Vinhomes Joint Stock Company · HOSE:VHM
Vinhomes Joint Stock — Q3 2023 Earnings Presentation
31 slides from Vinhomes Joint Stock's earnings presentation, Oct 23, 2023
Slide 1: 3Q2023 Earnings Presentation
VINHOMES JOINT STOCK COMPANY 1 3Q2023 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 3Q2023 Macro Update 9M2023 & Market Trend Financial Highlights 01 03 05 02 04 Key Messages & 3Q2023 4Q2023 9M2023 Snapshot Business Updates Company Outlook
Slide 4: Key Messages
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 4 Key Messages Vietnam's positive Q3 GDP growth Inflation contained with 3Q CPI Property market’s signs of recovery with Vinhomes 9M contracted sales 1 2 +5.33% YoY +2.89% YoY Improving transactions VND 56.7 trillion Despite global headwinds
Slide 5: 9M2023 Snapshot
VINHOMES JOINT STOCK COMPANY 5 9M2023 Snapshot 1. On-schedule deliveries at Vinhomes Ocean Park 3 resulted in strong financial performance 1Q2023 9M2023 9M2022 YoY (%) Net Revenue VND VND29.3 94.6trillion trillion VND 31.2 trillion 203% Total Adjusted Revenue Net Profit after Tax (1) Adjusted Total
Slide 6: Pre-sales Driven by Staged Launches from Existing Large-Scale Projects
VINHOMES JOINT STOCK COMPANY 6 Pre-sales Continued to be Driven by Staged Launches from Existing Large-Scale Projects Contracted Sales(1) OCP 3 launched Unbilled Bookings(2) OCP 2 launched 180 VND trillion VND trillion 180 VND trillion VND trillion Retail sales volumes impacted by social distancing
Slide 7: 3Q2023 Macro Update & Market Trend
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 7 3Q2023 Macro Update & Market Trend Vinhomes Ocean Park, Hanoi
Slide 8: Resilient Economic Growth amid Challenging Global Landscape
VINHOMES JOINT STOCK COMPANY 8 Resilient Economic Growth amid Challenging Global Landscape Vietnam’s economy remains a bright spot amid Four interest rate cuts since early 2023 has helped Timely supportive actions improved market global volatility ease liquidity constraints sentiment 14 Inter - Bank
Slide 9: Hanoi – Improving Buyers' Sentiment Lifted Absorption Rate
VINHOMES JOINT STOCK COMPANY 9 Hanoi – Improving Buyers’ Sentiment Lifted Absorption Rate Condominium: Sold units exceeded new launches in 3Q Landed property: Limited new launches during the period Units Units 3,000 3,160 Supply surged due to launches of 2 710 3Q2023 units launched units sold mega t
Slide 10: HCMC – New Launches Drove Performance
VINHOMES JOINT STOCK COMPANY 10 HCMC – New Launches Drove Performance Condominium: 3Q new supply improvement, equivalent to 1H2023 Units 40,000 3,625 2,650 1 • 60% of new launches from Vinhomes Grand Park in 9M2023 3Q2023 units launched units sold 30,000 • The East continued to be key hub of new sup
Slide 11: 3Q2023 Business Updates
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 11 3Q2023 Business Updates
Slide 12: Diversify Customer Experiences with Differentiated Offering
VINHOMES JOINT STOCK COMPANY 12 1. Diversify Customer Experiences with Differentiated Offering Mega Grand World complex at Vinhomes • To prepare for official opening in December 2023, Ocean Park 2 & 3 was first introduced on 7 July 2023, Vinhomes partnered with Vincom Retail to attract receiving str
Slide 13: Unrivalled in Creating Livable Townships and Communities
VINHOMES JOINT STOCK COMPANY 13 2. Unrivalled in Creating Livable Townships and Communities in Vietnam Italiana Summer Party and K-Food Fair at Vinhomes Ocean Park 2 & 3 Brighton College launched first year in Vinhomes Ocean Park campus • On September 16, Vinhomes organized • In September, Brighton
Slide 14: Maintained Market-Leading Profile in International and Domestic Market
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 14 3. Maintained Market-Leading Profile in International and Domestic Market WORLD’S TOP 20 MOST VALUABLE PROPERTY BRANDS USD 1.74 Billion in Value On August 15, 2023, Vinhomes was named a Top 20 most valuable real estate brands in the world
Slide 15: Updates on Selected Pipelines to be Launched in 2024
VINHOMES JOINT STOCK COMPANY 15 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 Located between Hanoi, Ha Long and surrounding renowned Vinpearl Vu Located at the west of H
Slide 16: 9M2023 Financial Highlights
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 16 9M2023 Financial Highlights Vinhomes Smart City, Hanoi
Slide 17: 9M2023 Highlights
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 17 VINHOMES JOINT STOCK COMPANY 9M2023 Highlights Vinhomes Projects BCC Projects(2) (Equity Accounting) 1. Revenue from Sale of Inventory • Total: VND 85.7 trillion • Total: VND 2.1 trillion Properties(1) • Key contributors: • Key contributor
Slide 18: Financial Performance 9M2023 vs. 9M2022
VINHOMES JOINT STOCK COMPANY 18 Financial Performance 9M2023 vs. 9M2022 Figures in VND billion 9M2023 9M2022 Change Key Commentary Sale of Inventory Properties(1) 85,737 22,453 282% • Deliveries of low-rise units at Vinhomes Ocean Park 2 and 3 were the key drivers Other Revenue 8,899 8,746 2% Total
Slide 19: Financial Performance 9M2023 (Vinhomes Projects & BCC Projects)
VINHOMES JOINT STOCK COMPANY 19 Financial Performance 9M2023 (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 2,070 37 2,107 Cost of Sales -701 -65 -766 Gross Profit 1,369 -2
Slide 20: 9M2023 Financial Performance Overview
VINHOMES JOINT STOCK COMPANY 20 9M2023 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 54.1% 52.2% 47.2% 55.1% 37.4% 52.8% 7% +203% 55.4% 37.3% 64.2% 55.6% 59.8% 38.8% 120,000 CAGR 100,000 84,986 94,637 7,951 4% +129% 10,635 CAGR 48,460 906 9
Slide 21: 9M2023 Financial Performance Incorporating BCCs and Bulk Sales
VINHOMES JOINT STOCK COMPANY 21 9M2023 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% 37.4% 52.8% 5% +118% 54.4% 45.6% 64.7% 60.0% 66.5% 43.7% CAGR 120,000 98,697 108,447 7,951 80,000 6% +55%
Slide 22: Balance Sheet Overview
VINHOMES JOINT STOCK COMPANY 22 Balance Sheet Overview Total Assets Inventories VND billion VND billion 417,039 391,331 0,000 361,813 70,000 64,362 60,297 60,000 55,700 55,104 0,000 201,982 165,277 201,020 50,000 42,984 215,326 230,516 0,000 197,241 40,000 28,579 0,000 57,686 113,014 136,079 30,000
Slide 23: Key Credit Metrics
VINHOMES JOINT STOCK COMPANY 23 Key Credit Metrics Net Debt (1) / (Total Assets – Cash & Cash Equivalent (2)) Net Debt(1) / Equity % % 10% 25% 8.9% 8.7% 19.8% 19.9% 19.7% 7.0% 20% 5.5% 15% 12.9% 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 30-Jun-23 30-Sep-23 31-Dec-1
Slide 24: Debt Profile
VINHOMES JOINT STOCK COMPANY 24 Debt profile Strong balance sheet and robust liquidity position Balanced debt mix (1) Diversified Debt Structure Domestic bond USD 13% Average cost of debt Average debt maturity 15% 10.5% 1.7 years VND 43.1 VND 43.1 trillion trillion Other 25% Interest Coverage Ratio
Slide 25: Outlook for 4Q2023 and 2024
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 25 Outlook for 4Q2023 and 2024 • Substantial unbilled bookings of VND 76.9 trillion as of 30 September 2023 serves as a strong foundation for future earnings, even in the face 1 of persistently challenging market conditions Visible future ear
Slide 26: Appendix Additional Materials
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 26 Appendix Additional Materials Vinhomes Central Park, HCMC
Slide 27: Financial Performance 3Q2023 vs. 3Q2022
VINHOMES JOINT STOCK COMPANY 27 Financial Performance 3Q2023 vs. 3Q2022 Figures in VND billion 3Q2023 3Q2022 Change Key Commentary Sale of Inventory Properties(1) 28,912 14,344 102% • Deliveries of low-rise units at Vinhomes Ocean Park 3 were the key drivers Other Revenue 3,812 3,461 10% Total Reven
Slide 28: 3Q2023 Financial Performance Overview
VINHOMES JOINT STOCK COMPANY 28 3Q2023 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 54.1% 52.2% 47.2% 55.1% 13.9% 52.4% 7% +84% 55.4% 37.3% 64.2% 55.6% 59.4% 50.2% 120,000 CAGR 100,000 84,986 4% +61% 10,635 CAGR 48,460 906 50,000 80,000 71
Slide 29: 3Q2023 Financial Performance Incorporating BCCs and Bulk Sales
VINHOMES JOINT STOCK COMPANY 29 3Q2023 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% 13.9% 52.4% 5% +6% 54.4% 45.6% 64.7% 60.0% 68.4% 49.6% CAGR 120,000 98,697 80,000 6% 3,339 94,562 70,000 C
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 • Deliver the dream of home ownership Nam Trang Cat project for millions of low-income people • Create modern urban developments, Location • Trang Cat Ward, Hai An District, Hai Phong and improve the
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://
Vinhomes Joint Stock Company — Q3 2023 Earnings Presentation on 6ix