The company reported 1.2 billion USD in revenue for fiscal year2023, representing an increase of 91% from 2022. Gross loss was 174.9 million USDin Q4/2023, and 551.6 million USD in FY 2023.
VinFast’s gross profit margin showed significant improvementcompared to the previous fiscal year. Gross margin was negative (46%) in FY2023, compared to negative (82%) in FY 2022. In the fourth quarter of 2023,gross margin reached negative (40.1%), compared to negative (82.6%) in thefourth quarter of 2022.
Le Thi Thu Thuy, Chairwoman of the Board of Directors, said 2023was a whirlwind of first for VinFast, culminating in a strong public debut.They launched exciting new products, expanded their distribution network, andsolidified their presence in existing markets while opening doors to promisingnew ones. These moves laid a strong foundation for 2024 to be a year of globalexpansion and cost optimisation.
VinFast delivered a total of 34,855 electric vehicles in FY 2023,marking a 374% increase compared to the previous year. This included 13,513electric vehicles in the Q4, up 35% from the third quarter of 2023.
Despite a slight decrease in Q4/2023 compared to the thirdquarter, e-scooter deliveries also saw significant growth of 48% year-on-yearfor a total of 72,468 units in 2023./.