According to a report by Vietcap Securities, 2025 is poised to be a pivotal year for MWG, with consolidated revenue projected to reach VND 157.818 trillion, a 17% increase compared to 2024. The primary growth driver is the electronics segment, expected to grow by 15%, alongside the activation of 700 new Bach Hoa Xanh (BHX) stores. Consequently, 2025’s post-tax profit is estimated at VND 6.559 trillion, a 77% surge from the previous year.
Moving into 2026, the growth momentum is anticipated to continue as MWG plans to open an additional 800 BHX stores, bringing the total to approximately 3,270 nationwide outlets. Vietcap forecasts 2026 revenue at VND 188.499 trillion, a 19% increase, with post-tax profit potentially reaching VND 8.531 trillion, a 30% rise from 2025’s peak.
The two core segments, The Gioi Di Dong (TGDD) and Dien May Xanh (DMX), are expected to maintain steady growth, with revenue projected to increase by 8–12% annually, driven by demand for device upgrades and expanded after-sales services.
The most significant growth driver is forecasted to be Bach Hoa Xanh, with revenue growth exceeding 40%. Net profit is also set to rise from VND 806 billion to VND 1.9 trillion in 2026, fueled by 750 out of 800 new stores and an 8% same-store sales growth (SSSG) in 2025/2026, alongside an expansion in net profit margin from 1.5% to 2.6%.
MWG’s gross profit margin is also expected to improve from 20.3% in 2025 to 20.8% in 2026, driven by cost optimization and increasing contributions from financial services, warranties, installment plans, and after-sales services.
Vietcap highlights MWG’s strategic shift from growth driven by store count to growth focused on service quality and operational efficiency. The recovery of BHX and the expansion of the EraBlue chain in Indonesia are identified as key strategic initiatives for the upcoming period.
Long-term, MWG aims to double the net profit of TGDD and DMX between 2025 and 2030, while targeting an IPO for the Bach Hoa Xanh chain by 2028, solidifying its leadership in Vietnam’s multi-platform retail race.
From 2025 to 2030, Vietcap projects BHX store count to surge from 2,500 to 6,000, corresponding to a 26% revenue CAGR, while net profit margin is expected to improve from 1.5% to 2.8%.
September Revenue for The Gioi Di Dong and Dien May Xanh Surges 21% Driven by iPhone and Laptop Sales
Over the first nine months, the combined revenue of The Gioi Di Dong (TGDD) and Dien May Xanh (DMX) chains surged by VND 9.2 trillion, more than doubling the annual target of VND 4 trillion.
The Wager of Nguyen Duc Tai: Transforming a Math-IT Master’s Graduate into a ‘Zero-Salary’ CEO of Bach Hoa Xanh and the Data Secret Behind Its Miraculous Turnaround
Looking back to April 2023, MWG’s appointment of Mr. Phạm Văn Trọng, a Master of Mathematics and Computer Science, as Acting CEO of Bách Hóa Xanh signaled a strategic shift. This move marked a pivotal step in the restructuring initiated in late 2021, cementing the retailer’s future as one driven by algorithms and data.
Win Exclusive PRO Gifts at Vietcap When You Purchase VPBankS IPO Shares
Vietcap Securities Corporation (Vietcap), the exclusive distribution agent for VP Bank Corporation’s (VPBankS) IPO shares, is launching a series of attractive promotions for investors registering to purchase IPO stocks.
Building a Solid Foundation for Long-Term Growth: Phát Đạt’s Strategic Priority
Anticipated Q3/2025 business results indicate that Phat Dat Real Estate Development Corporation (HOSE: PDR) is beginning to accelerate. While the pace isn’t as rapid as market pressures or Phat Dat’s own expectations demand, it clearly reflects the sustainability of the company’s long-term strategic plan.
World Mobile Group’s Market Cap Hits Record High: Expectations Soar for Bach Hoa Xanh and E-Commerce Expansion
MWG stock, representing The Gioi Di Dong (Mobile World), surged as the retail giant, led by Nguyen Duc Tai, unveiled new initiatives to fuel growth. This move comes as the company seeks fresh momentum in a competitive market.
