Cars, phones deliver one-fifth of Vingroup revenues
In this article (5)
Automobiles and smartphones accounted for 19 percent of private conglomerate Vingroup’s revenues in the last quarter of 2020.
This marked a 40 percent year-on-year increase to VND6.9 trillion ($299.45 million).
The largest private conglomerate in Vietnam sold 31,500 cars last year, with its VinFast sedan and SUV models among the bestsellers in their respective segments.
The group’s VinSmart phones were also among the bestsellers in Q4, 2020.
The company saw revenues from real estate in the quarter rising 47 percent year-on-year to over VND22.2 trillion after handing over three major Vinhomes projects.
Revenue from tourism and entertainment, however, fell 40 percent to VND1 trillion because of the Covid-19 pandemic.
For the whole year, Vingroup’s pre-tax profit fell 11 percent to VND13.96 trillion, while revenue fell 15 percent to VND110.46 trillion.
Questions & Answers
Q.What was the total revenue Vingroup generated from automobiles and smartphones in the last quarter of 2020?
What was the total revenue Vingroup generated from automobiles and smartphones in the last quarter of 2020?
In the final quarter of 2020, Vingroup's revenues from automobiles and smartphones totalled VND6.9 trillion, which is equivalent to $299.45 million. This figure represented a 40 percent year-on-year increase for the conglomerate.
Q.How did Vingroup's real estate revenue perform in the last quarter of 2020 compared to the previous year?
How did Vingroup's real estate revenue perform in the last quarter of 2020 compared to the previous year?
Vingroup's real estate revenue significantly increased in Q4 2020, rising by 47 percent year-on-year to over VND22.2 trillion. This growth was attributed to the handover of three major Vinhomes projects during the quarter.
Q.What was the impact of the Covid-19 pandemic on Vingroup's tourism and entertainment revenue in Q4 2020?
What was the impact of the Covid-19 pandemic on Vingroup's tourism and entertainment revenue in Q4 2020?
The Covid-19 pandemic caused a significant drop in Vingroup's tourism and entertainment revenue in the last quarter of 2020. Revenue for this segment fell by 40 percent, reaching VND1 trillion.
Q.How did Vingroup's overall pre-tax profit and revenue change for the entirety of last year?
How did Vingroup's overall pre-tax profit and revenue change for the entirety of last year?
For the whole year, Vingroup experienced a decrease in its financial performance. Its pre-tax profit fell by 11 percent to VND13.96 trillion, while total revenue saw a 15 percent decline, reaching VND110.46 trillion.
Reader pulse
What's the biggest driver of Vingroup's Q4 2020 revenue growth?
23,098 votes so far