Vietnam's largest private corporation Vingroup earns $85 mln profit in 2022
Vingroup, Vietnam’s largest listed company by market capitalization, earned a post-tax profit of VND1,982 billion ($84.52 million) in 2022, versus a loss of VND7,558 billion ($322.3 million) in 2021.
The conglomerate posted a revenue of VND101,590 billion ($4.33 billion), down 19.23% from VND125,780 billion ($5.36 billion) a year ago, according to its latest financial report.
Landmark 81 skyscrapper in Ho Chi Minh City is an iconic building developed Vingroup. Photo courtesy of the company.
Vingroup, listed on the Ho Chi Minh Stock Exchange (HoSE) as VIC, noted its businesses were on track to rebound to pre-pandemic levels last year.
VinFast, the vehicle arm, sold 24,000 vehicles, including 7,400 electric vehicles and 60,000 electric motorbikes, up 36% year-on-year.
In December 2022, VinFast submitted an application to the US Securities Exchange Commission (SEC) to register for an initial public offering of common shares.
Regarding real estate and services, Vinhomes, listed on the HoSE as VHM, earned a net profit of VND29,001 billion ($1.24 billion), or 97% of the target on an adjusted revenue of VND81,406 billion ($3.47 billion), beyond the goal of VND75,000 billion ($3.2 billion), thanks to the recovery of the sector after two years of the Covid-19 pandemic.
Vincom Retail doubled its net income to VND2,735 billion ($116.67 million), while the revenue jumped 24.06% year-on-year to VND7,309 billion ($311.67 million).
Vinpearl's resort and tourism activities recovered in line with market momentum. The total number of room nights sold in 2022 reached nearly 1.3 million, up 60% compared to 2021.
In the fourth quarter of last year, Vingroup made a post-tax profit of VND274.53 billion ($11.71 million) on a revenue of VND914.13 billion ($38.98 million), down 57% and 58% year-on-year, respectively.
The conglomerate attributed the sinking figures to the falling number of delivered properties. Besides, Its financial revenue jumped 81% to VND1,616 billion ($68.93 million) thanks to higher incomes from deposits and lending.
Vingroup said it had successfully raised $1.1 billion from international capital markets in 2022.
VIC shares closed the Tuesday session at VND55,200 ($2.35) per unit.
- Related News
- Read More
Vietnam to soon raise taxpayers' personal deduction: official
The personal income tax deduction in Vietnam is "very likely" to increase to VND21.7 million ($823,940) per month, including VND15.5 million (588,530) for the taxpayer and VND6.2 million ($235,410) for each dependent.
Finance - Thu, October 16, 2025 | 6:25 pm GMT+7
Business confidence climbs as reforms gain traction amid global headwinds: EuroCham Vietnam
The index climbed to 66.5, surpassing pre-tariffs level and reaching its highest in three years – showcasing resilience and adaptability amid global headwinds and evolving U.S. tariff pressures.
Economy - Thu, October 16, 2025 | 4:36 pm GMT+7
Vietnam's stock market watchdog suspends two Grant Thornton auditors
Vietnam's State Securities Commission (SSC) has suspended two auditors from Grant Thornton Vietnam after determining that the 2024 audited financial statements of Saigon Water Infrastructure Corporation (HoSE: SII) failed to meet required standards.
Banking & Finance - Thu, October 16, 2025 | 3:35 pm GMT+7
Law No. 56 a major policy breakthrough for Vietnam's stock market development
The Law No. 56, effective January 1, 2025, is one of the major legal breakthroughs in recent years that will enhance the transparency and operational efficiency of the Vietnamese stock market.
Finance - Thu, October 16, 2025 | 2:30 pm GMT+7
WHA Group breaks ground on smart technology industrial zone in central Vietnam
Thailand's WHA Group on Tuesday broke ground on a world-class, modern, and environmentally friendly industrial zone in central Vietnam, namely the WHA Smart Technology Industrial Zone-Thanh Hoa.
Real Estate - Thu, October 16, 2025 | 2:00 pm GMT+7
Vietnam a key partner in Murphy Oil’s global strategy: exec
Vietnam remains a key partner in Murphy Oil’s global business strategy, said Eric Hambly, the U.S. corporation's president and CEO.
Companies - Thu, October 16, 2025 | 12:06 pm GMT+7
VNPT, Qualcomm debut Vietnam’s 1st original design-based excellence center
State-owned Vietnam Posts and Telecommunications Group (VNPT) and Qualcomm have officially launched the VNPT-Qualcomm Excellence Center (VQEC), the first facility in the country to operate under an original design co-development model using Qualcomm’s core technologies.
Companies - Thu, October 16, 2025 | 8:41 am GMT+7
Indonesia enjoys steady growth in nine months
Indonesia's Ministry of Finance on Tuesday announced the country’s 2025 budget performance as of September, reporting that Southeast Asia’s largest economy continued to post steady growth despite global economic uncertainties.
Southeast Asia - Wed, October 15, 2025 | 9:53 pm GMT+7
Malaysia on progressive path towards AI nation status: experts
Malaysia is on a progressive track towards becoming an Artificial Intelligence (AI) nation by 2030, a goal seen as achievable under Budget 2026 - the Malaysian Government’s fiscal and policy framework for 2026.
Southeast Asia - Wed, October 15, 2025 | 9:44 pm GMT+7
Thailand steps up development of semiconductor industry
Thailand’s Board of Investment (BOI) plans to propose a new national semiconductor and advanced electronics policy board to the government, which will spearhead Thailand’s semiconductor development strategy.
Southeast Asia - Wed, October 15, 2025 | 9:40 pm GMT+7
ASEAN sets ambitious energy targets
Senior energy officials from ASEAN member nations and Timor-Leste on Tuesday convened in Kuala Lumpur, Malaysia, to finalize key outcomes and policy recommendations to be submitted to the 43rd ASEAN Ministers on Energy Meeting (AMEM).
Southeast Asia - Wed, October 15, 2025 | 9:33 pm GMT+7
Sun Group gets nod for $375 mln inland waterway tourism project in central Vietnam
A subsidiary of Sun Group, one of Vietnam’s leading real estate developers, has received approval to invest VND9.88 trillion ($375 million) in an inland waterway tourism project in the central coastal city of Danang.
Industries - Wed, October 15, 2025 | 5:21 pm GMT+7
Vietnamese luxury car dealer Haxaco’s business slumps, stock nears two-year low
The operations of Hang Xanh Automobile Service JSC or Haxaco (HoSE: HAX), known as the largest distributor of Mercedes-Benz vehicles in Vietnam, are under pressure as consumers tighten spending and competition among car brands intensifies.
Companies - Wed, October 15, 2025 | 5:13 pm GMT+7
Vietnam sets 2026 GDP growth target at 10%
The Vietnamese Government has set the targets for economic expansion in 2026 at about 10% and inflation at 4.5%.
Economy - Wed, October 15, 2025 | 4:28 pm GMT+7
Movement of mega projects creates momentum for central Vietnam's Van Phong Economic Zone
A series of large-scale projects in Van Phong Economic Zone are being accelerated, opening new prospects for breakthroughs in this key growth hub of Khanh Hoa province.
Industries - Wed, October 15, 2025 | 12:24 pm GMT+7
Vietnam's International Financial Center ambition can unlock new wave of innovation
By embedding clarity, consistency, and collaboration into the foundations of its International Financian Center, Vietnam can create not just another financial center, but a hub for innovation that connects Asia to the world, writes Phil Wright, COO, HSBC Vietnam.
Consulting - Wed, October 15, 2025 | 11:03 am GMT+7
