Vincom Retail Jsc · HOSE:VRE
Vincom Retail Jsc — Vincom Retail Joint Stock Company — Q2 2024 Earnings Presentation
20 slides from Vincom Retail Jsc's earnings presentation, Jul 22, 2024
Slide 1: 2Q2024 Quarterly Results
2Q2024 Quarterly Results 22 July 2024
Slide 2: Disclaimer
Disclaimer VINCOM RETAIL Quarterly Results 2Q2024 2 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 Vincom Retail Joint Stock C
Slide 3: 1H2024 Key Highlights
1H2024 Key Highlights GDP growth in 1H2024 FDI disbursement in 1H2024 +6.4% YoY USD 10.8 bn +8% YoY 01 Market Overview Total retail sales in 1H2024 Total revenue in 1H2024 +8.6% YoY VND 4,733 bn 2Q2024 Operational Driven mostly by Accomodation, +15% YoY 02 Update F&B and Tourism 1H2024 Net profit af
Slide 4: 01 Market Overview
4 VINCOM RETAIL 4 Quarterly Results 2Q2024 01 Market Overview Vincom Mega Mall Grand Park
Slide 5: Vietnam economy maintains strong upward trajectory in 1H2024
Vietnam economy maintains strong upward trajectory in 1H2024 VINCOM RETAIL Quarterly Results 2Q2024 5 though potential risks still looming Vietnam economy gallops in 1H24 and continues to CPI began to accelerate in 2Q24, yet remain under control Vietnam total retail sales in 1H24 continued to grow b
Slide 6: Limited retail leasing supply in CBD continued to push rent rate higher
Limited retail leasing supply in CBD continued to push rent rate higher VINCOM RETAIL Quarterly Results 2Q2024 6 Hanoi New Supply Ho Chi Minh City (HCMC) New Supply Unit: ‘000 sqm NLA Unit: ‘000 sqm NLA 200 Average HN new supply in the next 200 Average HCMC new supply in the next 5 years would be 44
Slide 7: Vietnam consumer confidence remains stagnant in 2024, while spending shifting towards necessities
Vietnam consumer confidence remains stagnant in 2024, while VINCOM RETAIL Quarterly Results 2Q2024 7 spending partern shifting towards necessities Vietnam consumer confidence has dropped since 2023 due to increasing inflation Per PwC survey2, Asia Pacific consumers anticipate spending more on necess
Slide 8: 02 2Q2024 Operational Update
8 VINCOM RETAIL 8 Quarterly Results 2Q2024 02 2Q2024 Operational Update Vincom Center Ba Trieu
Slide 9: Operational and Financial Metrics
Operational and Financial Metrics VINCOM RETAIL Quarrterly Results 2Q2024 9 Occupancy YoY QoQ Unit: VND billion 2Q2023 2Q2024 YoY 2Q2023 1Q2024 2Q2024 rate2 (pp3) (pp) GFA (‘000 sqm) 1,747 1,814 3.8% Vincom Center 95.3% 93.3% 93.0% 2.3 0.3 Leasing revenue 1,943 1,940 0.2% Vincom Mega Mall 90.3% 86.5
Slide 10: Grand opening of new Vincom Plaza shopping malls in June
Grand opening of 2 new Vincom Plaza shopping malls in June, VINCOM RETAIL Quarterly Results 2Q2024 10 solidifying VRE’s leading position in terms of scale and coverage Vincom Plaza Dien Bien Phu Vincom Plaza Ha Giang Opening June 28th Opening Date Date June 28th Location Dien Bien Phu Location Ha Gi
Slide 11: Soft-launched Vincom Mega Mall Grand Park in HCMC
Soft-launched Vincom Mega Mall Grand Park in HCMC, marking VINCOM RETAIL Quarterly Results 2Q2024 11 the 2nd mall of VRE following the Life-Design Mall concept VMM Grand Park – Case Study 1 Target Positioning The most modern shopping mall with diverse tenant mix catering to the shopping - dining - e
Slide 12: Soft-launched Vincom Mega Mall Grand Park in HCMC (continued)
Soft-launched Vincom Mega Mall Grand Park in HCMC, marking VINCOM RETAIL Quarterly Results 2Q2024 12 the 2nd mall of VRE following the Life-Design Mall concept (continued) VMM Grand Park – Case Study 1 Unique Interior Design 60,000 15,000 32,000 Footfalls on Soft Opening Day Average Footfalls Averag
Slide 13: Completed renovation and re-opened Vincom Plaza 3 Thang 2
Continued the asset enhancement initiatives, completed renovation VINCOM RETAIL Quarterly Results 2Q2024 13 and re-opened Vincom Plaza 3 Thang 2 on 26th June VCP 3/2 – Case Study 2 ... with significantly improved Mall repositioning... occupancy rate... Old Design Repositioned the mall and introduced
Slide 14: 03 Financial Update
VINCOM RETAIL 14 Quarterly Results 2Q2024 03 Financial Update Vincom Mega Mall Ocean Park
Slide 15: Financial Performance in 2Q2024
Financial Performance in 2Q2024 VINCOM RETAIL Quarterly Results 2Q2024 15 Total Revenue Gross Profit VND Billion VND billion Gross margin (%) 9,791 47.6% 45.9% 40.6% 51.8% 54.6% 9,259 54.7% 48.8% 8,329 7,361 223 215 172 1,772 5,891 5,346 2,027 116 381 4,404 2,149 3,821 3,817 186 805 32 1,004 735 2,3
Slide 16: Financial Performance in 2Q2024
Financial Performance in 2Q2024 VINCOM RETAIL Quarterly Results 2Q2024 16 Figures in VND billion 2Q2023 2Q2024 YoY Notes Revenue from Leasing of Investment Decreased slightly as newly leased area signed at the end of June had not 1,943 1,940 0.2% Properties and Rendering of Related Services contribu
Slide 17: Financial Performance in 1H2024
Financial Performance in 1H2024 VINCOM RETAIL Quarterly Results 2Q2024 17 Total Revenue Gross Profit VND Billion VND billion Gross margin (%) 9,791 47.6% 45.9% 40.6% 51.8% 54.6% 9,259 57.8% 52.1% 8,329 7,361 223 215 172 1,772 5,891 5,346 2,027 116 381 4,404 2,149 3,821 3,817 4,733 186 4,116 805 32 2
Slide 18: Financial Performance in 1H2024
Financial Performance in 1H2024 VINCOM RETAIL Quarterly Results 2Q2024 18 Figures in VND billion 1H2023 1H2024 YoY Notes Revenue from Leasing of Investment 3,857 3,867 0.3% Properties and Rendering of Related Services Handed over 149 shophouses in 1H2024 (including 148 units in Quang Tri Sale of Inv
Slide 19: Balance Sheet
Balance Sheet VINCOM RETAIL Quarterly Results 2Q2024 19 Total Assets Total Borrowings, Cash and Cash Equivalents VND Billion VND Billion 52,328 7,117 47,654 42,701 5,726 39,816 37,873 5,173 24,422 4,945 21,446 11,125 15,487 3,936 3,977 10,349 3,782 3,158 3,187 28,691 27,525 27,214 26,208 27,906 1,11
Slide 20: Investor Relations Department
VINCOM RETAIL 20 Quarterly Results 1Q2024 Investor Relations Department Vincom Retail JSC Symphony Office Tower, Chu Huy Man Street, Vinhomes Riverside Eco-Urban Area, Phuc Loi Ward, Long Bien District, Hanoi, Vietnam Tel:+84 (24) 3975 6699 ext. 5445 Website: https://ir.vincom.com.vn/en/ E-mail: ir@
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