Recently, Vingroup Group announced its business results for the first quarter of 2022, with revenue of VND 18,229 billion, down 21.7% over the same period last year.
In the revenue structure of Vingroup, the real estate transfer segment only brought in VND 6,685 billion, the lowest since the fourth quarter of 2016 and down 37% over the same period last year. Therefore, the contribution of the real estate segment in Vingroup’s total revenue is only 36.7%. Previously, the real estate segment usually accounted for about two-thirds of Vingroup’s revenue.
The second largest proportion is revenue from ‘other business activities’, accounting for 3,854 billion VND, equivalent to the previous quarters. However, due to the decrease in Vingroup’s total revenue, the proportion of the ‘other business’ segment increased to 21%.
The manufacturing segment this period brought in VND 3,324 billion, equivalent to a proportion of 18.2%, the highest ever. VinFast in the first quarter of the year sold more than 6.7 thousand cars. Besides, after only three months of opening registration, VinFast has received a total of about 60,000 orders for VF 8 and VF9 globally.
On March 29, 2022, VinFast announced the construction of the first overseas manufacturing plant in Chatham County, North Carolina, USA.
In the real estate leasing segment, Vingroup earned VND 1,471 billion. Recently, Vincom Retail has officially opened Vincom Mega Mall Smart City – the fourth Mega Mall in Hanoi.
Tourism earned 1,349 billion VND. Vingroup said that Vinpearl’s activities recovered strongly in the quarter. Total number of room nights sold increased 23% year-on-year thanks to a sharp increase in domestic tourists during the holiday season. Thanks to that, the loss of the tourism segment in the last period fell to the lowest level in 2 years.
The two segments of health and education brought in VND 865 billion and VND 681 billion in revenue, respectively.
Summarizing the first quarter of 2022, Vingroup achieved a profit of VND 1,827 billion from business activities, a profit before tax of VND 1,928 billion and profit after tax of VND 512 billion. In which, non-controlling shareholders suffered a loss of 1,941 billion dong and the profit of parent company shareholders was 2,453 billion dong.
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