Vingroup posts revenue of $3.2bn in Q1

According to its financial report, Vingroup recorded a consolidated revenue of around VND84 trillion (over $3.23 billion), up 287 percent from the same period last year.

This marked the highest quarterly revenue in the company’s history, primarily attributed to the industrial and real estate sectors.

Vinhomes – a Vingroup subsidiary – posted a consolidated net revenue of VND15.7 trillion (nearly $604 million) and an after-tax profit of VND2.6 trillion (over $102 million), up 193 percent from the first quarter of last year.

Meanwhile, VinFast – another Vingroup subsidiary specializing in electric vehicles (EVs) – delivered 36,330 EVs, nearly four times the figure from a year earlier.

Vingroup’s consolidated after-tax profit reached VND2.243 trillion ($86.3 million), up 68 percent compared to 2024’s first quarter.

At its recent annual general meeting, shareholders approved the group’s 2025 business plan, targeting revenue of VND300 trillion ($11.54 billion) and after-tax profit of VND10 trillion ($385 million), up 59 percent and 88 percent compared to last year, respectively.

Speaking at the meeting, Vingroup chairman Pham Nhat Vuong noted that the real estate market is showing clear signs of recovery, with revenue from the segment expected to surge this year.

Beyond real estate and EVs, Vingroup is expanding other strategic sectors including infrastructure, energy, and seaports.

As of Thursday evening, Vuong’s fortune had risen to $8.3 billion, placing him 373rd on Forbes’ real-time list of the world’s billionaires.