Vinhomes profit drops 25% to $1.24 bln in 2022
Vinhomes, a subsidiary of Vietnam’s largest private conglomerate Vingroup, reported after-tax profit of VND29 trillion ($1.24 billion) in 2022, down 25% year-on-year.
Its consolidated net revenue was VND62,392 billion ($2.66 billion), down 26%.
In the fourth quarter of 2022, the company recorded consolidated net revenue of nearly VND31,200 billion ($1.33 billion), up 34% year-on-year, thanks to the handover of 2,200 more low-rise real estate units at the Vinhomes Ocean Park 2 - The Empire project.
The 458-hectare project, located in Nghia Tru and Long Hung communes, Van Giang district, Hung Yen province near Hanoi, made its debut in April 2022.
Illustration of the Vinhomes Ocean Park 2 - The Empire project. Photo courtesy of Vinhomes.
The company's real estate transfers were still its largest source of revenue with nearly VND28.7 trillion ($1.22 billion) in the quarter, accounting for nearly 92% of total consolidated revenue and up nearly 39% year-on-year.
In addition, it offers general construction services, design consultancy, and construction supervision.
Revenue from real estate management and rental services brought in trillions of dong (VND1 trillion = $42.65 million), all growing positively compared to Q4/2021.
Vinhomes JSC, listed on the HCMC Stock Exchange as VHM, is one of Vietnam’s largest real estate developers. It has been a pioneer in building and operating large-scale residential projects.
As of December 31, 2022, Vinhomes's total assets stood at VND361,200 billion ($15.4 billion), up 57% compared to the beginning of the year. Of this, cash and cash equivalents were more than VND14,700 billion ($626.86 million), up 53% thanks to the successful launch of the Vinhomes Ocean Park 2 - The Empire project.
Stable cash sources have helped Vinhomes to proactively accelerate the construction and further development of major projects and reduce dependence on loans. As a result, net debt only accounted for about 14.4% of equity.
By the end of Q4/2022, Vinhomes' equity stood at VND148,400 billion ($6.33 billion), up 13% compared to the beginning of the year.
- Related News
- Read More
Malaysia’s e-commerce revenue rises sharply
Malaysia’s e-commerce revenue for the first nine months of 2025 totalled MYR937.5 billion ($226.8 billion), up 1.9% compared to the same period in 2024, according to the Department of Statistics Malaysia (DOSM).
Southeast Asia - Mon, December 1, 2025 | 10:31 pm GMT+7
Vietnam’s benchmark VN-Index climbs above 1,700 points
VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), rose past the 1,700-point mark in the first trading session of December, supported mainly by gains in VIC (Vingroup), VPL (Vinpearl), and VHM (Vinhomes).
Finance - Mon, December 1, 2025 | 5:13 pm GMT+7
Samsung Vietnam appoints its first Vietnamese senior executive
Samsung Vietnam has appointed Nguyen Hoang Giang as vice president of Samsung Electronics Vietnam Thai Nguyen (SEVT), marking the first time a local national has been named to such a senior leadership position at a manufacturing unit of the company in Vietnam.
Companies - Mon, December 1, 2025 | 4:30 pm GMT+7
Vietnam to apply Euro 1 emission standards to pre-1999 cars from next March
Vehicles manufactured before 1999 in Vietnam must meet Level 1 emissions standards (equivalent to Euro 1) from March 1, 2026, according to a new government decision.
Economy - Mon, December 1, 2025 | 2:55 pm GMT+7
Aeon breaks ground on $38 mln shopping mall in Vietnam's Mekong Delta province Dong Thap
Japanese-invested Aeon Vietnam on Saturday broke ground for a VND1 trillion ($37.95 million) shopping mall project in the Mekong Delta province of Dong Thap, southern Vietnam.
Industries - Mon, December 1, 2025 | 1:46 pm GMT+7
EV makers in Vietnam likely to be exempted from battery collection, recycling requirements
Manufacturers of electric vehicle batteries in Vietnam are likely to be exempted from collection and recycling responsibilities, as producers currently do not have battery waste to recycle.
Economy - Mon, December 1, 2025 | 10:14 am GMT+7
Confidence in a new cycle for Vietnam’s stock market
Financial expert Huynh Hoang Phuong believes that Vietnam’s market status upgrade from "frontier" to "second emerging", set to be effective from September 2026, will provide an important foundation for the stock market to enter a new development cycle - one filled with many opportunities but also challenges.
Finance - Mon, December 1, 2025 | 6:59 am GMT+7
Malaysia leads Southeast Asia’s digital economic growth
Malaysia is now the fastest-growing digital economy in Southeast Asia with a year-on-year increase of 19%, and on track to reach $39 billion in gross merchandise value (GMV) this year, according to the 10th edition of the e-Conomy SEA Report 2025.
Southeast Asia - Sun, November 30, 2025 | 4:19 pm GMT+7
'K-pop Father' Lee Soo-man to build $99 mln entertainment-tourism complex in central Vietnam
South Korean producer Lee Soo-man, known as the “Father of K-pop,” plans to invest nearly VND2.6 trillion ($98.62 million) in a cultural, sports, recreation, commercial and tourism complex in Gia Lai province through Blooming Sky Co., Ltd.
Real Estate - Sun, November 30, 2025 | 12:09 pm GMT+7
Thailand’s WHA seeks special mechanisms for two industrial zone projects in central Vietnam
WHA Industrial Zone Nghe An, a unit of WHA Group - Thailand's leader in fully-integrated logistics and industrial facilities solution - has submitted a proposal to Nghe An province authorities seeking to have its projects included in the list of those eligible for special mechanisms.
Industrial real estate - Sun, November 30, 2025 | 10:07 am GMT+7
Steelmaker Nam Kim to explore tin-nickel coated steel production for EV battery shells
Nam Kim Steel JSC (HoSE: NKG), a leading coated‑steel manufacturer in Vietnam, plans to research production of tin‑coated steel for the packaging industry, and tin‑nickel coated steel for electric‑vehicle battery shells, serving both domestic and export markets.
Companies - Sun, November 30, 2025 | 8:00 am GMT+7
Cutting logistics costs to global average could save $45 bln a year for Vietnam: PM
Prime Minister Pham Minh Chinh said Vietnam could save $45 billion annually if it lowers logistics costs by around 16% to match the global average.
Economy - Sat, November 29, 2025 | 6:48 pm GMT+7
Coca-Cola Beverages Vietnam loses lawsuit against local tax authority
The Ho Chi Minh City People's Court on Thursday dismissed a lawsuit filed by Coca-Cola Beverages Vietnam against the Ministry of Finance's Department of Taxation, thereby upholding the department's decision to collect back taxes and impose a fine of over VND821 billion ($31.14 million) in total.
Finance - Sat, November 29, 2025 | 2:27 pm GMT+7
Honda Vietnam rejects information Honda Mobilityland plans 600-ha tourism, entertainment, sports complex in southern Vietnam
Honda Vietnam on Friday rejected the information that Honda Mobilityland Corporation, a subsidiary of Japan’s Honda Motor Co., plans to build an international circuit in Tay Ninh province, towards developing a 600-hectare tourism, entertainment, and sports complex there.
Industries - Sat, November 29, 2025 | 10:23 am GMT+7
Vietnam's largest tungsten mine has updated planning okayed
Vietnam’s Nui Phao mine, one of the world’s largest tungsten deposits outside China, has had its updated planning approved under a decision signed by Deputy Prime Minister Tran Hong Ha.
Economy - Sat, November 29, 2025 | 9:34 am GMT+7
Foreign-backed Arque Degi to build $322 mln floating tourism-urban projects in central Vietnam
Authorities in Gia Lai province have granted an investment certificate to Arque Degi JSC to develop three floating tourism-urban projects worth a combined VND8.5 trillion ($322.42 million) in the De Gi lagoon area.
Real Estate - Sat, November 29, 2025 | 8:00 am GMT+7
