“Họ Viettel” Earns Over 1.7 Trillion in First Two Months

Viettel Construction Joint Stock Corporation (CTI) recorded contrasting growth in revenue and profit in February 2024. In total, CTR's revenue for the first two months surpassed 1,700 billion VND, marking a 9% increase compared to the same period last year.

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Photo: CTR

Viettel Construction has just announced its preliminary business results for February 2024 with a revenue of VND 834.4 billion, up 4% compared to the same period last year. However, pre-tax profit fell 4% to VND 44.6 billion.

The company said that despite the prolonged Lunar New Year holiday, in February 2024, CTR has implemented many projects such as the Infrastructure Investment for BTS Leasing in 2024 with a total investment of over VND 1.460 trillion; signed construction projects (Bach Viet Land VND 32 billion, Cau May Sapa Resort VND 15 billion…).

Accumulated revenue in the first two months of the year, CTR is estimated to reach VND 1.703 trillion and pre-tax profit of VND 94.3 billion, increasing by 9% and 6% respectively compared to the same period. This result helps the company achieve 13% of the revenue target and 14% of the profit target for the year.

Looking at each sector, the operational revenue continues to lead, contributing VND 905 billion, up 3% and accounting for more than 53% of the total; followed by construction revenue of VND 490 billion (up 9%); revenue from solutions and technical services reached VND 213 billion (up 37%). Infrastructure rental revenue was only over VND 88 billion, but it is the sector with the highest growth rate (+43%).

Prior to that, the 2023 revenue and pre-tax profit of Viettel Construction were both the highest levels in its history, reaching VND 11.299 trillion and VND 645 billion, respectively, an increase of 19% and 13% compared to the previous year. In the 5-year period (from 2019-2023), the compound annual growth rate of revenue reached 22% and the compound annual growth rate of pre-tax profit reached 33.5%.

In the stock market, CTR stock price reached its all-time high, closing at VND 118,500 per share on March 15, 2024, an increase of over 30% compared to the beginning of the year. Market capitalization exceeded VND 13,500 billion, more than double that of the previous year.

Price performance of CTR stock over the past year

Strong Points

SOURCEvietstock
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