Vingroup revenues down 5%
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Vingroup, Vietnam’s biggest private conglomerate, made total consolidated net revenues of VND88.191 trillion ($3.56 billion) in the first nine months, posting a year-on-year decline of nearly 5%.
Vingroup gained after-tax profits of VND1.571 trillion, according to its latest consolidated financial statements.
By the end of September, the firm’s total assets stood at VND555.571 trillion, up 30% against late last year, mainly due to successful transactions among new real estate projects.
Vingroup said its property segment will continue to grow in the last quarter and next year, and its vehicle sales will rise in the last quarter. Its other segments, including trade center business, tourism, recreation, healthcare and education are also expected to recover.
Since the beginning of this year, Vingroup has mobilized $760 million from the international capital market, including $625 million worth of international bonds and $135 million from an anti-climate change financial package from the Asian Development Bank.
Questions & Answers
Q.What contributed to the increase in Vingroup's total assets this year?
What contributed to the increase in Vingroup's total assets this year?
The firm's total assets grew by 30% against late last year, primarily due to successful transactions related to new real estate projects. This expansion led to their total assets reaching VND555.571 trillion by the end of September.
Q.Which of Vingroup's business segments are expected to improve in the near future?
Which of Vingroup's business segments are expected to improve in the near future?
Vingroup anticipates continued growth in its property segment for the last quarter and next year, alongside a rise in vehicle sales in the last quarter. Other segments like trade centres, tourism, and healthcare are also expected to recover.
Q.How much capital has Vingroup raised from the international market this year?
How much capital has Vingroup raised from the international market this year?
Since the beginning of the year, Vingroup has mobilised $760 million from the international capital market. This includes $625 million from international bonds and $135 million from an anti-climate change financial package via the Asian Development Bank.