Vingroup Joint Stock Company · HOSE:VIC
Vingroup Joint Stock — Vingroup — Investor Presentation (February 2025)
47 slides from Vingroup Joint Stock's investor presentation, February 2025
Slide 1: Vingroup Corporate Presentation
Vingroup Corporate Presentation February 2025
Slide 2: Important Notice
CORPORATE PRESENTATION Important Notice IMPORTANT: The information contained herein is preliminary and subject to change without notice, its accuracy is not guaranteed, has not been independently verified and may not contain all material information concerning Vingroup Joint Stock Company (the “Comp
Slide 3: Table of Contents
CORPORATE PRESENTATION Table of Contents About Vingroup Key Competitive Advantages Macroeconomic Update Financial Highlights 2025 Outlook VinFast Electric Vehicle ~ VF 7
Slide 4: 1. About Vingroup
Slide 5: • • • • • 17% 6% 5% 1% 8% • • • •
• • • • • 17% 6% 5% 1% 8% • • • • • • 53% • • • • •
Slide 6: Sovereign Wealth Funds, Strategic Partners & Joint Ventures, Private Equity
• • • • • • • 1993 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Sovereign Wealth Funds Strategic Partners & Joint Ventures Private Equity Other Investors / Capital
Slide 7: Corporate Structure
CORPORATE PRESENTATION Corporate Structure Industrials - Technology? 50.7% Mv Green Mobility Entities listed on HOSE Entity isted on NASDAQ VinerouP USD 63 billion? Real Estate Development and Services ri USD 65 billion’ TUE VinHomes Real Estate Development GG ee Hospitality and Entertainment {USD15
Slide 8: ● ● ● ● ● ● ● ● ● ● ● ● ● ●
● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●
Slide 9: Vingroup and The Founders' Efforts "For a Better Life of People"
CORPORATE PRESENTATION Vingroup and The Founders’ Efforts “For a Better Life of People” 8 VINSCHOOL An incubator of talent and largest private K-12 education system in Vietnam! 54 ~49,000 ~4,170 Campuses under operation in Students? Teachers® 5 provinces, municipalities? Largest education system in
Slide 10: Vingroup and The Founders' Efforts (cont'd): Vinmec
CORPORATE PRESENTATION Vingroup and The Founders' Efforts “For a Better Life of People” (cont'd) Vinmec - Centers Of Excellence With Specialized Infrastructure And High-quality Offerings 12+ 1,505 8 5 2 c.3.7 million Years of Total bed General hospitals! International clinics! Research centers! Numb
Slide 11: Vingroup and The Founders' Efforts (cont'd)
CORPORATE PRESENTATION Vingroup and The Founders' Efforts “For a Better Life of People” (cont'd) _f viNBUS ‘A modern, smart electric bus fleet equipped with essential technologies, safety features available for the first time in Vietnam. VinBus has presence in three cities with 302 buses’ and operat
Slide 12: 2. Key Competitive Advantages
CORPORATE PRESENTATION 2. Key Co Favorable Macro-Economics in Vietnam and Across All Consumer Industries Unparalleled Execution Capabilities in New Business Sectors Dominant Integrated Real Estate Developer, Owner and Operator Largest Ecosystem in Vietnam with Market Leadership Across Multiple Busin
Slide 13: 2.1 Favorable Macro Economics in Vietnam and Across All Consumer Industries
CORPORATE PRESENTATION 2.1 Favorable Macro Economics in Vietnam and Across All Consumer Industries
Slide 14: Philippines Singapore Philippines
Singapore Thailand Malaysia Indonesia Philippines Vietnam Singapore Malaysia Indonesia Thailand Philippines Vietnam Indonesia Singapore Malaysia Thailand Philippines Vietnam
Slide 15: 2025E 2026E 2027E 2028E 2029E 2030E 2025E 2026E
30.0 150.0 130.0 25.0 110.0 20.0 90.0 15.0 70.0 50.0 10.0 30.0 5.0 10.0 0.0 -10.0 2024 2025E 2026E 2027E 2028E 2029E 2030E 2024 2025E 2026E 2027E 2028E 2029E 2024 2025E 2026E 2027E 2028E 2029E Total tourist arrivals, million International tourism receipts, USD billion
Slide 16: MY SG PH
• • • 40 35 • 30 25 20 15 10 5 0 MY SG PH TH ID VN 2016 2017 2018 2019 2020 2021 2022 2023 2024
Slide 17: 2.2 Unparalleled Execution Capabilities in New Business Sectors
2.2 Unparalleled Execution Capabilities in New Business Sectors
Slide 18: Unparalleled Execution Capabilities in New Business Sectors
2.2 UNPARALLELED EXECUTION CAPABILITIES IN NEW BUSINESS SECTORS Outstanding Speed, Continuous Innovation and Always Target Exceptional Quality C FOUNDATION ) C ELECTRICFICATION ) C PURE-PLAY EV AND GLOBAL EXPANSION ) ® 300HA INTEGRATED MANUFACTURING COMPLEX @ 18' and ONLY LARGE-SCALE E-BUS ® NASDAS
Slide 19: Highly-Automated and Integrated Manufacturing Facilities
2.2 UNPARALLELED EXECUTION CAPABILITIES IN NEW BUSINESS SECTORS 9 Highly-Automated and Integrated Manufacturing Facilities On-site Integrated Supplier Park System in Vietnam Helps Lower Sourcing and Inventory Costs of Key Components Local Sourcing Select On-site Global Tier 1 Partners Key Benefits C
Slide 20: Combining the Best of In-house and External Partners' Technologies
2.2 UNPARALLELED EXECUTION CAPABILITIES IN NEW BUSINESS SECTORS Combining the Best of In-house and External Partners’ Technologies Development Capabilities Strengthened by Shared Expertise of Vingroup and Global Partners ‘Source: Company information ‘VineRouPr Technology Ecosystem i) 2 Professionals
Slide 21: 2.3 Dominant Integrated Real Estate Developer, Owner, and Operator
2.3 Dominant Integrated Real Estate Developer, Owner, and Operator THE 1,200-HA “OCEAN DISTRICT” OF HANOI'S EASTERN RESIDENTIAL MARKET
Slide 22: Vinhomes - Premium Integrated Offerings
2.3 DOMINANT INTEGRATED REAL ESTATE DEVELOPERS, OWNER, AND OPERATOR 2 Vinhomes - Premium Integrated Offerings of Apartments, Villas and Shophouses with Market Leading in all Segments that Vinhomes Has Products to Offer S0iieaeers USD 32.1 billion segs" DEVELOPED BY VINHOMES! Paracel Islands MARKET C
Slide 23: Vinpearl - Leading Integrated Hospitality Platform
2.3 DOMINANT INTEGRATED REAL ESTATE DEVELOPERS, OWNER, AND OPERATOR 23 Vinpearl - The Leading Integrated Hospitality Platform with Premium Resorts & Hotels 4 snort Quanta VinpearIGolf 11,555 Rooms 12 Parks 4 Courses 31 HOTELS! THERESE MGT ABER, eo oe In17 cities In 8 cities 1.9MM 6.9MM 216 thsd ANNU
Slide 24: Vincom Retail - Dominant Retail Mall Player
2.3 DOMINANT INTEGRATED REAL ESTATE DEVELOPERS, OWNER, AND OPERATOR 24 Vincom Retail - Dominant Retail Mall Player with Best-In-Class Locations Nationwide All-in-one Multi - Format Retail Malls DESTRATICN Geen pmeemmaameal VINCOM CENTER (15% of total GFA) VINCOM MEGA MALL (31% of total GFA) out of 4
Slide 25: 2.4 Largest Ecosystem in Vietnam with Market Leadership
CORPORATE PRESENTATION 2. 4 Largest Ecosystem in Vietnam with Market scleicuoalls) | Across Multiple Businesses Fe
Slide 26: Largest Ecosystem in Vietnam With Market Leadership Across Multiple Businesses
2.4 LARGEST ECOSYSTEM IN VIETNAM WITH MARKET LEADERSHIP ACROSS MULTIPLE BUSINESSES 26 TIAM Largest Ecosystem in Vietnam With Book hotel/ Entertainment services Market Leadership Across Multiple Businesses + The only company in Vietnam with extensive presence across the consumer ecosystem = 1PM 9AM H
Slide 27: Leveraging Data Analytics for Deep Behavioral Understanding
2.4 LARGEST ECOSYSTEM IN VIETNAM WITH MARKET LEADERSHIP ACROSS MULTIPLE BUSINESSES ea Leveraging Data Analytics for Deep Behavioral Understanding and Continual Improvement of Platform Offerings ‘yf Vinsiopata =VinNi Data Analytics CONSUMER DATA CONSUMER PREFERENCES Personalized Services & Products °
Slide 28: 2.5 Prudent Financial Policies And Strong Financial Position
2.5 Prudent Financial Policies And Strong Financial Position
Slide 29: Prudent Financial Policies and Strong Financial Position
2.8 PRUDENT FINANCIAL POLICIES AND STRONG FINANCIAL POSITION 29 Prudent Financial Policies and Strong Financial Position Liquidity * Minimum cash balance! of USD 700 million or above to avoid liquidity risk. management * Only Vietnamese issuer with access to multiple sources of capital, including do
Slide 30: Global Reputation and Good Execution Helped Attract Top-Tier International Investors
Global Reputation and Good Execution Helped Attract Top-Tier International Investors Sovereign Wealth Funds Equity Capital Markets Banking Public Partners Markets Strategic Partners & Joint Ventures Convertible / Exchangeable Bond Markets Private Internal International Debt Capital Markets Private E
Slide 31: • • • • • • • • • • • • • •
• • • • • • • • • • • • • • • • • • • • • • • • • • • • •
Slide 32: Committed to International Corporate Standards
2.8 PRUDENT FINANCIAL POLICIES AND STRONG FINANCIAL POSITION Committed to International Corporate Standards Seasoned Management Teams for Every Business Segment e Thi Thu Thuy i Chairwoman 23+ yrs experience 15+ yrs with Vingroup. ‘Wy Vineiepata Prof. Van Ha Vu Scientifi Director AWA Percey F. Smith
Slide 33: Macroeconomic Updates
CORPORATE PRESENTATION 3 Macroeconomic Updates V2
Slide 34: Vietnam Macroeconomic Indicators
Manufacturing Real Estate Wholesale & Retail Industry Science & Technology Investments Other sectors VNM CHN IDN MYS PHL THA 2020 2021 2022 2023 2024 4Q2023 4Q2024 FY2023 FY2024 4Q2023 4Q2024 FY2023 FY2024 Public Investment Disbursements (VND trn) % to annual budget plan 16 900 90% 13 720 75% 10 202
Slide 35: Banking, Real Estate, Securities
15 160 ▲ ▼ ▲ 12 120 9 80 6 3 40 - - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2024 2022 2023 2024 2022 2023 2024 Banking 8 ▲ ▲ 6 Real Estate 4 Securities 2 Industrials - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 36: 4. Financial Highlights
Slide 37: Recurring revenue and Property sales
2021 2022 2023 2024 2021 2022 2023 2024 2021 2022 2023 2024 2021 2022 2023 2024 Recurring revenue Property sales
Slide 38: Revenue by segment
2021 2022 2023 2024 2021 2022 2023 2024 2021 2022 2023 2024 Property sales Industrials Hospitality & entertainment services Education Healthcare Leasing Others 2021 2022 2023 2024 2021 2022 2023 2024
Slide 39: Profit and cash flow
7,000 5,000 3,000 1,000 (1,000) (3,000) (5,000) 2021 2022 2023 2024 2021 2022 2023 2024 2021 2022 2023 2024 900 700 500 300 100 (100) (300) 2021 2022 2023 2024 2021 2022 2023 2024
Slide 40: Assets, equity and leverage
Property sale Industrials Hospitality & entertainment Leasing Dec-21 Dec-22 Dec-23 Dec-24 2021 2022 2023 2024 Healthcare & education Others Total Debt / EBITDA Net Debt / EBITDA Total assets Total equity
Slide 41: Debt composition and maturity
Bank borrowings and others Syndicated loan & Int'l bond Domestic bond Revolving bank loan Less than 1 year 1-3 years 3-5 years More than 5 years
Slide 42: Leverage, Coverage and Other Ratios
CORPORATE PRESENTATION Leverage, Coverage and Other Ratios FY2024 LTM as of 30.9.2024 Change Leverage ratios Net debt!?/ EBITDA? 2.4x 2.9x -0.5x Net debt! / (Total assets - cash & ST investments”) 20.3% 22.9% -260 Bps Coverage ratios Recurring revenue / Interest expense® 4.3x 3.9x +0.4x EBITDA / Int
Slide 43: 5. 2025 Outlook
CORPORATE PRESENTATI 5. 2025 Outlook ls _ ur i) BP-ahe og te] iff. if
Slide 44: 2025 Outlook (1)
CORPORATE PRESENTATION 44 2025 Outlook (1) Continue strong momentum, targeting to each specific markets: * Vietnam: * Asian Markets: Y Leading Vietnam's EV market driving on the strong trend Y Targeting Indonesia, the Philippines, and India in 2025, from 2W to 4W and from ICE to EV, having already l
Slide 45: 2025 Outlook (2)
CORPORATE PRESENTATION 45 2025 Outlook (2) * Substantial backlog of unbilled sales of VND 94.2 trillion as of 2024- + +Vinpearl aims to sustain double-digit revenue growth and lead end provides a strong foundation for future earnings. Vietnam’s entertainment and resort industry through: + Presales m
Slide 46: Outlook (3)
CORPORATE PRESENTATION 2025 Outlook (3) Social Enterprises Expand the network organically and through partnerships using the hub-and- spoke model, where Vinmec hospitals serve as hubs, while internal clinics, as well as external private hospitals and clinics, act as spokes. Implement a variety of ne
Slide 47: Company Information
Company Information Vingroup Joint Stock Company (referred to as “Vingroup” or "the Group”) is one of the largest listed companies in Vietnam as measured by market capitalization. Vingroup today bases its strategy on the principles of sustainability and professional management to operate in three ma