Impressive results in the midst of the pandemic crisis

Century Land Joint Stock Company (Cen Land, HSX: CRE) has just announced its business results for the second quarter of 2021 and the first six months of the year. Accordingly, revenue from brokerage and services in the second quarter of 2021 reached over VND1,686 billion. By the end of the second quarter of 2021, that reached over VND3,566 billion.

Profit after corporate income tax in the financial statements of the parent company in the second quarter of 2021 was VND122.226 billion, up 48% over the same period in 2020. Profit after corporate income tax in quarter 2/2021 consolidated financial statements was over VND128.372 billion, up 32.48%. By the end of the second quarter of 2021, the profit after corporate income tax reached VND208.146 billion.

Due to the expansion of business activities, revenue and profit increase compared to the same period last year. Profit after corporate income tax in the Company's separate financial statements for the second quarter of 2021 rose by 48.74% thanks to an increase of 310.8% in revenue and a 366.1% increase in cost of goods sold, selling expenses rose by 155.6% and administrative expenses increased by 22.4% over the same period in 2020.

Cen Land's No. 1 real estate service ecosystem is affirming its position by impressive business results.

Profit after corporate income tax in the company's consolidated financial statements for the second quarter of 2021 grew by 32.48% due to a 277% increase in net revenue, 434.3% increase in COGS, 117.9% increase in selling expenses, and 13.6% increase in administrative expenses over the same period in 2020.

As of June 30, 2021, the Company's total assets increased by about 37% to more than VND5,209 billion. Notably, inventories amounted to VND1,291 billion, 40 times higher than the beginning of the period and accounted for 25% of total assets. While equity increased by 11.5%, liabilities rose by 66%, short-term and long-term loans were VND2,137 billion, accounting for 41% of total capital.

In the short term, the Company has revenue from projects of developers such as: Bitexco Group, Dat Phuong Group, MIK Home, Xuan Cau, Him Lam, Gamuda Land Vietnam and more.

The overall influence of the market made many stocks fall but CRE did not have much change. On the stock market, CRE shares are still at a high level of over VND42,500/share (according to the trading session on July 19, 2021).

As of June 30, the number of shares issued to the public was 95.99 million shares. Market capitalization was VND4,079.99 billion. Basic EPS is VND3,910.

Domination of the market share

In 2021, Cen Land plans to increase charter capital by VND1,056 billion by issuing nearly 106 million shares, raising charter capital to more than VND 2,000 billion.

The Company issues bonds with the purpose of increasing the capital, serving business, secondary investment in real estate projects and lending to contribute capital to real estate projects. The total issuance value is VND950 billion.

The last six months of the year still have many difficulties due to the impact of the pandemic. To maintain No. 1 position in the real estate brokerage market, Cen Land continues to have solutions to achieve the set plan.

The 2021 plan is the starting year for an accelerated period, expanding Cen Land's market share to build the largest proptech platform in Vietnam and maintain revenue growth over 80%/year from now to 2023.

In the coming time, CRE will continue to build and expand the largest and most professional real estate service ecosystem in Vietnam with customer-centricity and brokerage as the core business. Cen Land has dozens of member companies in more than 30 provinces and cities, 700+ connected agencies and 15,000+ authorised agents.

Thanks to the advantage in applying technology to the real estate brokerage, CRE still dominates its market share, connects customers and developers with a professional proptech platform. Currently, CRE owns 100% of the largest proptech platform in Vietnam, pioneering in digital transformation and applying 4.0 technology with big data.

Cenhomes.vn 3.0 has just been released with new features: data management, running ads to collect leads, and more to help realtors minimize selling costs during the COVID-19 pandemic.

Cen Land has a branch to specialize in sales for projects of Vinhomes and large investors. In the medium and short term, Cen Land will focus on projects that have practical needs and are suitable for customers' ability to pay.

Cen Land is selling many large projects such as: Louis City Hoang Mai, The Manor Central Park, Binh Minh Garden, Kien Hung Luxury, Xanh Villas, Vinhomes Ocean Park, Vinhomes Smart City (Hanoi); King’s Garden Resort, Wyndham Lynn Times Thanh Thuy (Phu Tho), Sol City in Ho Chi Minh City, Happy One Central in Binh Duong, Stella Mega City in Can Tho and a number of projects of Vinhomes.

Cen Land actively participates in anti-epidemic activities such as supporting pandemic prevention, vaccine fund, transporting goods, and more.

In Ho Chi Minh City, Cen Group’s Hearts of Gold Foundation has launched "Saigon needs, Cen is ready", supporting fruits and vegetables to help Saigon overcome the pandemic.

As a leading real estate service ecosystem, Cen Land has powerful sales forces: Cen Hanoi, Cen Ho Chi Minh City, Cen Vinh Phuc, Cen Bac Ninh, Cen Quang Ninh, Cen Dong Bac, Cen Hai Phong, Cen Hung Yen, Cen Thanh Hoa, Cen Nghe An, Cen Mien Trung, Cen Binh Dinh, Cen Khanh Hoa and Cen Binh Thuan.