Vinhomes Announced Business And Financial Results For The First Quarter Of 2020
Hanoi, April 27, 2020, Vinhomes Joint Stock Company (ticker “VHM”) released its consolidated financial statements of the first quarter of 2020 (1Q2020) prepared in accordance with the Vietnamese Accounting Standards (VAS).
In 1Q2020, pro-forma consolidated net revenue, including revenue from Vinhomes’ business activities, business cooperation contracts (BCC) and bulk sales transaction recognized as financial income, reached VND 18.535 trillion. Pro-forma revenue from sale of inventory properties in 1Q2020 was VND 17.733 trillion, accounting for 96% of the pro-forma consolidated revenue.
In 1Q2020, consolidated profit before tax was VND 10.124 trillion, and consolidated profit after tax and non-controlling interests reached VND 6.844 trillion, representing 201% and 169% increase compared to those of 1Q2019 respectively. Earnings per share (EPS) in 1Q2020 was VND 2,080, up 174% compared to that of 1Q2019.
As of March 31, 2020, Vinhomes had a total consolidated asset of VND 203.007 trillion, and a total equity of VND 72.339 trillion, representing an increase of VND 5.8 trillion and VND 7.6 trillion, respectively compared to the balances as of December 31, 2019.
During the first three months of 2020, Vietnamese companies including Vinhomes have been facing many challenges as the whole economy has been affected by the impact of the Covid-19 outbreak. Due to the complicated escalation of the Covid-19 situation, Vinhomes and Vingroup have been fully complying with the government’s policies and directives to prevent further contagion, prioritizing the health safety of the public including Vinhomes’ and Vingroup’s members of staff and at the same time, preparing various contingent business plans to adapt to the new circumstance. After the strict social distancing period ordered by the government starting from April 1st, 2020 to April 15th, 2020, all Vinhomes’ construction activities have resumed on April 16th, 2020 and all showrooms have reopened on April 23rd, 2020.
The Sapphire Parkville zone at Vinhomes Smart City was officially launched in 1Q2020. The first units at Sapphire 2 zone of Vinhomes Ocean Park were also delivered, while the sale of Sapphire by the Sea zone (Sapphire 1) started. New launches were also carried out at other Vinhomes-branded projects such as Vinhomes Symphony in Hanoi and Vinhomes Marina in Hai Phong.
In 1Q2020, Vinhomes also launched the “Buy Vinhomes – Get VinFast Voucher” promotion, marking the partnership of a unprecedented scale between the Vinhomes and VinFast brands. Especially, on April 9, 2020, the Company’s e-commerce platform – Vinhomes Online (https://online.vinhomes.vn) – was officially launched, which enables customers to make purchases remotely with unrivalled convenience, speed and pricing. On the first day of launch alone, the website attracted 32,000 visitors and 200 properties were transacted successfully.
In addition to Vinhomes Online, Vinhomes is also establishing Vinhomes TV, which will produce the marketing materials for Vinhomes projects, while offering the most accurate and detailed consultation via video to the customers. The channel is currently in pilot operation and set to be launched officially in May 2020.