MWG Joint Stock Company (code: MWG) has just announced its business results for 2024.
Accordingly, revenue for the year reached VND 134,341 billion, up 13.6% compared to 2023, completing 107% of the plan. On average, MWG recorded a revenue of more than VND 368 billion/day.
MWG provided specific details: in 2024, The Gioi Di Dong chain (including Topzone) contributed VND 30,000 billion, while Dien May Xanh contributed VND 59,500 billion, accounting for 22.4% and 30.6% of total revenue, respectively. Online revenue reached nearly VND 8,700 billion, accounting for about 10% of the total revenue of the two chains.
According to MWG’s leadership, in 2024, the retail market for phones remained stagnant and only slightly increased in some refrigeration lines. Despite this, the company achieved notable milestones: higher growth than the market despite operating with 221 fewer stores than at the end of 2023; over 10% growth in revenue from existing stores; positive growth across most product categories, with refrigeration and phones achieving double-digit growth; significant improvement in business efficiency, which became the main pillar contributing to the group’s profits.
Notably, the company signed partnerships with major financial organizations such as Home Credit – offering deferred payment solutions to reduce financial burden on customers and provide more shopping options, and VP Bank – transforming over 3,000 TGDĐ/ĐMX stores into convenient financial service providers for transactions like cash deposits, withdrawals, and transfers. Just one month after implementation, the company recorded transaction values of over VND 1,000 billion with nearly 150,000 transactions…
Bach Hoa Xanh (BHX) recorded 2024 revenue of over VND 41,000 billion, a 30% increase compared to 2023. In Q4/2024 alone, revenue increased by 16% compared to the same period last year.
The online channel served over 3 million successful transactions, contributing more than VND 925 billion, accounting for 2.3% of BHX’s total revenue.
In 2024, despite consumers’ tight spending habits and a slight growth in the consumer goods market, Bach Hoa Xanh achieved impressive milestones: 30-50% growth in fresh food category; 20-35% growth in FMCGs; and over 30% growth in revenue from existing stores.
On average, BHX achieved revenue of VND 2 billion/store, a 29% increase compared to the previous year. As a result, the chain has turned profitable at the company level after more than two years of comprehensive restructuring. This marks a significant milestone for BHX, contributing profits to the group for the first time.
An Khang recorded a revenue of nearly VND 2,300 billion for the year, a 3% increase compared to the previous year.
In 2024, the company closed inefficient stores and focused on increasing revenue per store by reviewing its product portfolio, display strategies, and improving the quality of sales consulting. As a result, in Q4/2024, the average revenue per store increased by 15% compared to the previous two quarters, and losses were significantly reduced compared to the rest of the year. This positive outcome serves as a motivation for the chain to strive for profitability at the company level in 2025.
Additionally, the chain launched the “Tet An Khang – Gui Ngan Binh An” program, aiming to provide free health check-ups and care for individuals in difficult circumstances.
Avakids recorded a revenue of nearly VND 1,200 billion in 2024, a 35% increase compared to the previous year, despite not opening any new stores. The online channel contributed nearly 50% to the chain’s total revenue.
Avakids continues to be the leading retail chain for mother and baby products in Vietnam, with an average revenue of VND 1.8 billion/store at the end of the year. This success is attributed to cost optimization, improved business efficiency per store, and a strong focus on the online channel.
The chain officially achieved profitability at the company level for four consecutive months since September 2024 and aims to maintain this milestone throughout 2025. Avakids also carried out the “AvaKids Smile” program over the years to sponsor surgeries for children with cleft lips and palates.
Erablue also recorded impressive results in 2024, with the EraBlue chain in Indonesia achieving a revenue increase of more than four times compared to the previous year. The average revenue per store was VND 2.8 billion.
Thus, just two years after its establishment in Indonesia with 87 operating stores, thanks to a suitable product portfolio, competitive pricing, an easily accessible model, and optimized costs from the beginning, the chain officially turned profitable at the company level in Q3/2024.
In 2025, the chain will continue to thrive through new store openings and aim for profitability for the entire year.
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