Vingroup announced its consolidated revenue of nearly $4 billion

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

TheLEADERThe 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.

Vingroup announced its consolidated revenue of nearly $4 billion
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 ....