Vinhomes Joint Stock Company · HOSE:VHM
Vinhomes Joint Stock — Q1 2024 Earnings Presentation
30 slides from Vinhomes Joint Stock's earnings presentation, Apr 13, 2024
Slide 1: 1Q2024 Earnings Presentation
VINHOMES JOINT STOCK COMPANY 1 1Q2024 Earnings Presentation July 2023 Vinhomes Ocean Park, Hanoi
Slide 2: Disclaimer
VINHOMES JOINT STOCK COMPANY 2 Disclaimer 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 Vinhomes Joint Stock Company (the “Co
Slide 3: Table of Contents
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 3 CONTENTS TABLE OF CONTENTS 1Q2024 Macro Update 1Q2024 & Market Trend Financial Highlights 01 03 05 02 04 Key Messages & 1Q2024 Company 1Q2024 Snapshot Business Update Outlook
Slide 4: Key Messages
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 4 Key Messages Vietnam's 1Q2024 GDP growth Inflation contained with 1Q2024 CPI Government has implemented 1 2 +5.66% YoY +3.77% YoY Strategic measures and policies Highest 1Q growth rate since 2020 Well managed under NA target of 4.5% Facilit
Slide 5: 1Q2024 Snapshot
VINHOMES JOINT STOCK COMPANY 5 1Q2024 Snapshot 1. Lower performance is attributed to timing of revenue recognition 1Q2023 1Q2024 1Q2023 YoY (%) Net Revenue VND VND29.3 8.2 trillion trillion VND 29.3 trillion 72% Adjusted Total Revenue(1) VND VND40.6 8.6 trillion trillion VND 42.5 trillion 80% Total
Slide 6: Pre-sales to be Supported by Newly Launched Projects
VINHOMES JOINT STOCK COMPANY 6 Pre-sales to be Supported by Newly Launched Projects Contracted Sales(1) Unbilled Bookings(2) 180 VND trillion VND trillion OCP 2 launched Vu Yen launched 180 in Late March VND trillion VND trillion OCP 2 & 3 launched 160 Retail sales volumes impacted by social 160 OCP
Slide 7: Forecasted FY2024 Revenue
VINHOMES JOINT STOCK COMPANY 7 Forecasted FY2024 Revenue Annual target VND 120 • Revenue from unbilled bookings is trillion primarily generated from Vinhomes Royal Island, Vinhomes Ocean Park 1, 150,000 2, 3, Vinhomes Smart City and Vinhomes Grand Park. • New sales include anticipated new 100,000 re
Slide 8: 1Q2024 Macro Update & Market Trend
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 8 1Q2024 Macro Update & Market Trend Vinhomes Ocean Park, Hanoi
Slide 9: Brighter Outlook with Resilient 1Q2024 Growth
VINHOMES JOINT STOCK COMPANY 9 Brighter Outlook with Resilient 1Q2024 Growth Sustained GDP growth amid global uncertainties Policy rate maintained at low level Accommodative policies to facilitate business capital access and development Inter - Bank Interest Rate, VNIBOR VND (%) Real GDP growth(1) (
Slide 10: Hanoi – Optimistic Absorption Rate with Supply Gradually Increasing
VINHOMES JOINT STOCK COMPANY 10 Hanoi – Optimistic Absorption Rate with Supply Gradually Increasing Condominium: Supply remained limited, yet grew towards the quarter's end Landed property: Modest launches resulted in sold units decrease Units Units 2,342 2,038 Supply surged due to launches of 2 293
Slide 11: HCMC – First Quarter Sales Affected by Limited Supply
VINHOMES JOINT STOCK COMPANY 11 HCMC – First Quarter Sales Affected by Limited Supply Condominium: Record low quarter supply in 15 years Landed property: Remained modest due to limited supply in 1Q2024 Units Units 20,000 495 605 7 units sold 1Q2024 units launched units sold ▼ 84% YoY ▼ 83% YoY ▼ 37%
Slide 12: 1Q2024 Business Updates
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 12 1Q2024 Business Updates
Slide 13: Vinhomes Royal Island Unveiled as Haiphong's First Island Urban Development
VINHOMES JOINT STOCK COMPANY 13 1. Vinhomes Royal Island Unveiled as Haiphong’s First Island Urban Development 15 March 2024 877 ha 12,000 visitors c.1,800 82% Launch date Scale Within one month of its launch Bookings Take-up rate Vinhomes Royal Island Source: Company information. Hai Phong City
Slide 14: Vinhomes Royal Island – Distinguished residential space for local and global elites
VINHOMES JOINT STOCK COMPANY 14 1. Vinhomes Royal Island – Distinguished residential space for local and global elites Location • Convenient access to the northern economic triangle and major global cities via air, water, and road networks Components • Villas / Townhouses / Shophouses / Commercial S
Slide 15: Dynamic Community Events and Sales Activities in Early 2024
VINHOMES JOINT STOCK COMPANY 15 2. Dynamic Community Events and Sales Activities in Early 2024 Ocean City's Spring Fair 2024 achieved Vietnamese record Customer appreciation day at Vinhomes Royal Island • On January 26, 2024, the two-week • The "Appreciation" event, held on March 2024 Spring Fair, t
Slide 16: Awards and Accolades
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 16 3. Awards and Accolades Top 10 real estate developers in Vietnam in 2023 VINHOMES Top 10 most potential urban Top 5 urban and residential and residential projects projects of highest quality VINHOMES GOLDEN AVENUE OCEAN CITY In March, the
Slide 17: Updates on Selected Pipelines to be Launched in 2024
VINHOMES JOINT STOCK COMPANY 17 4. Updates on Selected Pipelines to be Launched in 2024 Vinhomes Co Loa • Large-scale mixed-use integrated Description residential and commercial project Vinhomes Co Loa is a unique project with a combination of a lively suburban community with an exhibition complex L
Slide 18: 1Q2024 Financial Highlights
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 18 1Q2024 Financial Highlights Vinhomes Smart City, Hanoi
Slide 19: 1Q2024 Highlights
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 19 VINHOMES JOINT STOCK COMPANY 1Q2024 Highlights Vinhomes Projects BCC Projects(2) (Equity Accounting) 1. Revenue from Sale of Inventory • Total: VND 4.1 trillion • Total: VND 0.4 trillion Properties(1) • Key contributors: • Key contributors
Slide 20: Financial Performance 1Q2024 vs. 1Q2023
VINHOMES JOINT STOCK COMPANY 20 Financial Performance 1Q2024 vs. 1Q2023 Figures in VND billion 1Q2024 1Q2023 Change Key Commentary • Lower recognition was due to lower deliveries of sold units in Vinhomes Ocean Park 1, 2, (1) Smart City and Grand Park; Sale of Inventory Properties 4,085 27,004 -85%
Slide 21: Financial Performance 1Q2024 (Vinhomes Projects & BCC Projects)
VINHOMES JOINT STOCK COMPANY 21 Financial Performance 1Q2024 (Vinhomes Projects & BCC Projects) Summary BCC Project Performance and Reconciliation Star City Figures in VND billion Total BCC Projects (Thanh Hoa, low-rise) Revenue 394 394 Cost of Sales -142 -142 Gross Profit 253 253 % Margin 64% 64% S
Slide 22: 1Q2024 Financial Performance Overview
VINHOMES JOINT STOCK COMPANY 22 1Q2024 Financial Performance Overview Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 52.2% 47.2% 55.1% 37.7% 67.0% 46.5% 13% 37.3% 64.2% 55.6% 59.4% 22.9% 28.5% 120,000 CAGR 2020-2023 103,557 100,000 84,986 12,687 11% 10,635 1,201 CAGR 2020
Slide 23: 1Q2024 Financial Performance Incorporating BCCs and Bulk Sales
VINHOMES JOINT STOCK COMPANY 23 1Q2024 Financial Performance Incorporating BCCs and Bulk Sales Total Revenue Gross Profit and Gross Profit Margin VND billion VND billion 52.2% 47.2% 55.1% 47.6% 67.0% 46.5% 7% 45.6% 64.7% 60.0% 43.6% 39.4% 31.5% CAGR 2020-2023 121,357 12,687 80,000 4% 120,000 CAGR 20
Slide 24: Balance Sheet Overview
VINHOMES JOINT STOCK COMPANY 24 Balance Sheet Overview Total Assets Inventories VND billion VND billion 464,485 0,000 444,631 70,000 64,362 58,756 0,000 361,813 60,000 55,318 209,189 202,290 0,000 50,000 42,984 215,326 230,516 165,277 40,000 0,000 28,579 30,000 0,000 113,014 136,079 242,341 255,296
Slide 25: Key Credit Metrics
VINHOMES JOINT STOCK COMPANY 25 Key Credit Metrics Net Debt (1) / (Total Assets – Cash & Cash Equivalent (2)) Net Debt(1) / Equity % % 15% 30% 25.9% 11.2% 25% 21.2% 10% 9.1% 20% 15% 12.5% 5.4% 10.3% 4.6% 4.7% 5% 10% 7.8% 5% 0% 0% 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 31-Mar-24 31-Dec-20 31-Dec-21
Slide 26: Strong balance sheet and robust liquidity position
VINHOMES JOINT STOCK COMPANY 26 1Q24 Debt profile Strong balance sheet and robust liquidity position Balanced debt mix (1) Diversified Debt Structure USD Average cost of debt Average debt maturity Domestic bond 17% 10.59% 1.5 years 30.3% VND 63.9 VND 63.9 trillion trillion Bank loans TTM Interest Co
Slide 27: Outlook for 2024
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 27 Outlook for 2024 • As of March 2024, a significant backlog of unbilled bookings amounting to VND 111.8 trillion lays a solid foundation for future earnings, 1 showcasing resilience amid persistent market challenges Robust financial backlog
Slide 28: Appendix Additional Materials
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 28 Appendix Additional Materials Vinhomes Central Park, HCMC
Slide 29: Social Housing Projects Scheduled for Launch under Happy Home Brand
VINHOMES JOINT STOCK COMPANY 29 Social Housing Projects Scheduled for Launch under Happy Home Brand Social Housing in Nam Trang Cat • Deliver the dream of home ownership for millions of low-income people Location • Trang Cat Ward, Hai An District, Hai Phong • Create modern urban developments, and im
Slide 30: Investor Relations Department
VINHOMES JOINT VINHOMES STOCK JOINT COMPANY STOCK COMPANY 30 Investor Relations Department Vinhomes Joint Stock Company Symphony Office Tower, Chu Huy Man Street, Vinhomes Riverside Eco- Urban Area, Phuc Loi Ward, Long Bien District, Hanoi, Vietnam Tel: +84 (24) 3975 5899 ext. 3982 Website: https://
Vinhomes Joint Stock Company — Q1 2024 Earnings Presentation on 6ix