Viettel Construction JSC (Viettel Construction – code CTR) has announced its June business results, with revenue exceeding VND 1,045 billion, up 14% compared to the same period in 2023. Profit before tax reached VND 55.9 billion, an increase of 8% compared to June 2023.
For the first six months of the year, Viettel Construction recorded a revenue of VND 5,652 billion and a profit before tax of VND 305.6 billion, an increase of 11% and 5%, respectively, compared to the same period in 2023. With these results, the company has achieved 45% of its annual revenue plan and 46% of its profit target.
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Notably, in the revenue structure, the Construction, Solutions & Technical Services, and Infrastructure Leasing fields all witnessed high growth of 3x% compared to the same period last year. Meanwhile, the Operation & Exploitation sector, which is the largest revenue contributor for Viettel Construction, recorded a slight increase of 2% compared to the first half of last year, reaching VND 2,880 billion.
In the Operation & Exploitation field, Viettel Construction ensures 100% network KPIs and handles transmission incidents for Mytel (Myanmar), MetFone (Cambodia), and other TowerCos. The company has also expanded its fixed broadband network operations in Mandalay, Myanmar (previously operated in Naypyidaw in 2023).
In terms of Infrastructure Leasing, as of June 2024, Viettel Construction owns 7,809 BTS stations (maintaining its position as the leading TowerCo in Vietnam); 2.45 million m2 of DAS; 2,716 km of transmission lines; and 16.92 MWp of solar energy. A total of 255 BTS stations are leased to more than one telecom operator, with a sharing ratio of 1.03. Viettel Construction has also been granted a permit to construct a high-speed underground cable system in Lam Dong province, spanning approximately 19.5 km.
In the Construction field, Viettel Construction recorded a telecommunication construction revenue of VND 213 billion in the first six months, maintaining a monthly average of VND 36 billion. The total workload reached VND 422 billion, an increase of 38% compared to the same period in 2023. Notable contracts signed with Viettel Networks include: Providing 4G network expansion and radio equipment installation services (VND 277 billion), Investing in fixed broadband network infrastructure expansion (VND 69 billion), and Investing in optical fiber network infrastructure expansion in 2024 (VND 21 billion).
In the field of civil construction, the cumulative workload of B2B projects, such as CDC Land’s Urban Subdivision 5A project, Casa Del Rio – Trung Minh A, and Gem Sky World – Dat Xanh, reached VND 1,086 billion, an increase of 73.6% compared to the same period in 2023. For B2C&SME projects, the cumulative workload reached VND 1,193 billion, a growth of 62% compared to the same period in 2023. The coverage rate of constructions built by Viettel Construction stands at 697 out of 701 districts (equivalent to 99%) and 2,815 out of 10,596 communes (equivalent to 27%)
In terms of public investment, Viettel Construction won bids for VND 200 billion worth of construction projects funded by public investment capital, an increase of 2.5 times compared to the previous year. The bid-winning rate was 26%. Notable projects include the renovation and repair of the Military Headquarters in Vung Tau; construction and renovation of Tax Departments in Soc Trang, Son La, Dien Bien, and Khanh Hoa; and school and medical station projects in Hai Phong and Binh Duong provinces. In addition, the company also constructed 500KV transmission line towers in Nam Dinh, Thai Binh, and Thanh Hoa provinces.
In the Solutions & Technical Services field, in the first six months of the year, Viettel Construction signed contracts for 14 MWP of solar energy projects, worth approximately VND 150 billion, an increase of 375% compared to the same period in 2023. Notable projects include Yamaha (1.25 MWp), Bao Bi Bien Hoa (0.8 MWp), May Bac Giang (1 MWp), and Buwon Vina (1 MWp).
In the ME&ICT field, Viettel Construction executed the electrical and mechanical works for the Namia Cồn Ba Xã project in Quang Nam province; supplied tablets to the Department of Education and Training of Kon Tum province; executed electrical works for Hana E&C in Thai Binh province; and provided and installed IT equipment and tablets for administrative units in Thanh Hoa, Thua Thien Hue, Nghe An, Ha Nam, and Bac Kan provinces. Additionally, the company developed a retail business model combining Online and Door-to-Door services, attracting 10,500 subscribers in June 2024 and 370,500 subscribers cumulatively since the beginning of the year.
For the full year of 2024, Viettel Construction aims to achieve a total revenue of VND 11,653 billion, an increase of 11% compared to 2023. Profit before and after tax are expected to reach VND 671.4 billion and VND 531.7 billion, respectively, representing growth of 4.1% and 3.1% compared to the previous year. If these goals are met, Viettel Construction will break its profit record.
