VinFast Auto Ltd. ( (VFS) ) has released its Q4 earnings. Here is a breakdown of the information VinFast Auto Ltd. presented to its investors.
VinFast Auto Ltd., a subsidiary of Vingroup JSC, is a Vietnamese electric vehicle manufacturer focused on making EVs accessible globally, with a diverse product line including electric SUVs, e-scooters, and e-buses. In its latest financial report, VinFast announced significant growth in both quarterly and annual revenues, reaching VND16,496.4 billion (US$677.9 million) for the fourth quarter and VND44,019.0 billion (US$1,808.9 million) for the full year 2024. The company also reported a substantial increase in EV deliveries, with 53,139 units delivered in the fourth quarter, marking a 143% rise from the previous quarter, and 97,399 units for the year, up 192% from 2023. Despite the revenue growth, VinFast faced financial challenges, reporting a gross loss of VND13,054.4 billion (US$536.4 million) in the fourth quarter and a net loss of VND30,594.8 billion (US$1,257.2 million), reflecting increased operational costs and a negative gross margin of 79.1%. Looking ahead, VinFast remains committed to expanding its global footprint, with plans to double its delivery targets in 2025 and continue its strategic investments in innovation and market expansion, while navigating the evolving macroeconomic landscape.