“Viettel Construction Experiences a Boom: July Revenue Soars Past $1.1 Billion, Marking an 11% Growth”

Viettel Construction JSC (Viettel Construction – CTR) has announced its July business results, with revenue reaching VND 1,126 billion, an 11% increase compared to the same period in 2023. Pre-tax profit reached VND 57.7 billion, a slight 1% increase year-on-year.

For the first seven months of the year, Viettel Construction is estimated to have achieved over VND 6,777 billion in revenue and VND 363.3 billion in pre-tax profit, an increase of 11% and 4%, respectively, compared to the same period in 2023. With these results, the company has completed 54% of its annual revenue and profit plans.

In the first seven months, all of Viettel Construction’s main business areas recorded double-digit growth, except for operations and exploitation. Notably, the Infrastructure Leasing segment continued to grow the fastest, with revenue increasing by 40% year-on-year to VND 335.5 billion.

As of the end of July, Viettel Construction owned 8,221 BTS stations (maintaining its position as Vietnam’s number one TowerCo); 2.45 million m2 of DAS; 2,716 km of transmission lines; and 16.92 MWp of solar power. A total of 270 BTS stations have two or more tenants. The sharing ratio reached 1.03. In addition, the company has started the project to invest in underground cables along the North-South expressway and the Lien Khuong – Prenn expressway in Lam Dong province.

Operations and Exploitation (VHKT) remained the largest contributor to the company’s revenue in the first seven months, with over VND 3,400 billion, a 4% increase compared to the same period in 2023. The company has installed 12,475 fire extinguishing spheres; 5,503 battery packs for network infrastructure; tested remote generator on and off solutions; and ensured 100% KP/s network and transmission handling for Mytel (Myanmar), MetFone (Cambodia), and other TowerCos…

In terms of Construction , the accumulated B2B project volume reached VND 1,423 billion, an 83% increase compared to the same period in 2023, with notable projects including: Hung Ngan Riverside Hai Phong Urban Area Project (VND 325 billion); Repair and Renovation Project of the Military Headquarters in Vung Tau (VND 27.6 billion); and Brain Nursing Institute in An Giang (VND 21.4 billion)…

For B2C&SME projects, the accumulated volume for the first seven months reached VND 1,249 billion, including VND 832.6 billion (B2C) and VND 335.6 billion (SME). The furniture business brought in VND 80 billion in volume and VND 35 billion in revenue. The coverage rate of constructions by Viettel Construction reached 697 out of 701 districts (equivalent to 99%) and 2,820 out of 10,596 communes (equivalent to 27%).

In the Solutions and Technical Services segment, Viettel Construction has collaborated with the BCG Fund to deploy 10 solar power systems for The Gioi Di Dong stores (nearly VND 5 billion). Accumulated for the first seven months, the company signed contracts for 22 MWP ~ VND 204 billion, with estimated revenue of VND 190 billion. In addition, the company has developed a retail business model combining Online and Door-to-Door, attracting 10,616 subscribers in July 2024 and 375,000 subscribers accumulated in the first seven months.

Viettel Construction has successfully signed a contract for air conditioner maintenance for a system of 400 stores nationwide of Viettel Commerce and Import Export Joint Stock Company. Simultaneously, the company has launched a filter replacement service with AIO-branded filter products, reaching 14,410 filters (VND 1.4 billion).