Business

Vingroup announced its consolidated revenue of nearly $4 billion

By Hai Linh April 12, 2018 | 08:24 AM GMT+7

The consolidated financial report for 2017 just released by Vingroup recorded total consolidated revenue of VND89,350 billion in 2017, equivalent to $3.92 billion, up 55.1 per cent compared to 2016.

The group’s revenue increased by 67.5 per cent over the previous year.

In 2017, Vingroup’s pre-tax profit reached VND 9,114 billion ($400 million) and after-tax profit reached VND 5,655 billion ($248 million), up 35.3 per cent and 26.8 per cent respectively compared to 2016.

The group’s revenue of real estate transfer in 2017 was estimated at VND62,482 billion ($2.74 billion), an increase of 67.5 per cent over the previous year thanks to the large projects such as Times City Park Hill, Vinhomes Gardenia, Vinhomes Central Park, Vinhomes Riverside. - The Harmony, Vinpearl Resort Phu Quoc, Vinpearl Nha Trang which have been completed and handed over to customers.

Revenue obtained from hotel, resort and recreation services was VND5,455 billion ($239 million), up 28.2 per cent compared to 2016.

In 2017, revenue of retail sectors including leasing activities, education and health maintained a good growth rate over the previous year with an increase from 32.7 per cent to 69.5 per cent.

As of December 31, 2017, Vingroup's total assets reached VND213,792 billion ($9.4 billion), an increase of 16.5 per cent year on year; equity was VND52,557 billion ($2.3 billion).

In the fourth quarter of 2017, Vingroup's business lines continued to grow strongly and gained a high level of trust in the market.

On November 6, 2017, Vincom Retail - a member of Vingroup, which specializes in developing and operating Vincom trade centers nationwide, was listed on the Ho Chi Minh Stock Exchange (HOSE) with the stock code of VRE. Vincom Retail was the 427th member on HOSE and immediately became one of the largest listed companies in the market.

On December 05, 2017, Vingroup topped the list of Vietnam's 500 largest private enterprises in 2017 published by Vietnam Report. Previously, on December 04, four brand members of Vingroup including Vinhomes, Vincommerce, Vinpearl and Vincom Retail were also named in the Top 50 Most Valuable Vietnamese Brands in 2017 valued by Brand Finance.

In the first quarter of 2018, VinFast signed many cooperation agreements with big firms in the automobile industry such as Pininfarina, BMW, Magna Steyr, AVL, Durr AG, Schuler AG and Eisenmann and expected to launch its first products by the end of 2019.

In March 2018, Vingroup officially entered the higher education field with the plan to establish VinUni, with the mission of training human resources that are elite, qualified, skilled, experienced and aspired to contribute to the prosperity of the society and global knowledge-based economy.

With the dedication to making a good life for the Vietnamese, Vingroup sets a target that VinUni will be named in the world’s best universities and ranked by the prestigious agencies like Quacquarelli Symonds, Times Higher Education ....

US giant backs Vietnam’s bid to lead ASEAN gas trade

US giant backs Vietnam’s bid to lead ASEAN gas trade

Business -  1 week

With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.

Frasers Property, SPX Express sign deal for largest sorting centre in Southeast Asia

Frasers Property, SPX Express sign deal for largest sorting centre in Southeast Asia

Business -  2 week

Scheduled for completion in 2027, the logistics facility will be the first of its kind in Vietnam significantly boosting parcel processing capacity up to 7 million parcels daily.

Gamuda Land secures VND3,750 billion loan for Eaton Park project

Gamuda Land secures VND3,750 billion loan for Eaton Park project

Business -  3 week

Gamuda Land will use the loan to invest in a luxury real estate project in Ho Chi Minh City.

WHA Group accelerates industrial park investment in Vietnam amid tariff tensions

WHA Group accelerates industrial park investment in Vietnam amid tariff tensions

Business -  4 week

Amid global economic volatility, WHA Group has rapidly rolled out multiple expansion projects in Vietnam, signaling its strategic focus on the country.

Hai Phong Port unveils new deep-water terminals to meet growing trade demand

Hai Phong Port unveils new deep-water terminals to meet growing trade demand

Business -  1 month

Hai Phong Port JSC. has inaugurated international container terminals No. 3 and 4 at Lach Huyen, raising its throughput capacity to 3.5 million TEUs per year.

Hoang Huy Group to raise $79 million for Haiphong property projects

Hoang Huy Group to raise $79 million for Haiphong property projects

Business -  1 month

Hoang Huy expects revenue to exceed VND4 trillion and post-tax profit to reach up to VND2 trillion in fiscal year 2025-2026, targeting annual growth of over 30% for the next five years.