VinFast's overseas push lifts quarterly revenue, restructuring gains ease losses
VFS•VFS•VFS•VFS•VinFast's second-quarter revenue rose 85.5% year over year to 30.3 trillion dong ($1.17 billion), while a gain largely tied to a manufacturing asset transfer helped cut its net loss about 93% to $54.65 million.
VinFast reported second-quarter revenue of 30.3 trillion dong ($1.17 billion), up 85.5% from a year earlier, citing stronger sales in Vietnam and growing contributions from overseas markets including India, Indonesia and the Philippines. A gain from discontinued operations of about $1.15 billion, largely related to a manufacturing asset transfer, helped narrow its net loss to about $54.65 million.
VinFast's May restructuring plan included transferring manufacturing assets worth about $530 million to a purchaser group that would assume roughly $6.9 billion of debt. The company said in April it aimed to achieve positive EBITDA by the end of next year. It recently launched the VF Wild pickup, a range-extended electric vehicle, in Vietnam and plans to introduce it overseas next year.
