VRE: Explanation for 2022 consolidated financial statements

Vincom Retail Joint Stock Company has explained the movements of 2022 consolidated financial statements compared to the same period of last year as follows: Unit: VND million No. Item 2022 2021 Difference % 10 Net sales 7,361,437 5,891,141 1,470,296 25% 21 Financial income 538,573 387,018 151,555 39% 22 Financial expenses 359,155 486,280 (127,125) -26% 25 Selling expenses 171,973 201,764 (29,791) -15% 26 General administrative expenses 371,266 433,167 (61,901) -14% 50 Profit before tax 3,524,490 1,692,277 1,832,213 108% 60 Profit after tax 2,777,128 1,315,013 1,462,115 111% The explanation for the movements of 10% or more: − Net sales in 2022 increased by VND1.470 billion: (i) the revenue from real estate for rent and related services provision increased by VND2.164 billion mainly due to the good recovery of the retail industry after the epidemic was controlled and the opening of 3 shopping centers in Quarter 2/2022; (ii) The revenue from real estate transfer decreased by VND623 billion. − Financial income increased by VND151.6 billion mainly due to the increase in the gain from investment activities. − Financial expenses decreased by VND127 billion due to the decrease in the payment of VND2.600 billion bonds in 2021. − Selling expenses decreased by VND30 billion mainly due to the decrease in the commission costs of real estate projects. − General administrative expenses decreased by VND62 billion mainly due to the decrease in in provision for bad debts. − Profit after tax increased by VND1,462 billion compared to the last year mainly due to the reasons above.