Vingroup’s net revenue increases 52% in 1Q2021

Saigon Investment
(Saigon Investment) - Vingroup Joint Stock Company released its unaudited consolidated Financial Statements of the first quarter of 2021 (1Q2021) prepared in accordance with Vietnamese Accounting Standards (VAS). 

Ảnh minh họa.

Ảnh minh họa.

In 1Q2021, Vingroup’s consolidated net revenue was VND 23.294 trillion, a strong increase of 52% YoY, mainly due to delivery and revenue recognition at the three Vinhomes mega projects namely Vinhomes Ocean Park, Smart City and Grand Park, and robust growth in sales of VinFast and VinSmart.

Profit after tax was VND 868 billion in 1Q2021, an increase of 72% YoY.

As of March 31, 2021, total assets were VND 419.833 trillion, which did not change compared with the end of 2020, and owners’ equity was VND 139.744 trillion, an increase of 3% compared to the end of 2020. 

Revenue from sales of inventory properties was VND 10.656 trillion in Q1 2021, an increase of 55% YoY, thanks to an increase in delivery of residential units at Vinhomes’ mega projects. 

Revenue from leasing of investment properties was VND 1.885 trillion in Q1 2021, an increase of 5% YoY.

Revenue from hospitality and entertainment was VND 933 billion in Q1 2021, a decrease of 48% YoY due to continuing impacts of the Covid-19 pandemic including social distancing and restrictions on international visitors to Vietnam.

Revenue from manufacturing was VND 4.814 trillion in 1Q2021, an increase of 48% YoY thanks to positive consumer reception for VinFast and VSmart products. 


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