Viettel Global has announced impressive financial results for the first six months of 2024, with a 25% year-over-year increase in revenue from sales and services, reaching VND 16,594 billion. This growth rate is over five times higher than the global telecommunications industry’s average of 4.3%, as reported by Gartner. The company’s pre-tax profit stood at VND 4,740 billion, with a post-tax profit of VND 2,855 billion.
With these results, Viettel Global has achieved ten consecutive quarters of year-over-year revenue growth. Notably, the second quarter of 2024 marked a record high in revenue for the company.
Viettel Global’s impressive growth across all nine markets
All nine of Viettel Global’s markets experienced significant growth during the first half of the year. Lumitel in Burundi led the way with a 31% increase, followed by Unitel in Laos at 27%, Mytel in Myanmar at 24%, Movitel in Mozambique at 23%, and Natcom in Haiti at 18%.
The company’s electronic wallet services also witnessed remarkable expansion, with M_mola in Mozambique growing by 169%, U-money in Laos by 62%, Halopesa in Tanzania by 34%, and Mosan in East Timor by 34%. As of June 2024, the revenue from electronic wallet services reached VND 2,089 billion, contributing 11% to the total revenue. The number of electronic wallet subscribers reached 18.5 million, accounting for 41% of mobile subscribers.
Viettel Global’s electronic wallet services show impressive growth
For the full year, Viettel Global aims to maintain double-digit growth, with traditional telecommunications services growing by over 10% and non-telecommunications services growing by 20-30%. Additionally, the company targets an increase of at least six million subscribers.
In May 2024, Movitel, Viettel Global’s subsidiary in Mozambique, claimed the top market share position, marking the seventh market where Viettel Global has achieved this feat. Currently, Viettel Global is executing a strategy to expand its business horizon, both in depth and breadth.
In terms of depth, Viettel Global aims to maintain its number one position and continue expanding its offerings in existing markets, including Data Center, Cloud, electronic wallet, and digital services that cater to the needs of governments and citizens. As for breadth, Viettel Global will explore new markets to seek investment and business opportunities.
Adapting to the trend, ITL is ready to take off.
Being attuned to global logistics trends is one of the secrets that helps ITL stay on track and shorten the journey towards our goals.
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