Q4 2025 VinFast Auto Ltd Earnings Call Transcript
Key Points
- VinFast Auto Ltd (VFS) achieved a record quarter in Q4 2025, delivering 86,557 EVs, contributing to a total of 196,919 EVs for the year, exceeding their guidance.
- The company maintained its position as the number one mobility brand in Vietnam with a 36% market share, up from 22% in 2024.
- VinFast Auto Ltd (VFS) is expanding its international presence, with overseas markets accounting for 18% of Q4 deliveries and 11% for the full year 2025.
- The company is investing in next-generation vehicle platforms and AI integration to enhance product offerings and production efficiency.
- VinFast Auto Ltd (VFS) plans to expand its manufacturing capacity with new facilities in India and Indonesia, and resume construction of its North Carolina factory in 2026.
- Despite improvements, VinFast Auto Ltd (VFS) reported a negative gross margin of 40% in Q4 2025, though this was an improvement from the previous year.
- The company recorded a net loss of USD 1.4 billion for the quarter, with a net loss margin of 89%, indicating ongoing financial challenges.
- VinFast Auto Ltd (VFS) faces significant capital expenditure requirements, with USD 1.6 billion expected for CapEx and USD 1.4 billion for R&D in 2026.
- The company took a USD 236 million impairment charge related to its North Carolina factory, reflecting project timing and development assumptions.
- VinFast Auto Ltd (VFS) is still working towards achieving a positive gross margin, with profitability not expected in the immediate term.
Good day and thank you for standing by. Welcome to the VinFest Q4 2025 Financial Results and Q&A Webcast. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press *11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press *11 again. If you wish to ask a question via the webcast, please use the Q&A box available on the webcast link anytime during the conference.
Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Amanda Bey, Head of Investor Relations. Please go ahead.
Thank you, operator, and good morning, everyone. Welcome to VinFast Quarterly Earnings Call.
Joining me today are Chairwoman of the Board, Madame Tuilei, Deputy CEO of Investments, Ms. Anh Pham, and our
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