A M ATA V N FINANCIAL RESULTS

FOR THE YEAR ENDED DEC 31, 2022

MAR 1, 2023
PUBLIC COMPANY LIMITED
DISCLAIMER

This document was prepared by Amata VN Public Company Limited in good faith upon
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Company Limited.

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FINANCIAL PERFORMANCE RESULT FOR THE PERIOD ENDED
DECEMBER 31, 2022

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PRESENTATION

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 VIETNAM OUTLOOK

A M ATA V N

Y E 2 0 2 2 F I N A N C I A L R E S U LT S

APPENDIX

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VIETNAM GDP 2022
GDP growth: Q4 (%)

8.02%
7.1 6.8
5.8 5.6 5.9

1.8

GDP growth – 2022

Q4-17 Q4-18 Q4-19 Q4-20 Q4-21 Q4-22

Services
9.99% GDP growth 2017 – 2022 (%)
8.0
6.9 7.1 7.0
Manufacturing
8.10%
2.9 2.6

Construction
8.17%
2017 2018 2019 2020 2021 2022

Agriculture • 2022 Vietnam GDP growth of 8.02% is the highest

3.36% since 2011, exceeding the National Assembly’s target
of 6-6.5%, backed by strong domestic retail sales and
exports.
• 2023 GDP is forecasted around 6.5%

Source: Vietnam GSO (General statistics office)

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FOREIGN DIRECT INVESTMENT (FDI) OF 2022

FDI RECORD ($bn) YEARLY

27.72 36 38
35
29 31
28
$bn

-11% vs same
period 2021

2,036 22.39$bn 2017 2018 2019 2020 2021 2022

• Total amount of FDI dropped down 11% compared with

New projects Implemented previous 2021 (coming mainly from the decrease of new
project).
(81%) • FDI fall back in Oct, showing the difficult time under the global
impact.

Source: Vietnam MPI (Ministry of planning and investment)

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FOREIGN DIRECT INVESTMENT IN 2022 (1)
Taiwan
2021
Singapore
OTHERS
1.35$bn
Retail
Hongkong
(5%) 6.46$bn 11%
OTHERS (23%) 5%
Real Estate
2.22$bn 8%

58%
(8%)
Netherlands Korea
Electricity 18%
Manufacturing
0.70$bn 4.88$bn
(3%)
(18%)
Japan
Denmark
China
4.78 $bn 2022
(17%)
1.32$bn
2.52$bn (5%)
(9%) OTHERS

19%
Singapore, Korea and Japan are 3 key investors in Vietnam Electricity
8%
in 2022. However, FDI flow from Singapore fell down 37%
compared to 2021, while Japan increased 23% year on Retail 4%
61%
year.
16%
Manufacturing
Real Estate

Source: Vietnam MPI (Ministry of planning and investment)

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FOREIGN DIRECT INVESTMENT IN 2022 (2)
Existing investors
TOP LEADING PROVINCES
Major Amount
NORTH Country Project Province
Investors (mn$)
OTHERS
Lego Denmark Toys Binh Duong 1320
Ho Chi Minh 3.9 Fujifilm (+494 $mil)
VSIP Singapore VSIP Bac Ninh Bac Ninh 941
FDI amount ($bn)

- Township
Binh Duong 3.1 Lego (1,320 $mil)
Samsung Thai 1,227
Samsung Korea Electromechanics Nguyen
Quang Ninh 2.4
Samsung GE HCM 841
VSIP Bac Ninh (+941 $mil)
Bac Ninh 2.2 Fujifilm Japan Electronics HCM 494
Goertek Bac Ninh (+306 $mil)
Bac Ninh 306
Hai Phong 2.0 Goertek Taiwan Electronics
Nghe An 387

Ha Noi 1.7 Increased capital

FDI amount by Region ($bn)

Thai Nguyen 1.5 Samsung (+920 $mil)
12.5 FY2021 FY2022
10.6 10.2
8.9
Dong Nai 1.3
5.6
3.5
2.2 1.4 1.9 1.5
Bac Giang 1.2 Foxconn / Ja Solar 0.6 0.0

Northern Red river delta North central & Central Southeast Mekong Delta
Ba Ria - Vung Tau 1.0 midland Central coast Highlands
&mountainous

▪ HCM ranked 1st in total new projects recruited (893 – 44% of ▪ Red river delta region recruited most FDI capital in Nov 2022, currently is the
total projects). leading region.

Source: Vietnam MPI (Ministry of planning and investment)

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TOTAL TRADE IN 2022
Vs 2021 Export = 371.1 $bn
+9.5% 74%
729.7
(FDI)

$bn
Import = 358.5 $bn
Import & Export Value (2022)
Trade surplus = 11.2 $bn (FDI) 65%
VIETNAM TRADE VALUE THAILAND TRADE VALUE
Import Export Total 730 Import Export Total
669 592
539
544 493
516 457 458 436
483 CAGR 9.4% CAGR 4.4%
425
359 371 305 287
332 336
251 264 249 268 271
238 245 253 263 262 282 229 209
243
211 214 206 193

2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 2021 2022

Source: Vietnam Customs Dept, Tradingeconomics, Oec.world and Bangkokpost

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ECONOMICS OVERVIEW
Vietnam’s rising consuming class
2
4 18 Figure 1: Population by income group
1 (daily spending) (Unit: millions)
1 14
5 36
Higher consuming class
(>$70/day)
57 Established consuming class
($30-70/day)
74 72 Entry-Level consuming class
58 ($11-30/day)
27 Below consuming class
(<$11/day)
2000 2010 2020 2030

• Vietnam’s consumption is expected to expand and define the future as incomes rise.
• Vietnam is well positioned to be a significant driver of the world’s consumption
growth.
• New consumption power is emerging; the two highest tiers of the consuming class
(those spending $30 or more per day) are growing the fastest and may account for
20% of Vietnam’s population by 2030.
Source: Mckinsey Global Institute analysis
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NEWS
Vietnam to have 16 more railway
lines by 2030
• Vietnam’s railway network planning
expects to have 16 new national lines with
a total length of about 4,802km by 2030 to
strengthen regional economic
development.
• Top priority is the North-South high-speed
railway project which will have big socio-
economic influence, promoting the
development.
• 7 existing lines will also be upgraded;
whose total length amounts to 2,440km.
• By 2050, the number of new rail lines will
be 25, which together are 6,354km long.
Source: Vnexpress, Vietnamnet and Theaseanpost
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ECONOMICS OVERVIEW
Vietnam’s interest rate
• State Bank of Vietnam (SBV), after the Fed’s decision to raise its benchmark interest rate by
only 25 basis points, analysts forecast the SBV may adopt a wait-and-see approach until the
end of Q1/2023 before making the next interest rate hike.
• The SBV last year had to increase its policy rates twice with 100 basis points each consecutively
in September and October due to the weakening of the dong after the Fed’s sharp rate hike and
inflation risks. The rediscount rate was raised from 2.5% to 4.5% p.a. and the refinancing rate
was increased from 4% to 6%.
• Currently, Vietnam’s saving deposit rate is around 6-8.5% p.a. while loan interest rate is 11-12%
p.a.

Source: Thestar and Vietnamnews

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 VIETNAM OUTLOOK

A M ATA V N

Y E 2 0 2 2 F I N A N C I A L R E S U LT S

APPENDIX

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KEY MILESTONES

• Received Investment Established 2 new

• Initial Investment in Certificate for 669 Rai subsidiaries Amata
Vietnam Group Service Township Project Service City Long
• Established Amata restructuring and ACLT Thanh 1 and Amata
(Vietnam) Joint establishment of • Received Investment Service City Long
Certificate for 4,706 Rai Thanh 2 First capital injection
Stock Company Amata VN Public
Mega Township Project for Quan Tri Project
and received Company Limited
under ATLT for 0.64 MUSD (out
Investment of 2.4 MUSD)
Certificate to
develop first
625 Rai

2007 2015 2018 2021

1994 2012 2016 2019 2022

Received Investment
Certificate for Amata
Commercial Complex
with total area of
119.19 Rai
• Received 1st Investment Received Investment • Received Investment
Certificate for 2,563 Rai Certificate for Certificate for Quang Tri
Hi-tech Industrial Estate 4,463 Rai 1st phase Industrial Park , a JV with
under ACLT of Amata City VSIP, Sumitomo, and ACBH
• IPO and listing on the Stock Halong (ACHL) • First sales of ACHL
Exchange of Thailand

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AMATA IN VIETNAM

HANOI
AMATA CITY HALONG
Quang Ninh Province
36,238Rai (IRC 4,463Rai) TENANTS
~200
Established in 2018

QUANG TRI (On Process)

INDUSTRIAL PARK
Quan Tri Province LABOR
~62,000
625Rai - Established in 2021 POPULATION

AMATA CITY&TOWNSHIP

28
AMATA CITY BIEN HOA LONG THANH
Dong Nai Province
Dong Nai Province
7,938Rai (IRC 2,563Rai - IP)
4,375Rai (IRC 3,206Rai) -
Established in 2015
Established in 1994

HO CHI
MINH YEARS OF
Note: EXPERIENCES IN
- 1 ha = 6.25 Rai = 0.01 sq.km = 10,000 sqm VIETNAM
- IRC = Investment Registration Certificate

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GROUP SHAREHOLDING STRUCTURE
T H A I L A N D
AMATA
CORP
73%

AMATA
VN

V I E T N A M
90%
AMATA
CITY BIEN HOA
[ACBH]
65% 35% 66% 34% 100%

INDUSTRIAL PARK 93.5% HIGH TECH 93.4%

AMATA AMATA AMATA
INDUSTRIAL PARK
TOWNSHIP
COMMERCIAL CITY LONGTHANH LONGTHANH CITY HALONG
AREA [ACLT] [ATLT] [ACHL]

MEGA INDUSTRIAL PARK

TOWNSHIP
51% 51%
AMATA SERVICE AMATA SERVICE
CITY LONG THANH 1 CITY LONG THANH 2
[ASCLT1] [ASCLT2]

SERVICE SERVICE
TOWNSHIP TOWNSHIP

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 VIETNAM OUTLOOK

A M ATA V N

Y E 2 0 2 2 F I N A N C I A L R E S U LT S

APPENDIX

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SUMMARY OF 2022 FINANCIAL RESULTS

▪ Sold 24 RBFs in 2022

▪ 44.56 Rai (7.13 Ha) real estate sales (Jinko 3)
▪ Utilities and services revenue significantly increased as a result of
land sales in the north project (ACHL).
▪ Rental revenue dropped due to 32 RBFs sales during 4Q21-
3Q22
▪ 8 RBFs were sold in 2021
▪ 24 RBFs were sold in 2022

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FINANCIAL PERFORMANCE
Unit: MTHB YE21 YE22 % change
Revenue from real estate sales 1,068.7 203.8 -80.9
Revenue from utility services 223.1 994.5 +345.8
Revenue from rental 266.2 100.0 -62.4
Gains on sales of investment property 449.9 1,331.7 +196
Gains on exchange 168.5 28.0 -83.4
Other income 13.4 22.6 +68.8
Total revenues 2,189.8 2,680.6 +22.4
Cost of real estate sales (801.4) (119.3) +85.1
Cost of utility services (151.0) (869.1) -475.5
Cost of rental (66.2) (21.6) +67.5
Gross profits 1,171.1 1,670.7 +42.7
Selling and administrative expenses (166.4) (202.2) -21.5
EBIT 1,004.7 1,468.5 +46.2
Share of profit(loss) from investments in associate - (2.5) NA
Finance Income 37.1 83.3 +124.5
Finance cost (152.7) (152.4) +0.2
Profit before income tax expenses 889.1 1,397.0 +57.1
Income tax expenses (144.4) (227.0) -57.3
Net profits 744.8 1,170.0 +57.1

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REVENUE BREAKDOWN BY BUSINESS TYPE
Revenue (MTHB)
Utility Services 2,681
Rental 51
Real Estate Sales
RBF Sales 2,190
Others 182
1,332
450

32
1,171 1,171
40 204
42 74 1,069 100
642 608 58 710
11 507
120 62 - 994
236 234 247 29 247 266
219 214 223 219 223
2017 2018 2019 2020 2021 YE-22
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OPERATING PERFORMANCE
Revenue (MTHB) REAL ESTATE MARGIN
Utility Services Rental 2,681 UNIT: MTHB
Real Estate Sales RBF Sales 51 78%
67%
Others 2,190
182 41%
1,332 25%
450 124.4 Rai 0%
1,171 1,171 (19.9 Ha)
32 40 204 321.9 Rai
42 74 710 1,069 100 (51.5 Ha)
44.6 Rai
608 58 11 507
642 12.5 Rai
120 62 - 994 409 (2.0 Ha) (7.13 Ha)
236 234 247 29 247 266 267
219 214 223 219 223 48 - 85
2017 2018 2019 2020 2021 YE-22 2018 2019 2020 2021 YE-22

RENTAL MARGIN UTILITIY & SERVICES MARGIN

UNIT: MTHB UNIT: MTHB
75% 78%
68% 69% 70% 29% 32% 32%
26%
13%

160 170 173 200

125
78 56 65 70 72
2018 2019 2020 2021 YE-22 2018 2019 2020 2021 YE-22
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OPERATING RESULTS SUMMARY

REVENUE OPERATING INCOME (EBIT)

Unit: MTHB Unit: MTHB
2,681 1,468
2,190
1,005

1,171 1,171
548
710
507 322
152 116

2017 2018 2019 2020 2021 YE-22 2017 2018 2019 2020 2021 YE-22

NET PROFIT AFTER MI EARNING PER SHARE

Unit: MTHB Unit: THB
1,046

1.12
686
0.73
369
0.40
176 0.19
2 0.00

2017 2018 2019 2020 2021 YE-22 2017 2018 2019 2020 2021 YE-22
(30) (0.03)
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BALANCE SHEET Unit: MTHB Unit: Times
Assets Liabilities & Shareholders' Equity
Current Ratio
Working capital assets Other Liabilities
Prepayment for land use rights Working capital liabilities 2.1
Real estate Development cost 12,434 Interest bearing debt 12,434
Fixed assets & Investment 11,847 Lease Liabilities 11,847 15 1.0 1.0
Other assets Loan from parent 0.7
1,398 14
Shareholders' equity
2,043
2,501 1,975 2019 2020 2021 YE22

D/E Ratio
3,470
7,821 7,821
7,539 7,539 13 3,990 1.7
697 13 604 1.6
959 8,054 607 1.4
1.1
426
450
7,242 377
3,729 3,616 450 2019 2020 2021 YE22

4,117 5,196
Interest Bearing
271 Debt to Equity
300 450 6,031
1,035 5,041 1.3 1.3
771
950 1,006 2,890 2,866
0.8
0.6
1,410
1,613 719
862
79 116 379 537
2019 2020 2021 YE22
2019 2020 2021 YE22 2019 2020 2021 YE22
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CASH FLOW STATEMENT
Unit: MTHB

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 VIETNAM OUTLOOK

A M ATA V N

Y E 2 0 2 2 F I N A N C I A L R E S U LT S

APPENDIX

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CUSTOMER PROFILE
B Y I N D U S T RY BA N AT I O N A LI T Y
Machinery, steel, metal, plastic, rubber Japan
Textile, garment Taiwan
Chemical, paints
South Korea
Electric, electronic devices
Vietnam
Packaging, printing
USA
Beverage, food processing
5% Singapore
Comsumer products, health care 2%
Wood, furniture 2% 1%
11%
4%2% % China
2%
1%
1%
Logistics, service, infrastructure 3% Thailand
5%
2% Germany
Others 4%
6% 39%
42% France
5%
6% Switzerland
India
9%
8% Austrialia
Malaysia
12% 11%
13% Saudi Arabia
13%
Netherlands

As of 31 Dec 2020

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AMATA CITY BIEN HOA

Highway No. 1 1 0 km

Bien Hoa City 2 5 km

Long Thanh
International Airport 3 20 km
2

4
4,375
6
Ho Chi Minh City 30 km

RAIS
Cat Lai Port 5 33 km
4

194
3
5

TENANTS
Tan Son Nhat Airport 6 35 km

62,000 LABOR
POPULATION
Cai Mep Port 7 50 km
CAI MEP PORT
7

Vung Tau Port 8 65 km

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AMATA CITY & TOWNSHIP LONG THANH

2,563 RAIS
Hi-Tech Industrial park

Hi-Tech Industrial park

Located close to the future airline hub in the southern region, Long Thanh New International Airport, and along the
highway to Ho Chi Minh City, Amata City Long Thanh enjoys the best location for both commercial and industrial land
where future demand can be expected.

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AMATA CITY HALONG

4,463 RAIS
Industrial Park
1st phase

Latest project in QUANG NINH

QUANG YEN ECONOMIC ZONE
Enjoy the maximum tax incentive in Vietnam with optimal access
to the social infrastructure for factory operation.

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 FOR MORE INFORMATION

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TEL: (+66)2-792-0000 EXT. 190
AMATAVN.IR@AMATA.COM
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