VnExpress News The News Gateway of Vietnam
Vingroup’s revenue surged by 59% in 2023 to reach VND161 trillion ($6.59 billion), driven by property and electric car sales.
The conglomerate reported a pre-tax profit of VND13.68 trillion, a 7.2% rise, it said in a financial report.
The revenue from property sales nearly doubled to VND94.3 trillion, forming about 59% of the company’s total revenue.
Electric vehicle manufacturing, under the VinFast brand, contributed VND28.4 trillion, about 17.6% of the total revenue.
Last year, the company delivered 34,855 cars, making the total number of global deliveries 42,291 units since the first delivery in 2021.
In North America, a key market for VinFast, the company received partnership requests from 70 dealers and plans to start delivering the first VF 9 vehicles this year.
Vingroup’s shares were listed on the NASDAQ in August.
Vingroup’s property business, Vinhomes, primarily grew through its residential projects Vinhomes Ocean Park 2 and 3 in Hung Yen Province, adjacent to Hanoi. Vinhomes reported a post-tax profit of VND33.28 trillion, a 14% increase.
Vincom Retail, the company’s mall operation segment, recorded a revenue of VND9.79 trillion, up by 33%, and a post-tax profit of VND4.4 trillion, an increase of 59%. Currently managing 83 malls across 44 localities, Vincom Retail plans to construct six additional malls this year.
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