VinFast Auto Ltd (NAS:VFS)

Q2 2025 VinFast Auto Ltd Earnings Call Transcript

Sep 04, 2025 / 12:00PM GMT

Release Date Price: $3.33 (-2.06%)

Transcript

Key Points

Positve

VinFast Auto Ltd (VFS) reported a 172% year-over-year increase in EV deliveries for Q2 2025, with a total of 35,837 units delivered.
The company achieved a 92% year-over-year revenue growth, driven by strong sales in Vietnam.
VinFast Auto Ltd (VFS) expanded its manufacturing capacity with the inauguration of two new factories in Vietnam and India.
The company is making significant progress in international expansion, with strategic partnerships and dealership agreements in India and Southeast Asia.
VinFast Auto Ltd (VFS) has maintained its number one position in the Vietnamese auto market, with three of the five best-selling models being VinFast EVs.

Negative

VinFast Auto Ltd (VFS) reported a negative gross margin of 41% for Q2 2025, indicating ongoing profitability challenges.
The company experienced higher warranty provision rates, impacting its financial performance.
Operating cash flow for the quarter was negative USD463 million, reflecting continued cash burn.
The e-scooter business remains loss-making, with expectations for continued losses in the near term.
International markets contributed less than 10% of total deliveries, indicating limited penetration outside Vietnam.

Operator

Good day, and thank you for standing by. Welcome to VinFast second-quarter 2025 financial results and Q&A webcast. (Operator Instructions) Please be advised that today's conference is being recorded.

I'd now like to hand the conference over to your first speaker, Ms. Amandae Baey, Vice President of Investor Relations. Please go ahead.

Amandae Baey

VinFast Auto Ltd - Vice President of Investor Relations

Thank you, operator. And good morning, everyone. Welcome to VinFast quarterly earnings call. Joining me today are Chairwoman of the Board, Madam Thuy Le; and our CFO, Ms. Lan Anh Nguyen.

Before I turn the call over to Madam Thuy Le, let me remind you that some of the statements on this call include forward-looking statements under federal securities law. These include, without limitation, statements regarding the future financial and operating outlook, guidance, macroeconomics, industry trends, company initiatives, and other future events. These statements are based on the predictions and expectations as of today. Actual events or results

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