1
VINGROUP ANNOUNCES SECOND-QUARTER 2015 FINANCIAL RESULTS Hanoi, 14 August 2015 - Vingroup Joint Stock Company (HOSE: VIC) today announced its Second Quarter 2015 VAS consolidated financial results. For the second quarter of 2015, Vingroup recorded consolidated net revenue of VND6.0 trillion, gross profit of VND2.1 trillion, and profit before tax of VND572 billion. For the first half of 2015, the Group’s consolidated net revenue reached VND12.4 trillion, gross profit was VND4.4 trillion, and profit before tax registered VND1.3 trillion. Compared to the same quarter last year, net revenue from sales of properties declined as the group only recognized revenues from handover of the remaining apartments in Vinhomes Times City and Vinhomes Royal City. New projects such as Park Hill (Vinhomes Times City Phase 2) and Vinhomes Central Park have received large amounts of cash from presales, but revenues will only be recognized in subsequent periods. In addition to revenue growth from established business segments such as Vincom Retail (7%), Vinpearl (34 %) in the second quarter, new businesses like Vinschool recorded revenue of VND93 billion, a YOY increase of 289%, while the consumer retail segment that includes VinMart and VinPro registered revenue of VND796 billion, accounting for 13% of the Group’s total revenue. As at 30 June 2015, Vingroup’s total assets were VND110.5 trillion, an increase of VND20.6 trillion, and owners’ equity was VND30.5 trillion, an increase of VND3.3 trillion compared to 31 December 2014. In June 2015, Warburg Pincus, a leading global private equity firm focused on growth investing, completed a follow-on minority investment of approximately $100 million in Vincom Retail, a subsidiary of Vingroup and Vietnam’s largest owner and operator of shopping malls. The follow-on investment brings the total investment to date by the Warburg Pincus consortium to $300 million, making it one of the largest investments by a private equity firm ever in Vietnam. The follow-on investment by the Warburg Pincus Consortium is a vote of confidence from our investors in our strong performance to date, and our long-term vision for both Vincom Retail and Vietnam From June to August 2015, Vingroup launched a number of new projects, including Vincom Ngo Quyen Da Nang, Vincom Hung Vuong Can Tho and Vinmec Phu Quoc International Hospital. The Group also broke the ground for two highly promising projects, an eco-urban development on Vu Yen Island in Hai Phong and the Vincom Ha Tinh mixed-used project. These series of accomplishments underline the continued development of Vingroup’s nationwide ecosystem of complementary high-end products, furthering our mission “To create a better life for the Vietnamese people.

Vingroup 150818 Earning Release Q2 2015 En

Embed Size (px)

DESCRIPTION

Vingroup 15Q2 earning

Citation preview

Page 1: Vingroup 150818 Earning Release Q2 2015 En

VINGROUP ANNOUNCES SECOND-QUARTER 2015 FINANCIAL RESULTS

Hanoi, 14 August 2015 - Vingroup Joint Stock Company (HOSE: VIC) today announced its

Second Quarter 2015 VAS consolidated financial results.

For the second quarter of 2015, Vingroup recorded consolidated net revenue of VND6.0 trillion, gross

profit of VND2.1 trillion, and profit before tax of VND572 billion. For the first half of 2015, the

Group’s consolidated net revenue reached VND12.4 trillion, gross profit was VND4.4 trillion, and

profit before tax registered VND1.3 trillion.

Compared to the same quarter last year, net revenue from sales of properties declined as the group

only recognized revenues from handover of the remaining apartments in Vinhomes Times City and

Vinhomes Royal City. New projects such as Park Hill (Vinhomes Times City – Phase 2) and

Vinhomes Central Park have received large amounts of cash from presales, but revenues will only be

recognized in subsequent periods. In addition to revenue growth from established business segments

such as Vincom Retail (7%), Vinpearl (34 %) in the second quarter, new businesses like Vinschool

recorded revenue of VND93 billion, a YOY increase of 289%, while the consumer retail segment that

includes VinMart and VinPro registered revenue of VND796 billion, accounting for 13% of the

Group’s total revenue.

As at 30 June 2015, Vingroup’s total assets were VND110.5 trillion, an increase of VND20.6 trillion,

and owners’ equity was VND30.5 trillion, an increase of VND3.3 trillion compared to 31 December

2014.

In June 2015, Warburg Pincus, a leading global private equity firm focused on growth investing,

completed a follow-on minority investment of approximately $100 million in Vincom Retail, a

subsidiary of Vingroup and Vietnam’s largest owner and operator of shopping malls. The follow-on

investment brings the total investment to date by the Warburg Pincus consortium to $300 million,

making it one of the largest investments by a private equity firm ever in Vietnam. The follow-on

investment by the Warburg Pincus Consortium is a vote of confidence from our investors in our

strong performance to date, and our long-term vision for both Vincom Retail and Vietnam

From June to August 2015, Vingroup launched a number of new projects, including Vincom Ngo

Quyen – Da Nang, Vincom Hung Vuong – Can Tho and Vinmec Phu Quoc International Hospital.

The Group also broke the ground for two highly promising projects, an eco-urban development on Vu

Yen Island in Hai Phong and the Vincom Ha Tinh mixed-used project. These series of

accomplishments underline the continued development of Vingroup’s nationwide ecosystem of

complementary high-end products, furthering our mission “To create a better life for the Vietnamese

people.”