Company · HOSE:VHM
Vinhomes Joint Stock — Q2 2024 Earnings Presentation
31 slides from Vinhomes Joint Stock's earnings presentation, Jul 18, 2024
Slide 1: 2Q2024 Earnings Presentation
VINHOMES JOINT STOCK COMPANY 1 2Q2024 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 2Q2024 Macro Update 1H2024 & Market Trend Financial Highlights 01 03 05 02 04 Key Messages & 2Q2024 Company 1H2024 Snapshot Business Update Outlook
Slide 4: Key Messages
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 4 Key Messages Vietnam's 2Q2024 GDP growth Inflation contained with 1H2024 CPI Government has implemented 1 2 +6.93% YoY +4.08% YoY Strategic measures and policies Second highest 2Q growth Well managed under NA target of 4.5% Facilitating the
Slide 5: 1H2024 Snapshot
VINHOMES JOINT STOCK COMPANY 5 1H2024 Snapshot 1. Variance in handover timing resulted in moderate earnings vs. 1H2023 high-base. 1Q2023 1H2024 1H2023 Change 2Q2024 1Q2024 Change Net Revenue VND VND 29.3 36.4 trillion trillion VND 61.9 trillion 41% VND 28.2 trillion VND 8.2 trillion 3.4x Adjusted To
Slide 6: Pre-sales to be Supported by Newly Launched Projects
VINHOMES JOINT STOCK COMPANY 6 Pre-sales to be Supported by Newly Launched Projects Contracted Sales(1) Unbilled Bookings(2) 180 VND trillion VND trillion OCP 2 launched Royal Island launched in Late March VND trillion VND trillion OCP 2 & 3 launched 160 180 Retail sales volumes impacted by social d
Slide 7: Forecasted FY2024 Revenue
VINHOMES JOINT STOCK COMPANY 7 Forecasted FY2024 Revenue Annual target VND 120 • Revenue from unbilled bookings trillion will continue to be the key contributor for 2H2024 revenue 150,000 upon deliveries at major projects such as Vinhomes Royal Island and Vinhomes OCP 2 – 3. 100,000 • New sales anti
Slide 8: 2Q2024 Macro Update & Market Trend
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 30 8 2Q2024 Macro Update & Market Trend Ocean City
Slide 9: Optimistic Prospects with Strong Fundamentals & Positive 2Q2024 Growth
VINHOMES JOINT STOCK COMPANY 9 Optimistic Prospects with Strong Fundamentals & Positive 2Q2024 Growth Sustained GDP growth amid global uncertainties Mild increase in interest rate, maintained at low level Accommodative policies to facilitate business capital access and property’s development Real GD
Slide 10: Hanoi – Strong Absorption Rate Growth given Significant New Launches
VINHOMES JOINT STOCK COMPANY 10 Hanoi – Strong Absorption Rate Growth given Significant New Launches Condominium: Highest level of new supply in the last 5 years Landed property: Selling prices sustained by limited supply Units Units / VND million psm 10,841 12,208 Supply surged due 662 202 1H2024 u
Slide 11: HCMC – Supply Remains Low yet Showing Gradual Recovery by Quarter
VINHOMES JOINT STOCK COMPANY 11 HCMC – Supply Remains Low yet Showing Gradual Recovery by Quarter Condominium: Reached a record low, decreasing by nearly 60% YoY Landed property: Price increased due to new supply in prime locations Units Units / VND million psm 1,676 1,741 48 312 units sold million/
Slide 12: 2Q2024 Business Updates
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 11 12 2Q2024 Business Updates
Slide 13: Ocean City Elevates Premier Recreational Experience in the Northern region
VINHOMES JOINT STOCK COMPANY 13 1. Ocean City Elevates Premier Recreational Experience in the Northern region Grand opening of K-Town zone – a “mini” version of Korea in the North Explore Little Hong Kong debut day with fascinating experiences During April 26-28, the official opening of Opened on Ju
Slide 14: Accelerated Community Engagement with Innovative Attractions and Initiatives
VINHOMES JOINT STOCK COMPANY 14 2. Accelerated Community Engagement with Innovative Attractions and Initiatives Walking Street - Vu Yen Park and Vinpearl Horse Academy Grand Opening Vinhomes Elite Club with exclusive opportunities On June 1, 2024, Vinhomes Royal Island in Vinhomes launched Vinhomes
Slide 15: Awards and Accolades
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 15 3. Awards and Accolades TOP 10 DEVELOPERS 2024 VINHOMES BCI ASIA AWARDS 2024 MIXED USE BEST MIXED USE DEVELOPMENT VIETNAM DEVELOPMENT VIETNAM VINHOMES OCEAN PARK 3 OCEAN CITY APPA 2024 APPA 2024 On May 31, Vinhomes was recognized among Top
Slide 16: Updates on Selected Pipelines to be Launched in 2H2024
VINHOMES JOINT STOCK COMPANY 16 4. Updates on Selected Pipelines to be Launched in 2H2024 Vinhomes Co Loa • Large-scale mixed-use integrated residential Description and commercial project Vinhomes Co Loa is a unique project with a Location • Dong Anh, Hanoi combination of a lively suburban community
Slide 17: 1H2024 Financial Highlights
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 17 1H2024 Financial Highlights Vinhomes Central Park, HCMC
Slide 18: 1H2024 Highlights
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 18 VINHOMES JOINT STOCK COMPANY 1H2024 Highlights Vinhomes Projects BCC Projects(2) (Equity Accounting) 1. Revenue from Sale of Inventory • Total: VND 21.9 trillion • Total: VND 11.5 trillion Properties(1) • Key contributors: • Key contributo
Slide 19: Financial Performance 1H2024 vs. 1H2023
VINHOMES JOINT STOCK COMPANY 19 Financial Performance 1H2024 vs. 1H2023 Figures in VND billion 1H2024 1H2023 Change Key Commentary • Deliveries at Vinhomes OCP1-2-3 and Golden Avenue were the key drivers Sale of Inventory Properties(1) 21,927 56,825 -61% • Variance in handover timing resulted in low
Slide 20: Financial Performance 1H2024 (Vinhomes Projects & BCC Projects)
VINHOMES JOINT STOCK COMPANY 20 Financial Performance 1H2024 (Vinhomes Projects & BCC Projects) Summary BCC Project Performance and Reconciliation Figures in VND billion Royal Island (Hai Phong, low-rise) Others Total BCC Projects Revenue 11,674 389 12,063 Cost of Sales -2,986 -174 -3,160 Gross Prof
Slide 21: 1H2024 Financial Performance Overview
VINHOMES JOINT STOCK COMPANY 21 1H2024 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 52.2% 47.2% 55.1% 37.7% 53.7% 50.8% 13% 37.3% 64.2% 55.6% 59.4% 33.0% 39.2% 120,000 CAGR 2020-2023 103,557 100,000 84,986 12,687 11% 10,635 1,201 CAGR 2020
Slide 22: 1H2024 Financial Performance Incorporating BCCs and Bulk Sales
VINHOMES JOINT STOCK COMPANY 22 1H2024 Financial Performance Incorporating BCCs and Bulk Sales Adjusted Total Revenue Adjusted Gross Profit and Gross Profit Margin VND billion VND billion 52.2% 47.2% 55.1% 47.6% 53.7% 50.8% 7% 45.6% 64.7% 60.0% 38.6% 41.0% 50.2% CAGR 2020-2023 125,943 12,687 80,000
Slide 23: Balance Sheet Overview
VINHOMES JOINT STOCK COMPANY 23 Balance Sheet Overview Total Assets Inventories VND billion VND billion 494,461 0,000 444,631 70,000 64,362 55,318 56,311 361,813 60,000 0,000 228,663 202,290 50,000 42,984 0,000 215,326 230,516 165,277 40,000 0,000 28,579 30,000 0,000 113,014 136,079 265,798 20,000 2
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 % % 15% 30% 24.0% 25% 10.5% 21.2% 10% 9.1% 20% 15% 12.5% 5.4% 10.3% 4.6% 4.7% 5% 10% 7.8% 5% 0% 0% 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 30-Jun-24 31-Dec-20 31-Dec-21
Slide 25: 1H2024 Debt Profile
VINHOMES JOINT STOCK COMPANY 25 1H2024 Debt profile Strong balance sheet and robust liquidity position Balanced Debt Mix (1) Diversified Debt Structure 14% Average cost of debt Average debt maturity 39% 10.2% 1.5 years VND 70.5 50% VND 70.5 trillion trillion TTM Interest Coverage % of fixed rate deb
Slide 26: Outlook for 2H2024
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 26 Outlook for 2H2024 • As of June 2024, a significant backlog of unbilled bookings amounting to VND 118.7 trillion lays a solid foundation for future earnings, 1 showcasing resilience amid persistent market challenges. Robust financial backl
Slide 27: Appendix Additional Materials
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 27 Appendix Additional Materials Ocean City
Slide 28: 2Q2024 Financial Performance Overview
VINHOMES JOINT STOCK COMPANY 28 2Q2024 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 52.2% 47.2% 55.1% 37.7% 45.3% 55.1% 13% 37.3% 64.2% 55.6% 59.4% 42.2% 41.7% 120,000 CAGR 2020-2023 103,557 100,000 84,986 12,687 11% 10,635 1,201 50,000 CA
Slide 29: 2Q2024 Financial Performance Incorporating BCCs and Bulk Sales
VINHOMES JOINT STOCK COMPANY 29 2Q2024 Financial Performance Incorporating BCCs and Bulk Sales Adjusted Total Revenue Adjusted Gross Profit and Gross Profit Margin VND billion VND billion 52.2% 47.2% 55.1% 47.6% 45.3% 55.1% 7% 45.6% 64.7% 60.0% 43.6% 43.3% 53.3% CAGR 2020-2023 121,357 12,687 80,000
Slide 30: Social Housing Projects Scheduled for Launch under Happy Home Brand
VINHOMES JOINT STOCK COMPANY 30 Social Housing Projects Scheduled for Launch under Happy Home Brand Social Housing in Nam Trang Cat • Deliver the dream of home ownership for millions of low-income people Location • Trang Cat Ward, Hai An District, Hai Phong • Create modern urban developments, and im
Slide 31: Investor Relations Department
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 31 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://
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