Vingroup Joint Stock Company · HOSE:VIC
Vingroup Joint Stock — Investor Presentation (May 2025)
45 slides from Vingroup Joint Stock's investor presentation, May 2025
Slide 1: Vingroup Corporate Presentation
Vingroup Corporate Presentation May 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 VinerouP USD 10.0 bilion Industrials - Technology? Real Estate Development Infrastructure Energy Social Enterprises and Services ~ {uso 92billion } 61.4% - 50.7% | ¥ Green Mobility | 73.5% |, tous Real Estate 10% |vinspeed_ Railway 19% Clean Energy | 100% |
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” v VINSCHOOL VINUNIVERSITY An incubator of talent and largest private K-12 education system in Vietnam! Auniversity of excellence - Developing talents for the future 54 ~49,000 ~4,300 The Youngest c.1,360 O04 Camp
Slide 10: Vingroup and The Founders’ Efforts “For a Better Life of People” (cont'd)
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+ 2,314 9 4 2 c.3.7 million Years of Total bed General hospitals! International clinics! Research centers! Numb
Slide 11: Vingroup and The Founders' Efforts “For a Better Life of People” (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: Public Investment Disbursements
• • • • Public Investment Disbursements (VND trn) % to annual budget plan 900 90% 720 75% 540 60% 360 45% 180 30% 0 15% 2020 2021 2022 2023 2024 2025T 2024 2030
Slide 17: 2.2 Unparalleled Execution Capabilities in New Business Sectors
2.2 Unparalleled Execution Capabilities in New Business Sectors
Slide 18: Outstanding Speed, Continuous Innovation and Always Target Exceptional Quality
2.2 UNPARALLELED EXECUTION CAPABILITIES IN NEW BUSINESS SECTORS 18 Outstanding Speed, Continuous Innovation and Always Target Exceptional Quality C FOUNDATION ) C ELECTRICFICATION ) C PURE-PLAY EV AND GLOBAL EXPANSION ) ® 300HA INTEGRATED MANUFACTURING COMPLEX ® 1ST and ONLY LARGE-SCALE E-BUS ® NASD
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: In-House Engineered Technology
In-House Engineered Technology – Innovative solutions developed by Vingroup’s expert engineers for smart and secure EVs °
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 RESIDENTIAE MARKET
Slide 22: Vinhomes - Premium Integrated Offerings of Apartments, Villas and Shophouses
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 32.3 billion sxsgee" DEVELOPED BY VINHOMES! Paracel Islands MARKET
Slide 23: Vinpearl - The 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 4 fa oe VINPEARL Gruman VinpearIGolf cy oe ® >16,100 Rooms 12 Parks 4 Courses . , 31 HOTELS! 1 ENTERTAIN MEST HGS a HORSE ACADEMY eo oe % In17
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 secleiisialle)) 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 Book hotel/ Entertainment services With 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 4 V wil MES ogee (Ms. Le Thi Thu Thuy Mr. Pham Thieu Hoa Chairwoman Chairman [ Ms. Nguyen Thu Hang Chief Executive Officer 23+ yrs experien
Slide 33: Macroeconomic Updates
CORPORATE PRESENTATION 3 Macroeconomic Updates V2
Slide 34: Average lending rate (lowest) Average Lending rate (highest) 1Q2024
10 8 6 4 Average lending rate (lowest) 2 Average Lending rate (highest) 1Q2024 1Q2025 1Q2024 1Q2025 VNM CHN IDN MYS PHL THA 1Q2021 1Q2022 1Q2023 1Q2024 1Q2025 0 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 600 ▲ 500 400 300 Total retail sales Retail sales of goods and services 200 Services 100 0 1Q2021
Slide 35: Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1
15 ▲ ▼ 12 9 6 3 - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2023 2024 2025 2023 2024 2025 8 ▲ 6 4 2 - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2023 2024 2025 2023 2024 2025
Slide 36: 4. Financial Highlights
Slide 37: Property revenue
2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 Property revenue Non-property revenue
Slide 38: Revenue by segment
2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 Property sales Industrials Hospitality & entertainment services Education Healthcare Leasing Others 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025
Slide 39: 7,000 5,000 3,000 1,000 (1,000) (3,000) (5,000) 2022 2023 24 1Q2024 1Q2025 2022 2023
7,000 5,000 3,000 1,000 (1,000) (3,000) (5,000) 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025 2022 2023 2024 1Q2024 1Q2025
Slide 40: Assets, equity and leverage
Property sale Industrials Hospitality & entertainment Leasing Dec-22 Dec-23 Dec-24 Mar-25 2022 2023 2024 LTM2025 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 LTM as of 31.3.2025 FY 31.12.2024 Change Leverage ratios Net debt!?/ EBITDA? 2.5x 2.3x +0.2x Net debt! / (Total assets - cash & ST investments”) 24.1% 20.1% +400Bps Coverage ratios Recurring revenue / Interest expense® 44x 4.2x +0.2x EBITDA
Slide 43: 5. 2025 Outlook
CORPORATE PRESENTATI 5. 2025 Outlook ls _ ur i) BP-ahe og te] iff. if
Slide 44: Outlook
CORPORATE PRESENTATION 2025 Outlook Targeted Consolidated Revenue VND 300,000 billion +59% vs 2024 Revenue Targeted Profit After Tax VND 10,000 billion +90% vs 2024 Profit after tax © Social Enterprises 4 whe + Key drivers in 2025 © Industrials and Technology - + Solidifying leadership position in V
Slide 45: 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
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