VRE: Explanation for the Quarter 4/2022 consolidated financial statements

Vincom Retail Joint Stock Company has explained the movements of Quarter 4/2022 consolidated financial statements compared to the same period of last year as follows: Unit: VND million No. Item Quarter 4/2022 Quarter 4/2021 Difference % 10 Net revenue 2,084,406 1,367,010 717,396 52% 11 Cost of goods sold 1,032,199 903,051 129,148 14% 21 Financial income 200,940 87,389 113,551 130% 25 Selling expenses 56,855 80,311 (23,456) -29% 26 General administrative expenses 110,128 182,380 (72,252) -40% 60 Profit after tax 791,471 121,875 669,596 549% The explanation for the movements of 10% or more: − Net revenue in Quarter 4/2022 increased by 717 billion dongs: (i) the revenue from real estate for rent and related services provision increased by 1,015 billion dongs mainly due to the retail industry recovered well after the Covid-19; (ii) the revenue from real estate transfer decreased by 284 billion dongs. The cost of goods sold and services decreased accordingly. − Financial income increased by 113.5 billion dongs because of the increase in the gain from investment activities. − Selling expenses decreased by 23 billion dongs mainly due to the decrease in the commission costs of real estate projects. − General administrative expenses decreased by 72 billion dongs mainly due to the decrease in provision for doubtful debts. − The Company’s profit after tax increased by 669.6 billion dongs compared to the same period last year due to the reasons above.