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Vingroup Joint Stock Company (VIC) investor relations material
Vingroup Joint Stock Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong 9M2025 results, with adjusted revenue up 30% YoY and net profit after tax up 86% YoY, supporting a positive outlook for 2026.
Net revenue for Q3 2025 was VND 39,135 billion, down 38% YoY, mainly due to lower sales of inventory properties.
Net profit after tax for Q3 2025 reached VND 3,025 billion, up 50% YoY, driven by higher finance income and lower tax expenses.
Maintained leadership in Vietnam's EV market, with VinFast deliveries up 149% YoY and e-scooter deliveries up 489% YoY.
Real estate segment saw robust growth, with Vinhomes' contracted sales up 96% YoY and unbilled sales up 93% YoY.
Financial highlights
Adjusted revenue for 9M2025 reached VND 177,369 billion, up 30% YoY.
Net profit after tax was VND 7,565 billion for 9M2025.
Gross profit margin improved to 31.3% and EBITDA margin to 21.3% for 9M2025.
Finance income surged 291% YoY to VND 33,505 billion in Q3 2025, mainly from gains on disposal of investments and subsidiaries.
Industrials revenue surged 80% YoY, while hospitality & entertainment services grew 29% YoY.
Outlook and guidance
Solid 9M2025 performance underpins a positive outlook for 2026, with Vietnam targeting 10%+ GDP growth by 2030.
Management expects continued volatility in real estate sales but anticipates stable performance in manufacturing and services.
Continued expansion in EV, real estate, and hospitality segments expected to drive future growth.
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