Vingroup subsidiary expects 17-fold surge in net profit
Vietnam Exhibition Fair Centre JSC (VEF), a subsidiary of conglomerate Vingroup, said it targets to rake in a net profit of VND16 trillion ($615.89 million) in 2025, nearly 17 times higher than last year’s figure.
According to the plan, to be submitted at the company’s 2025 AGM later this month, its revenue is expected to reach VND44 trillion ($1.69 billion), a 9,565-fold rise from the VND4.6 billion ($177,069) recorded in 2024.
VEF's leadership aims to continue the simultaneous implementation of several projects in Hanoi this year, including the national exhibition and fair center in the outlying district of Dong Anh, the mixed-use commercial and service complex in Ba Dinh district, and the functional area in the South Thang Long Road urban project in Nam Tu Liem district.
Notably, the Dong Anh project, with construction kicked off in August 2024, is positioned as a modern exhibition hub with regional and international reach.
Located close to Noi Bai International Airport and several minutes of drive from the inner city, the 90-hectare center, is expected to be a venue for global trade events and exhibitions. It will replace the previous national exhibition center on Giang Vo street, Ba Dinh district.
As of March 31, the company completed transfer procedures for part of the project.
A perspective view of the national exhibition and fair center in Hanoi's outlying district of Dong Anh. Photo courtesy of Vingroup.
Shareholders to receive 435% dividend
In 2024, VEF reported net revenue of over VND4.6 billion ($177,069), nearly halving compared to 2023.
Its net profit reached VND942 billion ($36.26 million), up 117% from 2023, surpassing the unaudited report by more than VND243 billion ($9.35 million). Earnings per share (EPS) stood at VND5,655 ($0.22).
In Q1/2025, the company reported a pre-tax profit of nearly VND18.61 trillion ($716.36 million), more than 160 times higher than the same period last year. VEF led not only in growth rate but also in absolute profit value for the quarter.
The spike was fueled by VEF’s booking of VND44.56 trillion ($1.72 billion) in revenue from the partial transfer of its Vinhomes Global Gate project in Dong Anh district during the quarter.
On the back of strong results, the board of directors has proposed a cash dividend payout of 435%. Of this, 135% will be drawn from the post-tax profit as of the end of 2024 (VND13,500 or $0.52 per share), while 300% will come from Q1/2025 profit (VND30,000 or $1.15 per share).
Distribution is projected within six months of the AGM's conclusion.
Based on over 166.6 million shares outstanding, VEF is estimated to need about VND7.25 trillion ($279.08 million) to fund both dividend plans.
With an 83.32% stake, the parent company, Vingroup (HoSE: VIC), is expected to receive over VND6 trillion ($230 million) in dividends from VEF.
On the Unlisted Public Companies Market (UPCoM), VEF closed Friday at VND227,000 ($8.74) per share.
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