Vietnam conglomerate Vingroup’s H1 profit surges 120% on robust real estate, EV performance

Vingroup JSC (HoSE: VIC) reported a consolidated net profit of VND4,509 billion ($172.2 million) in the first half of 2025, up 120% year-on-year, driven by strong performance in real estate and electric vehicle segments.

Consolidated net revenue surged to VND130.37 trillion ($4.98 billion) in the six-month period, more than doubling from the same period last year, according to its Q2 financial statement.

In Q2, the firm recorded a net profit of VND2.27 trillion ($86.49 million) on revenue of VND46.3 trillion ($1.77 billion), up 31% and 9% year-on-year, respectively.

The growth was fueled by robust contributions from the technology-industrial, real estate, and hospitality segments.

In its technology-industrial segment, EV subsidiary VinFast, with 394 showrooms globally, delivered 72,167 units in H1, up 3.2 times from a year earlier. In Vietnam, the company retained its leading market position with 67,569 units sold or 93.6% of the total.

The VF 3, VF 5, and VF 6 were among the top-selling models domestically. VinFast also posted a new record in its two-wheeler segment, delivering 114,484 electric scooters, a 5.5-fold increase year-on-year.

Internationally, the company continued its global expansion by forming dealership and service center partnerships in India, Indonesia, and the Philippines. The company is also preparing to launch two manufacturing plants in India and Indonesia to meet local demand.

Vingroup’s commercial and services division also reported a sharp increase in real estate sales, totaling VND70.5 trillion ($2.69 billion) in H1, nearly triple the figure from a year ago.

Vinhomes JSC (HoSE: VHM) was a major contributor, booking VND67.5 trillion ($2.58 billion) in sales, with VND138.2 trillion ($5.28 billion) in unearned revenue as of end-Q2.

In the hospitality segment, Vinpearl JSC (HoSE: VPL) recorded operating revenue of VND7.9 trillion ($301.65 million) during the first half, including VND5.1 trillion ($194.74 million) from hotel services, up 26% year-on-year.

As of June 30, Vingroup’s total assets reached VND964.44 trillion ($36.83 billion), a 15% increase compared to the end of 2024.

On the Ho Chi Minh City Stock Exchange (HoSE), VIC closed Thursday at VND105,500 ($4.03) apiece.