In 2024, Vinhomes plans its highest revenue ever with 120.000 billion VND (4,7 billion USD), profit after tax of 35.000 billion.
This information was stated by Vinhomes Joint Stock Company in the document just published in preparation for the annual meeting later this month.
According to Vinhomes Chairman Pham Thieu Hoa, Vietnam's economy and real estate sector in 2024 are forecast to continue to face many challenges despite certain signs of recovery. However, he believes that this year there will also be many opportunities for businesses with a solid management foundation.
This year, Vinhomes targets revenue growth of more than 15% to a record level of 120.000 billion VND, equivalent to more than 4,77 billion USD. Profit after tax increased about 4,3% to VND 35.000 billion, also the highest since 2022.
Since the beginning of the year, this real estate giant has added a self-trading distribution system in parallel with the existing nationwide agent system to anticipate the new growth cycle of the market and serve long-term development goals. term.
In addition to previously opened projects such as Vinhomes Ocean Park, Grand Park, Golden Avenue, the company also focuses strongly on new projects that have completed legal procedures. In January 1, Vinhomes started construction on the Trang Cat social housing project in Hai Phong. In March, the company opened for sale the Royal Island super project on Vu Yen island.
In a recent report, Vietcombank Securities (VCBS) said that Vinhomes' sales activities may be more exciting this year. VCBS forecasts that the project in Vu Yen can bring in sales cash flow for Vinhomes of more than 100.000 billion VND in the next 3-4 years.
Currently, this project is located in the high-end, luxury segment with quite high selling prices compared to the area (about 90 million per m2 for villas and over 130 million per m2 for townhouses and shophouses). In the future, Vu Yen island can benefit significantly from Thuy Nguyen district becoming a city by 2025 and having more bridges connecting with Hai Phong city.
According to VCBS, in the late 2024 and early 2025 period, Vinhomes plans to continue putting into business two large urban areas on the outskirts of Hanoi, Wonder Park in Dan Phuong (2 hectares) and Vinhomes Co Loa in Dong Anh (133 hectares). ha). These projects can achieve quite high selling prices in the context of large housing demand in Hanoi amid a prolonged lack of supply in the inner city and the project benefits from Ring Road 385.
However, VCBS reserves Vinhomes' 2024 full-year revenue at more than VND 87.000 billion, much lower than the target the company just set. Similarly, KB Securities Vietnam (KBSV) also estimates Vinhomes's sales revenue this year to be about VND 89.000 billion.
According to KBSV, by the end of last year, Vinhomes had not recorded a revenue of about VND 99.700 billion, of which 67% was from wholesale. Two projects Ocean Park 2 and 3 contribute 17% and 21% respectively. The company plans to record 50% of this amount in 2024.
Anh Tu
