Viettel Global shines in Q4 2023

Viettel Global - VGI, the consolidated subsidiary of Viettel International Investment Corporation (Viettel Global), has recently announced its consolidated business performance for the fourth quarter of 2023. The company achieved record-breaking cumulative revenue from sales and service provision, as well as pre-tax profits for the entire year of 2023.

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The consolidated total revenue of Viettel Global in the fourth quarter of 2023 increased by nearly 35% compared to the same period in the fourth quarter of 2022, in which revenue from sales and provision of services increased by 25% due to the good growth of most markets (Movitel in Mozambique increased by 25%, Natcom in Haiti increased by 18%, Mytel in Myanmar increased by 55%; Telemor in East Timor increased by 15%, Metfone in Cambodia increased by 11%). Therefore, the revenue from the core business services of Viettel Global has been continuously growing for 4 quarters compared to the same period last year from the fourth quarter of 2022 until now.

The Fourth Quarter 2023 also witnessed impressive growth of E-wallet companies such as M_mola (Mozambique) increased by 330%, Starfintech (Laos) increased by 126%, Telemor Fintech (East Timor) increased by 109%, Halopesa (Tanzania) increased by 29%, and Emoney (Cambodia) increased by 19%.

Especially, Viettel Haiti has excellently emerged as the leading mobile telecommunications market share in the domestic market, bringing the total cumulative 6 markets of Viettel to the number 1 position in terms of market share.

Viettel Global achieved 1,297 billion VND of pre-tax profit and over 700 billion VND of after-tax profit in the fourth quarter of 2023. The gross profit margin of Viettel Global in the fourth quarter of 2023 reached a high level of 55%, compared to 43% in the same period of the previous year.

Therefore, Viettel Global ended the year 2023 with sales revenue and provision of services reaching over 28,000 billion VND, an increase of 19% compared to 2022. The consolidated pre-tax profit for the full year 2023 of Viettel Global reached over 3,600 billion VND, an increase of 19% compared to the same period. Consolidated after-tax profit reached 1,485 billion VND. The gross profit margin for the entire year exceeded 50%.

The consolidated total assets for the year 2023 of the Corporation reached nearly 53,000 billion VND, an increase of over 2,000 billion VND equivalent to 4.4% compared to the beginning of the year, of which the owner’s capital increased by 1,259 billion VND.

SOURCEvietstock
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