Novaland Corporation Continues to Suffer Losses

Novaland Corporation (ticker symbol: NVL) has announced its financial report for Q2/2025, showing net revenue of 1.937 trillion VND, an increase of 22% compared to the same period last year, but a loss of nearly 190 billion VND after tax, continuing to record losses for the second consecutive quarter. Financial revenue decreased by 13% to 512 billion VND, while other profits from contract breach penalties surged to 262 billion VND. Selling costs increased by 76% to nearly 155 billion VND, and financial costs remained over 1.135 trillion VND despite reductions. Cumulatively, in the first half of the year, consolidated revenue reached 3.715 trillion VND, with sales revenue accounting for 3.423 trillion VND, a rise of 81% year-on-year. However, the cumulative after-tax loss was 666 billion VND, significantly lower than 7.327 trillion VND from the previous year. As of the end of Q2, Novaland’s total assets reached over 238.619 trillion VND, with inventory primarily consisting of land bank and ongoing projects. Total debt was over 61 trillion VND, with 32 trillion VND maturing in the next 12 months. Novaland plans to hold an extraordinary shareholder meeting on August 7 to consider a plan for issuing private shares to swap debt.