Vingroup Joint Stock Company (VIC) Q2 2026 earnings summary

Executive summary

• 1H2026 adjusted revenue reached VND221,920bn, up 67% YoY; net profit after tax rose 361% to VND20,905bn.

• Revenue and profit growth reflected property handovers and higher financial income from subsidiaries; property sales and industrials led revenue growth.

Financial highlights

• 2Q2026 adjusted revenue was VND117,568bn, up 140% YoY; 1H2026 income-statement revenue grew 66.7%.

• Q2 2026 net revenue was VND12,085bn, up 148% YoY; six-month net revenue reached VND19,262bn.

• Q2 gross profit was VND8,350bn, up 894%, and net profit after tax was VND14,574bn, up 6,717% YoY.

• 1H gross profit rose 140.8%, EBITDA 73.3% and profit before tax 208.3% YoY; adjusted revenue included VND127,187bn property sales and VND94,734bn non-property revenue.

• Q2 financial income rose 147% to VND21,797bn, mainly from dividends and investment disposals; financial expenses rose 67% to VND14,124bn.

Outlook and guidance

• 1H adjusted revenue achieved 46% of full-year guidance and net profit after tax achieved 60%.

• Planned infrastructure includes the Hanoi–Quang Ninh high-speed rail, targeted to launch at end-2028, and a 300+ km Hanoi metro network targeted for 2030.

• VinFast plans further international expansion; Vinpearl plans new hospitality concepts and properties for 2027 openings.

• Management cited increased real estate deliveries and higher financial income as drivers, with expectations for continued strong performance.