Vinhomes Joint Stock Company · HOSE:VHM
Vinhomes Joint Stock — Q1 2026 Earnings Presentation
30 slides from Vinhomes Joint Stock's earnings presentation, Apr 28, 2026
Slide 1: 1Q2026 Earnings Presentation
VINHOMES JOINT STOCK COMPANY 1 1Q2026 Earnings Presentation April 28, 2026
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 Green Paradise, HCMC CONTENTS 1 Key Highlights 2 Macro & Sector Updates 3 Business Updates 4 Financial Summary 5 2026 Outlook 6 Appendix
Slide 4: Key Highlights
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 4 Key Highlights Vietnam’s 2026 forecast GDP growth New projects 1Q2026 contracted sales 1Q2026 adjusted revenue ▲ 7.2% YoY 1 new launch VND 81.7 trillion VND 71.5 trillion sig
Slide 5: Operational Performance 1Q2026 Details
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES VINHOMESJOINT JOINTSTOCK STOCKCOMPANY COMPANY 55 Operational Performance 1Q2026 Details 1Q2026 1Q2025 Change 4Q2025 Change Contracted sales (VND T)1 81.7 35.0 133% 42.7 91% Unbilled sales (at peri
Slide 6: Mega Project Launches Propel Pre-sales Momentum
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 6 300.0 Mega Project Launches Propel Pre-sales Momentum 250.0 Contracted sales trend1 1Q2026 contracted sales1 by project VND trillion 200.0 150.0 Green Paradise VND 120.7 tril
Slide 7: Macro & Sector Updates
VINHOMES JOINT STOCK COMPANY 7 Macro & Sector Updates Can Gio Mangrove Forest Road connecting to Vinhomes Green Paradise
Slide 8: Vietnam: A Resilient Growth Profile with Strong Fundamentals & Policy Discipline
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 8 Vietnam: A Resilient Growth Profile with Strong Fundamentals & Policy Discipline Positive GDP Backed by Decisive Reforms Credit Market Stability to be Maintained Policy Tailw
Slide 9: Hanoi Property Market – Positive Momentum Continues
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 9 Hanoi Property Market – Positive Momentum Continues Condominium: Supply Moderated into 1Q2026 Landed Property: Sustained Demand Amid Tight Supply Units Units | VND million ps
Slide 10: HCMC Property Market – Entering The Growth Phase
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 10 HCMC Property Market – Entering The Growth Phase Condominium: Expansion Zones Drive Growth in New Supply Landed Property: New Supply Eased in 1Q2026 Units Units | VND millio
Slide 11: Business Updates
VINHOMES JOINT STOCK COMPANY 11 VINHOMES JOINT STOCK COMPANY 11 Business Updates Vinhomes Hai Van Bay, Danang
Slide 12: Vinhomes Hai Van Bay – A Global Icon of Seaside Urban Living
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 12 Vinhomes Hai Van Bay – A Global Icon of Seaside Urban Living 512 hectares 19,000 residents land area planned population VND 44 trillion 4 sub-zones total investment developm
Slide 13: Vinhomes Global Gate Ha Long - A Global Wonder City on the Heritage Bay
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 13 Vinhomes Global Gate Ha Long - A Global Wonder City on the Heritage Bay Project Benefiting from Infrastructure and Connectivity Advantages 23 min. from Hanoi 380,000 residen
Slide 14: Vibrant Year-Round Hubs for Entertainment, Cultural Experiences, and Tourism
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 14 Vibrant Year-Round Hubs for Entertainment, Cultural Experiences, and Tourism SPRING FESTIVAL NEW YEAR FESTIVAL OCEAN UPBEAT COUNTDOWN VINHOMES GREEN PARADISE VINHOMES ROYAL
Slide 15: Vinhomes' Continued Dominance in Vietnam's Residential Real Estate Market
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 15 4% 62% 3% Vinhomes’ Continued Dominance in Vietnam’s Residential Real Estate Market 2% 2% Vinhomes Developer A Developer B Developer C Developer D Others 30.7% 30.2% 37.3%
Slide 16: ESG in Action with Regional Industry Recognition
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 16 ESG in Action with Regional Industry Recognition EMPLOYEE ENGAGEMENT PROGRAMS COMMUNITY ACTIVITIES ESG Training Program Fashion Show "Happy Hour" • Green Consumption Ocean C
Slide 17: Financial Summary
VINHOMES JOINT STOCK COMPANY 17 Financial Summary Blue Waves Theater, Vinhomes Green Paradise, HCMC
Slide 18: 1Q2026 Highlights
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 18 1Q2026 Highlights Vinhomes Projects BCC Projects2 (Equity Accounting) 1. Revenue from Sale of Inventory • Total Revenue: VND 54.8 trillion • Total Revenue: VND 6.4 trillion
Slide 19: 1Q2026 Financial Performance vs. 1Q2025
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 19 1Q2026 Financial Performance vs. 1Q2025 Figures in VND billion 1Q2026 1Q2025 Change Key Contributors to Performance • Sales from Vinhomes Ocean Park 2, Vinhomes Ocean Park 3
Slide 20: 1Q2026 Financial Performance (Vinhomes Projects and BCC Projects)
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 20 1Q2026 Financial Performance (Vinhomes Projects and BCC Projects) Figures in VND billion 1Q.2026 Adjusted Revenue (Excl. BCC)1 1Q.2026 Revenue from BCC Projects2 1Q.2026 Tot
Slide 21: 1Q2026 Financial Performance Overview
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 21 1Q2026 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 64.2% 55.6% 37.7% 39.9% 35.0% 26.3% 54.7% 47.2% 55.1% 59.4%
Slide 22: 1Q2026 Financial Performance Incorporating BCCs and Bulk Sales
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 22 1Q2026 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 23: Balance Sheet Overview
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 23 Balance Sheet Overview Total Assets Inventories VND trillion VND trillion 138.9 869.9 140,000 131.4 787.9 130,000 800,000 120,000 720,000 352 110,000 640,000 564.2 291 100,0
Slide 24: Key Credit Metrics
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 24 Key Credit Metrics Net Debt 1 / (Total Assets – Cash & Cash Equivalent 2) Net Debt1 / Equity % % 15% 14.1% 50% 45% 42.5% 12.2% 40% 35.9% 10% 9.1% 8.9% 35% 30% 25% 21.2% 21.3
Slide 25: Debt Profile
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 25 Debt Profile Strong balance sheet and robust liquidity position Balanced Debt Mix1 Diversified Debt Structure 1% 2% Average cost of debt Average debt maturity 10.38% 2.5 yea
Slide 26: 2026 Outlook
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 26 2026 Outlook Visible Sustainable Growth Favorable Macro Tailwinds FY2026 Targets • Robust top-line growth is expected to be driven by key • Vietnam is expected to maintain r
Slide 27: Appendix: Additional Information
VINHOMES JOINT STOCK COMPANY 27 Appendix: Additional Information Vinhomes Hai Van Bay, Danang
Slide 28: Ongoing and Key Pipeline Projects
Key Highlights Macro & Sector Updates Business Updates Financial Summary 2026 Outlook Appendix VINHOMES JOINT STOCK COMPANY 28 Ongoing and Key Pipeline Projects Driving Growth Through Strategically Positioned and Well-Diversified Land Bank5 Total development cost Registered Vinhomes’ effective Expec
Slide 29: Southern Coast
Key Highlights Macro & Sector Updates Business Updates Financial Summary Appendix VINHOMES JOINT STOCK COMPANY 29 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 880ha (~25km from HCM
Slide 30: Investor Relations Department
VINHOMES JOINT STOCK COMPANY 30 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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