Novaland Group's (NVL) unaudited consolidated financial report shows that after-tax profit for the full year 2025 reached nearly 1,819 billion dong. This figure significantly improved compared to the record loss of 4,395 billion dong in 2024, marking the company's highest profit since 2022.

Despite the strong profit improvement, Novaland's revenue decreased by over 23%, registering around 6,965 billion dong. Of this, net sales from goods accounted for 6,365 billion dong, primarily stemming from handovers at projects such as NovaWorld Phan Thiet, NovaWorld Ho Tram, Aqua City, Sunrise Riverside, and Palm City.

However, the cost of goods sold for this period dropped by over 72%. This reduction boosted the company's gross profit to nearly 4,488 billion dong, 53 times higher than the previous year. Consequently, the gross profit margin increased to over 64.4%. Including financial income and deducting recurring expenses, Novaland's net profit from business operations reached over 2,025 billion dong, a notable turnaround from the negative 676 billion dong recorded in the same period last year.

The financial report for this period also highlights a substantial increase in other income, which rose over 5 times to approximately 2,174 billion dong. This includes contract violation penalties, which were 2.7 times higher than the same period last year, reaching 895 billion dong. Additionally, Novaland recorded over 1,271 billion dong from the reversal of late tax payment penalties, an item not present in 2024.

The company stated that in Q4/2025, it recorded the reversal and adjustment of provisions related to land lease and usage fees for the Lakeview City project. This project is one of the first in TP HCM to be resolved through specific mechanisms outlined in Resolution 170/2024. The aforementioned penalties were a primary reason for Novaland's record loss in the previous year. By the end of Q4/2025, the total provision obligation was 1,014 billion dong.

However, Novaland also recorded over 1,200 billion dong in other expenses, primarily consisting of penalties and compensation for contract violations. The company did not provide specific details regarding these expenses.

A high-rise residential project by Novaland in Cat Lai ward, TP HCM. Photo: NVL

As of the end of 2025, Novaland's total assets amounted to 249,792 billion dong. Inventory was recorded at 153,392 billion dong, with the value of land banks and projects under construction accounting for 94.2%. The remaining portion includes completed properties, real estate goods, and properties awaiting handover to customers.

The company's total outstanding debt was approximately 67,191 billion dong. Short-term loans accounted for 31,518 billion dong, showing a slight decrease as Novaland reduced some of its bond debt. Conversely, long-term loan balances increased due to the disbursement of new loan packages, providing additional financial resources to accelerate project implementation. Novaland stated it is continuing to implement various solutions to restructure, alleviate cash flow pressure, and ensure the rights of stakeholders.

In 2025, Novaland handed over 952 products from its projects. Cumulatively, by the end of the previous year, NovaWorld Phan Thiet had handed over nearly 1,500 products, with 750 units fully furnished and put into rental operation. Aqua City handed over over 1,000 products, with nearly 2,400 properties now eligible for sales contract signing. NovaWorld Ho Tram completed handovers for nearly 600 products.

Over the past year, thousands of products across Novaland's projects received land and house ownership certificates. For the 2025-2026 period, the company anticipates over 10,500 pink books (land and house ownership certificates) will be issued to residents at projects including The Sun Avenue, Kingston, Sunrise City North, Garden Gate, Lexington, Lucky Palace, Tropic Garden 1, Tresor, Rivergate, Orchard Garden, Golden Mansion, and Lakeview City.

Following the announcement of its business results, NVL stock closed today's trading session at 13,000 dong per unit, hitting the ceiling. While the market price improved compared to previous declining sessions, the stock has remained flat since the beginning of the year.

Tat Dat