No Va Real Estate Investment Group Joint Stock Company (HoSE: NVL; Novaland ) has just announced its business results for the second quarter of 2025 with net revenue increasing by 21% over the same period, reaching VND 1,936 billion.
Notably, financial expenses decreased by VND 1,228 billion and other income increased by VND 257 billion; cost of goods sold and other expenses decreased by VND 4,370 billion due to the previous period's provision for land rent, land use fees and late payment of land rent and land use fees of the 30.106 ha Nam Rach Chiec project, Binh Trung Ward, Ho Chi Minh City according to the prudential requirements of the auditing unit.
Thanks to that, Novaland has sharply narrowed its loss compared to the same period last year, from a loss of VND 6,726 billion to a loss of nearly VND 190 billion.
Novaland's 6-month revenue increased significantly thanks to handovers at projects such as NovaWorld Phan Thiet, NovaWorld Ho Tram, and Aqua City.
In the first 6 months of 2025, Novaland recorded total consolidated revenue of VND 3,715 billion from sales and service provision.
Of which, net revenue from sales reached nearly VND 3,423 billion, up 81% over the same period last year. Most of it was recorded from handovers at projects such as: NovaWorld Phan Thiet, NovaWorld Ho Tram, Aqua City, Sunrise Riverside, Palm City...
However, the company still recorded a loss of VND666 billion, mainly due to exchange rate differences and other operating losses.
As of June 30, 2025, the Group's total assets reached over VND 238,619 billion. Inventory recorded VND 150,533 billion, of which the value of land fund and projects under construction accounted for 94.8%, the rest was completed real estate and real estate goods, completed real estate waiting to be handed over to customers.
As of the end of June, Novaland's total outstanding loans were more than VND61,000 billion, of which the total loans due in the next 12 months were about VND32,000 billion.
Novaland said that with pressure from many sides, especially when cash flow is still difficult, the first half of 2025 still lost hundreds of billions of VND, Novaland is still not able to fully pay off the outstanding debts from 2022 to present, and the Group is still continuing to find new restructuring solutions for these debts to have a solution from the end of 2026 - early 2027.
Although there has not been much progress in improving business efficiency and debt payment, in the second quarter of 2025, Novaland's key projects such as Aqua City, NovaWorld Phan Thiet, and NovaWorld Ho Tram have completed many key legal steps after many years of efforts to remove obstacles.
Novaland's projects in the central area of Ho Chi Minh City are also being accelerated by the Working Groups to remove legal obstacles, creating a basis for early calculation of land use fees.
However, Novaland believes that completing all legal procedures for projects is still a story that cannot be completed in a short time, especially the stage of calculating land use fees and preparing funds to fulfill financial obligations when notified by the authorities.
For example, NovaWorld Phan Thiet, the project has not yet completed the land use fee calculation, and the next big challenge for Novaland is to raise more capital to be able to pay the land use fee at once for the entire lease term for more than 381 hectares of commercial service land at this project.
It is expected that on August 7, Novaland will hold an extraordinary General Meeting of Shareholders to submit to the General Meeting for approval the plan to issue individual shares to convert debt and change the Board of Directors members.
According to the content of the proposal, the number of NVL shares expected to be issued depends on the conversion price determined and announced by the Board of Directors on July 31, 2025.
The swap price is determined based on the average closing price of the last 30 trading days of NVL shares on the HOSE before July 31.
Shares issued privately for debt conversion are distributed directly to creditors and will be subject to transfer restrictions for 1 year from the date of completion of the issuance, except in cases of implementation pursuant to a legally effective court judgment or decision, an arbitration decision or inheritance in accordance with the provisions of law.
The total value of the swapped debts is over VND2,645 billion. Of which, the largest creditor is Novagroup Joint Stock Company with over VND2,527 billion. The debt to Diamond Properties Joint Stock Company is VND111 billion...
Source: https://baodautu.vn/quy-ii2025-novaland-giam-lo-hon-6536-ty-dong-so-voi-cung-ky-d343322.html
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