Vinhomes biggest net profit earner among Vietnam’s listed firms
Vinhomes, the housing development arm of private conglomerate Vingroup, earned a consolidated net profit of VND33.13 trillion ($1.36 billion) in 2023.
The figure represented a 14.9% year-on-year increase, according to the firm’s newly released Q4/2023 consolidated financial statement.
Chart by The Investor/Minh Tuan.
Its consolidated revenue jumped 65% year-on-year to VND103.33 trillion ($4.23 billion), driven by deliveries of 9,800 low-rise apartments at the Vinhomes Ocean Park 2 and 3 projects in the east of Hanoi.
As of December 31, 2023, Vinhomes had total assets of VND447.36 trillion ($18.33 billion), up 23.6% from a year earlier. Its cash and cash equivalents rose 30.4% to VND14.1 trillion ($578 million), while inventories slipped 18.7% to VND52.34 trillion.
Its liabilities went up 24.2% year-on-year to VND265 trillion ($10.86 billion).
Its shares, listed on the Ho Chi Minh Stock Exchange as VHM, slid 0.72% to VND41,200 ($1.69) apiece at the close of Thursday’s session.
- Related News
- Read More
Vietnam to add 6,793 MW to power sources in 2025, fulfilling electricity demand
Vietnam is set to add 10 new power source projects with a total capacity of 6,793 MW in 2025, fulfilling the country's electricity demand next year, says state utility Vietnam Electricity (EVN).
Energy - Sun, October 27, 2024 | 5:00 pm GMT+7
PPP funding, special mechanism proposed for $363 mln central Vietnam airport
Vietnam’s central province of Khanh Hoa has proposed developing Van Phong international airport through a public-private partnership with an initial estimated cost of VND9.2 trillion ($363 million).
Infrastructure - Sun, October 27, 2024 | 3:00 pm GMT+7
Taiwan cooling solution firm AVC doubles Vietnam investment to $400 mln
Asia Vital Components (AVC), a Taiwan-based cooling solution provider, will increase its investment in Vietnam’s northern province of Ha Nam to $400 million.
Industries - Sun, October 27, 2024 | 1:30 pm GMT+7
Vietnam plans to invest $13 bln in 2 railways linking to China
Vietnam’s Ministry of Transport is drafting plans to invest $13 billion in building and upgrading two railways linking Vietnam with China.
Infrastructure - Sun, October 27, 2024 | 10:00 am GMT+7
Mekong Delta province Ben Tre set to export fresh coconuts to China
Vietnam and China have reached agreement on conditions for exporting fresh coconuts from the former to the latter; and it was marked by a ceremony in the Mekong Delta province of Ben Tre on Friday.
Economy - Sun, October 27, 2024 | 9:00 am GMT+7
Top e-commerce platforms in Vietnam earn $9.5 bln in Jan-Sept, up 38%
The revenues of top five e-commerce marketplaces in Vietnam, namely Shopee, Lazada, Tiki, Sendo, and TikTok Shop, reached $9.5 billion in the first nine months of this year, up 37.7% year-on-year.
Companies - Sun, October 27, 2024 | 8:00 am GMT+7
6,000 international tourists arrive in Vietnam on 5-star cruises
Nearly 6,000 international guests have arrived in Vietnam aboard five-star cruise ships in the last two days and are set to visit a range of famous natural, historic and cultural landmarks in different regions.
Companies - Sat, October 26, 2024 | 10:08 pm GMT+7
Chinese online retail platform Temu submits papers for Vietnam operations
Chinese online retail platform Temu has submitted a document to Vietnamese authorities for registering its Vietnam operations.
Companies - Sat, October 26, 2024 | 9:38 pm GMT+7
Five investors register for $2.2 bln LNG power project in central Vietnam
Five investors have applied to join the $2.2 billion Quynh Lap LNG-fired power plant project in Nghe An, according to the provincial Department of Planning and Investment.
Investing - Sat, October 26, 2024 | 4:00 pm GMT+7
Southern Vietnam coastal province promotes fish sauce, chocolate, crafts at HCMC show
Farmers and businesses from Ba Ria-Vung Tau are promoting a range of specialties and OCOP (One Commune One Product) products from the province at an exhibition in Ho Chi Minh City.
Companies - Sat, October 26, 2024 | 2:19 pm GMT+7
Northern Vietnam province Quang Ninh has new Party chief
Vu Dai Thang, a Party Central Committee member and Party chief of Quang Binh province in central Vietnam, has been assigned as Party chief of Quang Ninh province for the 2020-2025 term.
Politics - Sat, October 26, 2024 | 1:40 pm GMT+7
Thai-controlled Sabeco to start acquiring 43% stake in brewer Sabibeco next week
Thai Beverage-controlled Sabeco will start its public tender offer to buy an additional 37.81 million shares, or a 43.2% stake, in local brewer Sabibeco on October 31 until December 25.
Companies - Sat, October 26, 2024 | 11:20 am GMT+7
Vietnam mining group Vinacomin appoints new CEO
Vu Anh Tuan, a board member of state-owned Vietnam Coal and Mineral Industry Group (Vinacomin) has been appointed general director, starting from last Monday.
Companies - Sat, October 26, 2024 | 11:14 am GMT+7
Foreign players net sell $46.4 mln worth of Vietnam equities this week
Foreign investors continued to net sell on the Vietnamese stock market this week, to the tune of VND1,178 billion ($46.43 million) as the U.S. dollar extended its strengthening.
Finance - Sat, October 26, 2024 | 9:39 am GMT+7
Northern Vietnam province sees five-year registered FDI exceeds target by 181%
Quang Ninh province in northern Vietnam expects to attract $10 billion in registered foreign direct investment (FDI) in the 2021-2025 period, local authorities say.
Investing - Sat, October 26, 2024 | 8:00 am GMT+7
Vietnam invites state-owned Chinese giant to join $67 bln high-speed railway project
Vietnam’s Commission for the Management of State Capital at Enterprises (CMSC) has invited China State Construction Engineering Corporation (CSCEC) to participate in and "make contributions" to the country’s $67-billion cross-country high-speed railway project.
Infrastructure - Fri, October 25, 2024 | 7:35 pm GMT+7
