Vietnam’s biggest conglomerate Vingroup doubled its revenues year-on-year in the first half, mostly thanks to strong growth at EV subsidiary Vinfast.
Post-tax profits jumped 120% to VND4.51 trillion on revenues of VND130.37 trillion (US$3.95 billion).
Its manufacturing businesses, led by VinFast, reported revenues of nearly VND33 trillion, up 134% from the previous year.
VinFast delivered over 67,500 electric cars in the first six months, the highest first-half figure ever recorded by an auto company in Vietnam.
The company also opened its second plant with an annual capacity of 200,000 units at the Vung Ang Economic Zone in the central province of Ha Tinh.
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VinFast VF3 seen at an event. Photo by VnExpress/Tuan Vu |
Property, led by Vinhomes, continued to be the main money spinner with sales increasing by 167% to VND70.5 trillion.
Resort chain subsidiary Vinpearl earned revenues of VND5.92 trillion as the number of customers increased by 16%, underscoring the brand’s growing appeal.
Vingroup is the largest private company by assets (VND964.44 trillion) in the country and second only to state-owned Vietnam Oil and Gas Group, whose assets exceed VND1,000 trillion.
