Vingroup Joint Stock Company · HOSE:VIC
Vingroup Joint Stock — Q1 2025 Earnings Presentation
31 slides from Vingroup Joint Stock's earnings presentation, April 2025
Slide 1: 1Q2025 Earnings Presentation
GROUP 1Q2025 Earnings Presentation
Slide 2: Important Notice
12025 EARNINGS PRESENTATION Important Notice 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 Vingroup Joint Stock Company (the
Slide 3: Agenda
12025 EARNINGS PRESENTATION Agenda 1 Business Highlights 2 Macroeconomic Updates 3 Business Updates 4 Financial Summary 5 2025 Outlook
Slide 4: 1. Business Highlights
1. Business Highlights
Slide 5: Macroeconomic
Macroeconomic Solid economic performance amid global headwinds Industrials - Technology VinFast reinforced domestic market position Real Estate and Services Impressive project roll- out 32 192024 192025 192024 192025 GDP Growth rate (%) Inflation rate (%) EV deliveries globally 36,330 +296% YoY Vinh
Slide 6: 1Q2025 Highlights (Cont’d)
12025 EARNINGS PRESENTATION 6 1Q2025 Highlights (Cont’d) Unit: VND billion 192025 102024 Change Total adjusted revenue Net profit after tax Industrials 15,675 6067 158% VND84,053bn VND2,243bn . 4 287% YoY 4 68% YoY Trade and services 58,200 9,342 A 523% Social Enterprises 3,004 2,582 A 16% ¥ Complet
Slide 7: 2. Macroeconomic Updates
91Q2025 EARNINGS PRESENTATION 2. Macroeconomic Updates
Slide 8: Lending rates and retail sales
10 8 6 4 Average lending rate (lowest) 2 Average Lending rate (highest) 1Q2024 1Q2025 1Q2024 1Q2025 VNM CHN IDN MYS PHL THA 1Q2021 1Q2022 1Q2023 1Q2024 1Q2025 0 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 600 ▲ 500 400 300 Total retail sales Retail sales of goods and services 200 Services 100 0 1Q2021
Slide 9: Macroeconomic indicators by quarter
15 ▲ ▼ 12 9 6 3 - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2023 2024 2025 2023 2024 2025 8 ▲ 6 4 2 - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2023 2024 2025 2023 2024 2025
Slide 10: 3. Business Updates
Slide 11: Operational highlights
Operational highlights ~~ 36,330 44,904 EV deliveries globally 1Q2025' E-scooter deliveries 1Q2025 +296% YOY +473% YoY -_ B22 >1 million showrooms, charging points?
Slide 12: Vietnam - Leading with Conviction
12025 EARNINGS PRESENTATION Vietnam - Leading with Conviction Capturing larger share of the fast-growing market Leading by a large margin Topping the best seller charts Automobile market in Vietnam (12024 - 1Q2025)! Automobile deliveries in 1Q2025 by brands! Automobile deliveries in Vietnam in 1@202
Slide 13: Global markets presence
Asia ✓ North ✓ America ✓ EMEA ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Slide 14: Residential
Residential Adjusted revenue! from property sales in 192025 Vinhomes'’ contracted sales in 1Q2025 Vinhomes'’ unbilled sales as of Mar-25 Hospitality and Entertainment Occupancy Rate 192025 Number of visits to VinWonders in 1Q2025
Slide 15: Residential sales and backlog
140.0 120.0 100.0 80.0 60.0 40.0 20.0 - 2021 2022 2023 2024 1Q2024 1Q2025 Dec-21 Dec-22 Dec-23 Dec-24 Mar-25 180 VND trillion 160 140 120 100 80 89.6 60 40 51.7 20 35.0 0 2021 2022 2023 1Q2024 2Q2024 3Q2024 4Q2024 0.0 2024 1Q2025
Slide 16: Residential: Activating Southern Projects
1Q2025 EARNINGS PRESENTATION Residential: Activating Southern Projects Vinhomes Green City - Long An’s first integrated urban area Y Groundbreaking: March 26, 2025, in Duc Hoa District, Long An Y Scale: 197.2 hectares Y Prime connectivity: Direct access to HCMC, the Southwest region, and Cambodia vi
Slide 17: Tourist visitors
No. of visitors ('000 of people) YoY Growth (times) 1,800 2.5 China 1,500 2.0 Cambodia 1,200 1.5 900 Russia 1.0 600 Other Asian and Oceania nations 300 0.5 Rest of the word - - Q12019 Q12020 Q12022 Q12023 Q12024 Q12025 China S.Korean Taiwan The US Cambodia Japan
Slide 18: Hospitality performance
1Q2019 1Q2024 1Q2025 1Q2019 1Q2024 1Q2025 ✓ ✓ Khanh Hoa Phu Quoc Da Nang Total Vinpearl Marriott Melia Hotel Total Domestic International Total International International
Slide 19: Hospitality and entertainment performance
1Q2019 1Q2024 1Q2025 1Q2019 1Q2024 1Q2025 ✓ ✓ ✓ ✓
Slide 20: Other Businesses
a on. Other Businesses ¢
Slide 21: Other Businesses: Delivering Excellence
12025 EARNINGS PRESENTATION Other Businesses: Delivering Excellence Vinschool races ahead with EDURUN and new accredited campuses <I u VIN: OL The annual EDURUN race received a record donation of VND 3.7 billion. VND 3.7 billion Of donations to build schools in suburban areas 8,500 Participants Vins
Slide 22: 4. Financial Summary
Slide 23: Property and non-property revenue
2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 Property revenue Non-property revenue
Slide 24: Revenue by segment
2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 Property sales Industrials Hospitality & entertainment services Education Healthcare Leasing Others 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025
Slide 25: Profit and cash flow
7,000 5,000 3,000 1,000 (1,000) (3,000) (5,000) 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025
Slide 26: Assets, equity and leverage
Property sale Industrials Hospitality & entertainment Leasing Dec-22 Dec-23 Dec-24 Mar-25 2022 2023 2024 LTM2025 Healthcare & education Others Total Debt / EBITDA Net Debt / EBITDA Total assets Total equity
Slide 27: Debt composition and maturity
Bank borrowings and others Syndicated loan & Int'l bond Domestic bond Revolving bank loan Less than 1 year 1-3 years 3-5 years More than 5 years
Slide 28: Leverage, Coverage and Other Ratios
12025 EARNINGS PRESENTATION Leverage, Coverage and Other Ratios LTM as of 31.3.2025 FY 31.12.2024 Change Leverage ratios Net debt!?/ EBITDA? 2.5x 2.3x +0.2x Net debt! / (Total assets - cash & ST investments”) 24.1% 20.1% +400Bps Coverage ratios Recurring revenue / Interest expense® 44x 4.2x +0.2x EB
Slide 29: 5. 2025 Outlook
12025 EARNINGS PRESENTATION 5. 2025 Outlook “’8E vinhomes Ocean Park 1
Slide 30: 2025 Outlook
12025 EARNINGS PRESENTATION 2025 Outlook Targeted Consolidated Revenue VND 300,000 billion +59% vs 2024 Revenue Targeted Profit After Tax VND 10,000 billion +90% vs 2024 Profit after tax © Social Enterprises 4 whe + Key drivers in 2025 © Industrials and Technology - + Solidifying leadership position
Slide 31: Company Information
Company Information Vingroup today bases its strategy on the principles of sustainability and professional management to operate in three major business segments: «Industrials - Technology = VinFast, the first and largest domestic comprehensive automobile manufacturer and electric scooter producer i
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