Real estate segment is still VinGroup's best source of revenue in Q1/2019
2019 – In terms of revenue structure in the last quarter, the real estate transfer segment still accounted for the largest proportion with VND 8,430 billion (accounting for 38.5% of total revenue). Although revenue from this segment declined sharply by 58% over the same period last year, the total value of newly signed real estate sales contracts and new deposits in the period still reached VND 12,348 billion, a sharp increase of 49%.
The total accumulated value of real estate sales contracts as of March 31, 2019 is VND 334,405 billion. In addition, the real estate rental segment also brought Vingroup VND 1,689 billion, an increase of 31% over the same period last year and accounted for 8% of total revenue.
The first quarter of 2019 of VinGroup
Vingroup Corporation (VIC) has just announced its consolidated financial statements for the first quarter of 2019 with a total consolidated net revenue of VND 21,823 billion, down 23% compared to the same period last year. The company earned a pre-tax profit of 1,928 billion dong, down 27%. And net profit after tax of the parent company reached VND 1,038 billion, an increase of 13% compared to the first quarter of 2018.
As of March 31, 2019, Vingroup's total assets reached VND 314,126 billion, an increase of 9.1%; equity reached VND 102,373 billion, an increase of 3.4% compared to the end of 2018. The company's ending liabilities were VND 211,753 billion, of which short-term and long-term loans were VND 92,103 billion and swap bonds. is 10,225 billion VND.
Other revenue collection segments of Vingroup in the first quarter of 2019
Revenue from the retail and supermarket segment of Vingroup increased sharply in the first quarter, closely following the real estate transfer segment.
Other business areas of Vingroup all achieved growth. Specifically, revenue from the supermarket and retail business increased by 70% to VND 7,026 billion, accounting for 32% of total revenue. The segment providing hotel services, tourism and entertainment brought in 1,939 billion VND (accounting for 9%); the segment of providing hospital services reached VND 668 billion (accounting for 3%); The education segment brought in VND 511 billion (accounting for 2.5%), the manufacturing segment brought in VND 1,317 billion (accounting for 6%) and more than VND 333 billion came from other business activities.
In addition, the revenue from financial activities of Vingroup also increased sharply from VND 533 billion to VND 3,429 billion, of which mainly profit from the liquidation of financial investments and the transfer of subsidiaries. The company's deposit interest in the period also doubled to 574 billion dong.
Notably, the total investment capital in Vingroup's Vinfast project by the end of the first quarter of 2019 has reached VND 30,938 billion, an increase of VND 4,253 billion compared to the beginning of the year. According to Vingroup's new plan, this project will be completed in June 2019, instead of September 2019 as previously expected.
See more at: https://thuanhunggroup.com/tag/tap-doan-vin-group/
Source: 24h newspaper
- CEO corner - CCO - SALES
- REAL ESTATE BUSINESS LAW
- REAL ESTATE MARKET NEWS