2021-11-16 10:44:00

Cen Land completes revenue target for 2021 in ten months

Business performance of Cen Land (HSX: CRE) in October recorded strong growth with over 900 transactions and revenue of 482 billion VND.

For 10 months, Cen Land has reached 5,008 billion VND (estimated) in net revenue and 363 billion VND in profit after tax, completing 100% of the revenue plan and 89% of the year’s profit plan.

 

Previously, from the beginning of July 2021, the Government implemented social distancing measures, which has significantly affected real estate brokerage in Q3/2021. However, Cen Land still had impressive business results.

 

In the first nine months of the year, Cen Land has offered to the market 6,520 real estate products, equivalent to the transaction value of 33,269 billion VND. Revenue from brokerage services grows 46% yoy to 1,102 billion VND despite the social distancing. The secondary investment segment records a revenue of 3,371 billion VND, an increase of 533% over the same period in 2020, notably Hinode Royal Park and Louis City Hoang Mai.

 

Total revenue in nine months of Cen Land reaches 4,668 billion VND, up 3.5 times compared to the same period in 2020, profit after tax is more than 328.43 billion VND, up 62% over the same period.

 

 

The target of 10,000 billion VND in 2022

 

Overcoming the difficulties of the pandemic, Cen Land always affirms its top player in the real estate brokerage market thanks to its special "weapons".

 

Cen Land dominates the brokerage market share in the North with 42% and 15% nationwide. The Company is selling a series of real estate projects of local and foreign developers such as: Louis City Hoang Mai, The Manor Central Park, Binh Minh Garden, Kien Hung Luxury, Xanh Villas (Hanoi); King’s Garden Resort, Wyndham Lynn Times Thanh Thuy (Phu Tho), just to name a few.

 

In the Southern region, some outstanding projects include Sol City in Ho Chi Minh City, Happy One Central in Binh Duong, and Stella Mega City in Can Tho. 2021 marks an important step in Cen Land's sales and brokerage as the agency continues to sell Vinhomes' projects.

 

The main breakthrough is Cyber ​​Agent - A large-scale community of individual real estate agents. The gap between demand and supply in the real estate sector will be eliminated.

 

Cenhomes.vn proptech platform has promoted its pioneering role in digital transformation of real estate brokerage. Cenhomes.vn is offering hundreds of projects with about 3,000 properties for sale, supports approximately 800 transactions per month during two years of the pandemic.

 

Cen Land has strong sales forces throughout Vietnam: Cen Hanoi branch, Cen Ho Chi Minh city branch, 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.

 

The representative of Cen Land shared when the COVID-19 pandemic is under control, transactions are active again and new investment opportunities will be opened. This helps Cen Land maintain its upward and high growth in 2022.

 

Recently, Cen Land decided to cancel the extraordinary general shareholders’ meeting (EGM) in 2021 to focus on building a better growth plan in 2022 with a revenue of at least 10,000 billion VND.

 

On the stock market, CRE continues to attract investors with average liquidity of 3-5 million shares/session, a total trading value of up to 100 billion VND/session, and market capitalization of 6,274 billion VND.

 

CRE aims at becoming a blue chip stock in 2022 with a market capitalization of tens of thousands of billion VND.