Dien May Xanh posts over $40,000 profit per hour in Q1

April 23, 2026 | 17:39

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Dien May Xanh, Vietnam’s leading consumer electronics and home appliance retailer, recorded average profits of more than $40,000 per hour in the first quarter, as it accelerates ecosystem expansion ahead of a planned IPO this year.

Dien May Xanh posts over $40,000 profit per hour in Q1

Photo: thoibaotaichinh.vn

According to its latest financial report, the company posted revenue of over VND32.61 trillion ($1.3 billion) in the first three months of the year, up nearly 30 per cent on-year.

Net profit reached approximately $88.2 million, almost 1.5 times higher than the same period last year. This translates into average daily earnings of more than $980,000, or over $40,000 per hour. Net profit margin also improved to 6.8 per cent.

Growth was driven by multiple segments. Topzone recorded the fastest expansion with a 42 per cent increase, followed by The Gioi Di Dong (Mobile World) at 34 per cent and Dien May Xanh at over 30 per cent. By product category, mobile phones surged 65 per cent, while home appliances and refrigerators both rose by around 45 per cent.

By the end of the first quarter, the group maintained a network of 2,006 Dien May Xanh stores, 929 The Gioi Di Dong outlets, and 85 Topzone stores, unchanged from the beginning of the year.

Overseas, the EraBlue joint venture in Indonesia generated revenue of around $57 million. Average revenue per store in this market was 1.5 to 2.6 times higher than comparable domestic models. The chain currently operates 212 outlets and targets doubling this figure by 2027 and reaching around 1,000 stores by 2030.

For 2026, Dien May Xanh targets revenue of approximately $4.9 billion and net profit of $294 million, representing increases of nearly 12 per cent and 27 per cent, respectively, compared to 2025.

The company also plans to launch an IPO this year, subject to regulatory approval. It aims to offer up to 179.5 million shares, equivalent to 16.3 per cent of its charter capital. The offering price is expected to be no lower than $0.65 per share, with proceeds to be used to repay short-term borrowings.