Digiworld Coporation (DGW) has announced its Q4/2023 business results, with a net revenue of VND 4,849 billion and a profit of VND 90 billion.
Thus, in the whole year of 2023, Digiworld recorded a revenue of VND 18,818 billion and a profit of VND 354 billion. The company achieved 94% of its revenue plan and 89% of its annual plan.
Specifically, the Q4/2023 business results for each sector are as follows:
Laptop & Tablets sector: In Q4/2023, this sector recorded a revenue of VND 1,072 billion, decreased by 10% compared to the same period of 2022. With laptop and tablet products, consumers made more purchases in Q3 due to the back-to-school season, leading to a lower spending in Q4. Additionally, in 2023, the difficult economic situation made consumers tighten their spending, resulting in a decrease in demand for device replacement. By the end of 2023, this core sector achieved a total revenue of VND 5,906 billion, exceeding the annual plan by 7%.
Mobile Phones sector: This sector has been a major contributor to Digiworld’s revenue structure over the years. In Q4/2023, the mobile phone sector recorded a revenue of VND 2,204 billion. With the launch of Apple’s highly anticipated product – iPhone 15, Q4 was expected to be the peak quarter with strong growth. However, with the economic difficulties, consumers have become more cautious when buying high-value goods, leading to lower-than-expected consumption. Nevertheless, Digiworld’s Q4 revenue for this sector still achieved a 24% growth compared to both Q3/2023 and the same period of 2022. By the end of 2023, this sector achieved a revenue of VND 8,067 billion, reaching 92% of the annual plan.
Office Equipment sector: The Q4/2023 revenue of this sector reached VND 1,124 billion, a strong growth of 42% compared to the same period and a 24% growth compared to the previous quarter (Q3/2023). Digiworld achieved this growth thanks to the completion of the acquisition of 75% of Achison Company, combining the revenue of labor protective equipment with Digiworld’s revenue. Moreover, at the end of the year, Q4 is the peak period for budget disbursement for projects, so this sector benefits from the main customers who are businesses, state agencies, government, and schools. By the end of 2023, the office equipment sector achieved a revenue of VND 3,441 billion, reaching 90% of the annual plan.
Home Appliances sector: This sector recorded a 31% growth compared to the same period and a 44% growth compared to the previous quarter (Q3) with a revenue of VND 234 billion. This impressive growth is due to the significant contribution from the home appliances of the Whirlpool brand and Xiaomi’s TVs, as these products are increasingly known and chosen by consumers. By the end of 2023, the home appliances sector achieved a revenue of VND 728 billion.
Consumer Goods sector: This sector achieved a revenue of VND 215 billion, a strong growth of 57% compared to the same period of 2022 and a 26% growth compared to the previous quarter. The growth of the consumer goods sector is attributed to the revenue contribution from beer products of AB Inbev and products from the Lotte Chilsung brand, which Digiworld signed at the beginning of 2023. By the end of the year, the consumer goods sector achieved a revenue of VND 676 billion with an impressive growth of 70% compared to 2022.
Despite the general economic downturn in both domestic and global markets in 2023, Digiworld ended the year with impressive two-digit growth in almost all sectors, notably the consumer goods sector with a growth rate of 57%. Additionally, the company achieved a total revenue growth of 19% compared to the same period last year. Furthermore, Digiworld also experienced continuous growth when comparing consecutive quarters in 2023.
These recorded growths come from a significant part of the company’s sustainable development strategy pursued for many years.
Digiworld achieves sustainability through constantly seeking new products, brands, and sectors, diversifying revenue sources, such as the partnership with Xiaomi and Apple for the ICT sector and, closer to home, the inclusion of Whirlpool, Westinghouse, AB Inbev, and Lotte Chilsung to penetrate deeper into the consumer goods sector.
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