VINCOM RETAIL ANNOUNCED FINANCIAL RESULTS FOR THE SECOND QUARTER OF 2025, WITH PROFIT AFTER TAX REACHED VND 1,233 BILLION, UP 20% YOY

Hanoi, on July 29, 2025, Vincom Retail Joint Stock Company (ticker “VRE”) released the consolidated financial statements for 2Q2025 according to Vietnamese Accounting Standards (VAS).

In 2Q2025, Vincom Retail recorded consolidated net revenue of VND 2,143 billion, lower than that in the same period last year which was primarily due to lower revenue from sales of inventory properties as handovers at existing projects were mostly completed, which has been reflected in the company’s business targets. Meanwhile, revenue from leasing and related services continued to grow steadily, reaching VND 2,068 billion in the second quarter, up 6.6% YoY. This growth was driven by a sustained recovery in occupancy rates across the mall portfolio and contributions from new malls opened in 2H2024. Thanks to the strong performance of the leasing segment, profit after tax grew 20.7% year-on-year to VND 1,233 billion.

Vincom Retail continued to strengthen customer engagement in the second quarter through a series of experiential retail initiatives across its malls. A key highlight was the nationwide “Viet Malliday – Summer Holiday” campaign, launched to commemorate the 50^th anniversary of National Reunification Day. Select malls featured traditional decor, national flag displays, and culturally themed check-in areas to enhance the festive atmosphere.

During the five-day holiday period from April 30 to May 4, Vincom malls welcomed nearly 5 million visitors—a 51% increase compared to the same period last year. Total footfall across the Vincom mall network rose 14.7% year-on-year in Q2, signaling a clear rebound in consumer demand for shopping, dining, and entertainment experiences.

Vincom Retail also introduced a number of experiential events debuting for the first time in Vietnam, such as the Art Toy Festival – a globally popular cultural event, along with the 45th Anniversary of the Doraemon Movie. These events attracted millions of customers through iconic character displays, interactive zones, and complimentary themed workshops, delivering memorable cultural experiences for customers of all ages.

In 2Q2025, Vincom Retail was featured in the Top 50 Best Listed Companies in Vietnam 2025 by Forbes Vietnam, based on key metrics including revenue, profit, corporate governance, industry positioning, and growth potential. The Company was also honoured with “Green Leadership” award from Asia Responsible Enterprise Award (AREA) for the second consecutive year, recognizing its commitment to sustainability through environmental initiatives implemented across its mall network.

Looking ahead to the third quarter of 2025, Vincom Retail is set to launch two major shopping malls: Vincom Mega Mall Ocean City (Hung Yen) and Vincom Mega Mall Royal Island (Hai Phong). Vincom Mega Mall Ocean City is expected to become a top destination for shopping and entertainment of the city, offering a diverse strategic tenant mix, including a wide array of international brands such as AEON Supermarket, Aquafield, Flying Tiger, and Oh!Some, complemented by a variety of F&B and entertainment offerings. Meanwhile, Vincom Mega Mall Royal Island is positioned as a premium retail destination with a well-rounded offering of shopping, dining, and entertainment. The mall also benefits from a significant infrastructure boost with the inauguration of the Hoang Gia Bridge in July 2025. The bridge connects the mall directly to Hai Phong city center, cutting travel time to just 10 minutes from over 60 minutes previously, and creating strong potential to attract both residents and tourists to the mall upon opening.