Vinhomes achieved sales of up to 51,710 billion VND in the first 6 months of the year - Photo: NGOC HIEN
On July 18, Vinhomes Joint Stock Company (stock code: VHM) announced its consolidated financial report for the first 6 months of 2024.
Vinhomes profits over 10,000 billion VND in the second quarter
Accordingly, Vinhomes' total consolidated net revenue in the first 6 months of the year reached VND 36,429 billion. Excluding revenue in the first quarter of 2024, the company achieved more than VND 28,200 billion in revenue in the second quarter of 2024. The company's consolidated profit after tax reached VND 11,513 billion, with the main contribution from recording large-lot sales transactions at the Vinhomes Royal Island project and continuing to hand over at ongoing real estate projects.
In the second quarter of 2024 alone, Vinhomes earned more than VND 10,608 billion in profit, an increase of nearly 10% over the same period last year.
With sales reaching VND 51,710 billion in the first 6 months of the year and unrecorded sales reaching VND 118,660 billion at the end of the second quarter of 2024, Vinhomes representatives said that they will complete the announced business plan for 2024 when key mega-projects such as Vinhomes Ocean Park 3, Vinhomes Royal Island... are handed over to customers.
As of June 30, 2024, Vinhomes has total assets and equity of VND 494,461 billion and VND 206,783 billion, up 11.2% and 13.2% respectively compared to December 31, 2023.
Meanwhile, the inventory of this real estate giant was recorded at over VND56,310 billion, a slight increase compared to the end of last year. Notably, Vinhomes' report also revealed that the company's long-term unfinished assets were recorded at over VND84,143 billion, of which Vinhomes poured nearly VND19,000 billion into the international university urban area, over VND13,500 billion into the Vinhomes Long Beach Can Gio project and over VND6,700 billion into a project in Thu Duc City.
Regarding payables, Vinhomes has payables of more than VND287,678 billion, an increase compared to the debt of nearly VND262,000 billion at the end of last year.
Issuing 12,500 billion VND in bonds
In the first half of 2024, Vinhomes successfully issued bonds with a total value of up to VND 12,500 billion. The company said this is a clear demonstration of its ability to access new capital sources as well as its ability to ensure resources for project development.
Vinhomes said that in the coming time, with favorable macroeconomic factors, three laws including the 2024 Land Law, the 2023 Housing Law, and the 2023 Real Estate Business Law, which will officially take effect from August 1, will help resolve most of the project's legal problems.
According to Vinhomes, with the efforts of the Government and localities, the real estate market is expected to have clear positive changes. This is also an important driving force for Vinhomes to continue introducing new projects and subdivisions.
Previously, at the annual shareholders' meeting, Mr. Pham Thieu Hoa - Chairman of the Board of Directors of Vinhomes - said that the bright spot for the real estate market this year is the 3 laws related to real estate passed by the National Assembly , which will help the market become more transparent and clear.
However, for these laws to have a positive impact on the market, he said it is necessary to wait for the implementing decrees to take effect.
This year, Vinhomes sets a target of 120,000 billion VND in revenue in 2024, and 35,000 billion VND in after-tax profit, up 16% and 4.5% respectively compared to 2023.
Source: https://tuoitre.vn/vinhomes-lai-rong-11-513-ti-dong-nang-tong-tai-san-len-gan-500-000-ti-dong-20240718212807878.htm
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