VND302 billion profit

Experiencing challenges of the COVID-19 pandemic, Century Land Joint Stock Company (HSX: CRE, Cen Land) still has positive business results.

According to the consolidated financial statements in Quarter IV 2020, net revenue reached VND805 billion, up 15 per cent over the same period last year. Profit after tax was VND99.5 billion, an increase of 58 per cent over the third quarter, a slight decrease compared to the same period in 2019.

Net revenue for the whole year reached VND2,113 billion, equal to 92 per cent of the revenue of 2019. In which, revenue from brokerage was VND1,037 billion, equal to 81 per cent compared to 2019, revenue from real estate transfer increased slightly to VND1,039 billion. EAT is about VND302 billion, down by 23 per cent YoY while EPS is VND3,692/ share.

Cen Land among 500 largest enterprises for the year

Total assets strongly increased by 45 per cent to VND3,892 billion, mainly due to increased deposits and collaterals to ensure brokerage of real estate products from projects and some other receivables. In 2020, the company increases its financial debt to deploy secondary investment projects.

Although Cen Land's business results were successful in the context of the downturn of the real estate market and many businesses reported losses.

At the end of January 19 session, CRE stood at VND25,800/ share. Average matched volume in the last 10 sessions reached 1.7 million units.

Recently, Cen Land announced bond issuance of more than VND450 billion in Louis City project and an investment of VND800 billion in the urban projects of Hanoi. It is expected that these projects will bring big revenue for Cen Land in 2021.

Three milestones of Cen Land 2020

The positive business results are due to Cen Land's "fast and furious" transformation. In localities, Cen Land has closed a series of representative offices. In just a short time, these were upgraded to local companies. This is one of the important steps to help Cen Land change a new face, its position, and demonstrate strong development.

In December 2020, Cen Quang Ninh Joint Stock Company was established from its precursor as the representative office of Cen Land in Quang Ninh province and followed by Cen Vinh Phuc, just to name a few.

Continuing to expand the network, Cen Land opened Cen Hung Yen, Cen Hai Phong and more. On January 12, 2021, Cen Ho Chi Minh City branch was officially launched at the headquarters, 59 Nguyen Co Thach street, An Loi Dong ward, District 2, HCMC.

Expanding the market, Cen Land launched Cen Quang Ninh Joint Stock Company

According to the ongoing digital transformation, Cen Land sets a big goal when it acquires 100% of Cenhomes.vn proptech platform to become the first unicorn in this field in Vietnam. With an investment of $10 million, Cen Homes becomes the largest proptech platform that owns the largest online property valuation database in Vietnam with high accuracy thanks to virtual reality (VR), Big Data and artificial intelligence (AI).

In the future, Cen Homes will be a super app as well as an effective assistant to the operations of agencies, realtors and homebuyers.

In the "new normal" stage, Cen Land steadily comes up with important strategies, focusing on potential, high-profit fields such as industrial and logistics real estate under Cen Zone brand, shophouses for secondary market, short and long term rental application under Cen Housing and Cen Stay.

With continuous efforts, in 2020, Cen Land is honored to receive a series of prestigious awards from domestic and international organizations. In July 2020, Cen Land is the big winner at Dot Property Vietnam Awards 2020 for Vietnam's Best Real Estate Agencies and Vietnam's Best Property Consultancy Firms.

In November 2020, Cen Land was awarded as "Asia's 200 Best Under A Billion" by Forbes.

Most recently, Cen Land was honored among 500 largest enterprises for the year in Vietnam voted by Vietnam Report for the third consecutive year.