Vingroup earns $1.5bn in revenue in 2015

Tuesday, Feb 16, 2016 16:02

Vingroup develops a system of Vincom centres across Viet Nam. — Photo
HA NOI (Biz Hub) — Real estate developer Vingroup (VIC) earned VND33.8 trillion (US$1.5 billion) in sales and VND1.419 trillion ($63.3 million) in after-tax profits in 2015.

According to the Q4 financial statement, the consolidated revenue of the group reached VND14.36 trillion ($641.3 million), up 134 per cent compared to the same period last year. In particular, revenues from real estate transfers reached VND10.18 trillion ($454.6 million), a 131 per cent year-on-year increase.

According to the group, the revenue from leasing of retail offices reached VND695 billion ($31million), up 31 per cent, while revenues from hotel, tourism and entertainment touched VND546 billion ($24.3 million), up 21 per cent, and revenues from hospital operations reached VND247 billion ($11 million), up 60 per cent.

With the expansion of supermarkets and convenient stores of Vinmart and Vinmart +, the sales revenue from retail operations in the quarter reached VND1.65 trillion ($73.6 million), more than four times the amount during the same period last year.

In Q4, the group earned VND421 billion ($18.7 million) in after-tax profits, up 27 per cent year-on-year.

Thus, for the whole of 2015, Vingroup's consolidated turnover was VND33.8 trillion (US$1.5 billion), up 23 per cent compared with 2014, with after-tax profits of VND1.419 trillion ($63.3 million).

As of the end of 2015, the group has total assets worth VND146 trillion ($6.5 billion), an increase of 38 per cent, and equity worth VND37.4 trillion ($1.67 billion), an increase of 26 per cent, compared to December 31, 2014.

Recently, the group asked the central Ha Tinh Province to invest in a 10ha hotel and resort complex on Thach Bang Beach in Loc Ha District. The beach is located about 15km northeast from Ha Tinh City. The province is considering the group's request, according to local media.

Vingroup started the construction of the 60,000sq.m Vincom complex in the heart of Ha Tinh Ha Tinh City last year, to build a five-star hotel that will have 36 floors, 300 rooms, a Vincom centre and 115 detached villas, townhouses and houses.

On February 16, each VIC share ended at VND45,900 ($2.0) on the HCM Stock Exchange. — VNS

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