Viettel Global’s Q4 financial report showcases impressive performance, with a 27% year-over-year increase in sales and service revenue, reaching VND 9,640 billion. The company’s consolidated after-tax profit soared to VND 3,710 billion, the highest ever, marking a remarkable 4.3-fold increase compared to Q4 2023. This consistent growth trend has been maintained for 5 consecutive quarters, with the 12th consecutive quarter of expansion.
For the full year 2024, Viettel Global achieved a remarkable 25% growth rate, nearly six times higher than the global telecommunications growth rate of 4.1%, as per Gartner, a leading information technology research and advisory company.
All of Viettel Global’s markets experienced robust growth in sales and service revenue during Q4, with standout performances from Lumitel in Burundi, increasing by 80%, Halotel in Tanzania with a 32% jump, and Natcom in Haiti, surging by 28%.
Despite economic challenges and telecommunications market saturation in Laos, Viettel maintained a remarkable 32% growth rate by expanding into new services, particularly in the digital transformation arena. Q4 also marked the official launch of 5G services by Viettel in Laos.
Viettel Global’s strategic focus on digital transformation has proven successful, positioning the company as a pioneer in shaping the digital society in its investment countries. The electronic wallet companies under Viettel Global’s umbrella have consistently achieved impressive growth in revenue compared to the previous year. In Q4, Lumicash in Burundi led the way with a 70% increase, followed by eMoney in Cambodia (56%), Halopesa in Tanzania (43%), U-money in Laos (36%), and e-Mola in Mozambique (32%).
2024 presented numerous challenges for Viettel Global, yet the company persevered and maintained its strong growth trajectory. Viettel Global’s value continued to rise, surpassing a market capitalization of USD 10 billion and securing its place among the largest capitalized enterprises on the Vietnamese stock market.
Viettel Mozambique’s remarkable performance in 2024 propelled it to the number one position in mobile subscribers, electronic wallet subscribers, and mobile revenue. Cumulatively, Viettel Global dominates the market share in 7 of its operating markets.
In recognition of its outstanding achievements and contributions, Viettel Global was honored with 6 Labor Orders and Certificates of Merit from the governments of Vietnam and its partner countries during Q4. These accolades testify to the company’s unwavering dedication to driving economic integration and promoting Vietnam’s culture and people globally.
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