•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Novaland Group (NVL) has set targets for 2026 revenue of 22,715 billion VND and after-tax profit of 1,852 billion VND, according to materials for its upcoming 2026 annual general meeting. The plan implies revenue growth of more than threefold compared with 2025 results, while profit is expected to decline by 0.5% versus 2025.
Novaland will hold its 2026 annual general meeting on April 23 at Clubhouse - NovaWorld Phan Thiet Golf Club. The company’s 2026 targets include:
Management said projects actively under construction and scheduled for handover in 2026 include Aqua City, NovaWorld Phan Thiet, NovaWorld Ho Tram, The Grand Manhattan, Victoria Village, and Palm City.
The company also plans to hand over certificates for Sunrise Riverside, Kingston Residence, The Sun Avenue, Lucky Palace, Sunrise City, Orchard Garden, Palm City, Tresor, Golden Mansion, and Garden Gate.
In 2025, Novaland reported net revenue of nearly 7,000 billion VND, down 23% from 2024. Net profit after tax was 1,861 billion VND, compared with a loss of about 4,400 billion VND in the prior year.
On dividends, Novaland stated it does not plan to pay dividends for 2025 and 2026.
Regarding share issuance, the company said the 2025 plan did not include a private share issuance or a debt-for-equity swap, both of which were previously approved by shareholders. The board is therefore proposing that the 2026 AGM approve continuing to implement and adjust these plans.
For the private placement, Novaland said it is seeking long-term investors that are suitably aligned. The private placement volume would be capped at a maximum of 800 million shares, compared with the previously planned 350 million shares.
The issuance price would not be lower than the 30-trading-day average closing price of NVL. The price could be reduced if events lead to price adjustments; under the old plan, the price was set at 10,000 VND per share.
The company said the rationale for increasing the private placement size is based on current stock market conditions and financial circumstances to maximize shareholder value.
On the debt swap plan, Novaland stated it has not reached agreement with bondholders and therefore cannot proceed.
On governance, the 2026 AGM will dismiss three board members: Chairman Bùi Thành Nhơn and two independent directors, Phạm Tiến Vân and Hoàng Đức Hùng. The board will be reorganized to five members, including one independent director.
The AGM will elect two new board members and one independent director. The remaining two board members, Dương Văn Bắc and Phạm Thị Hồng Nhung, will continue their terms.
The AGM agenda and related governance changes are subject to approval by NVL shareholders.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
