Investor Presentaiton
Gross Profit and Margin - VAS
Property sale(1)
(VNDbn)
Leasing
(VNDbn)
31.2%
Hospitality & Entertainment Services (2)
(VNDbn)
53.7%
62.3%
62.9%
13.4%
16.7%
45.3%
53.8%
60.2%
51.1%
49.0%
41.5%
44,828
35,643
CAGR: 7.3%
3,654
3,267
2,838
27,623
CAGR: 27.4%
2018
Healthcare
(VNDbn)
YOY:-29.9%
11,125
7,803
YoY: 52.3%
745
1,135
29.2%
-34.3%
-94.1%
1,304
891
440
(3,492)
(221)
(338)
(909)
2019
2020
1Q2020
1Q2021
2018
2019
2020
1Q2020
1Q2021
2018
2019
2020
1Q2020
1Q2021
Education
(VNDbn)
Industrials
(VNDbn)
-2.6%
2.0%
8.2%
14.0%
-6.0%
5.6%
14.9%
11.3%
39.0%
-9.7%
90
60
(246)
(5,039)
(7,695)
147
(1,446)
60
48
335
(159)
308
255
(1,146)
(2,725)
(68)
2018
Gross profit margin
2019
2020
Adjusted gross profit margin (3)
80
(49)
(106)
1Q2020
1Q2021
249
(35)
4.1%
-30.0%
-44.1%
-54.8%
-44.2%
(82)
2018
2019
2020
1Q2020
1Q2021
2018
2019
2020
1Q2020
1Q2021
(1)
Source: Audited VAS Consolidated Financial Statements for 2018-2020, Unaudited VAS Consolidated Financial Statements for 1Q2020 and 1Q2021.
Financial numbers are pro-forma, adding bulk sales and excluding the retail and agriculture segments.
(2)
Adjusted for the sales of beach villas to reflect underlying business performance.
(3)
Adjusted gross profit is cash gross profit adjusted for Covid-19 related expenses including charges incurred despite operation being shut down.
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