Press release Vincom Retail announces business and financial results for the first quarter of 2018

Hanoi, April 29, 2018, Vincom Retail Joint Stock Company (ticker “VRE”) released its interim consolidated financial statements of the first quarter of 2018 (1Q2018) prepared in accordance with Vietnamese Accounting Standards (VAS).

In the first quarter of 2018, total consolidated revenue reached VND 1.618 trillion, an increase of 16% year-on-year. Revenue from leasing and rendering related services was VND 1.266 trillion, an increase of 20% year-on-year. Revenue from sale of inventory properties was VND 335 billion, an increase of 7% over the same period last year. The company achieved profit before tax of VND 702 billion, VND 63 billion, or 8% lower than compared to the same period in 2017, due to an absent of profit from associates in the current period, which was VND 145 billion in the previous reporting period, due to a disposal of a minority stake in Tan Lien Phat Joint Stock Company in 2017.

As at 31 March 2018, Vincom Retail had 46 operating shopping malls in 24 cities and provinces throughout the country. Vincom Retail’s total assets were VND 38.120 trillion and shareholders’ equity was VND 26.636 trillion.

With an aim to offer new shopping experience to consumers, Vincom Retail implemented attractive marketing programs in the first quarter of 2018. Two large marketing campaigns were organized throughout our entire retail mall network, namely “Connecting with Gifts – Tet with Good Fortune” and “8 Flowers for March”. These successful campaigns resulted in increases in customer traffic between 15% to 30% at our malls compared with other regular periods.

Vincom Retail malls continue to attract a large following of customers for its quality offerings and strategic locations. To reinforce our leadership in the breadth of the network, in the first quarter of 2018, Vincom Retail is putting finishing touches to three Vincom Plaza malls in Long An, Bao Loc – Lam Dong and Thanh Hoa which are scheduled to be launched on 28 April in celebration of Vietnam Reunification Day. In May, two more Vincom Plaza malls in Hue and Quang Binh will be open, raising the total number of malls to 51, across 28 cities and provinces.