Viettel Global posted revenue of nearly $500 million in the first half of 2022

Viettel Global has announced its consolidated interim business results which were reviewed by Deloitte Vietnam.

Compared with the independent financial statements, there are no significant changes in the review results.

In the first half of 2022, Viettel Global generated about $480 million in consolidated revenue, up 19 per cent compared to nearly $405.5 million in the same period last year.

Viettel Global saw a sharp increase in revenue while it recorded a slight increase of only $4.26 million in cost of goods. As a result, its gross profit climbed by almost one and a half times, from $151.55 million to $224.55 million. Gross profit margin over revenue reached nearly 47 per cent.

In terms of the markets where Viettel Global invests and consolidates revenue, the African region continued its strong growth with a contribution of $204.9 million. Southeast Asia's revenue in the first half of this year was $215.6 million and Latin America reached $60.19 million, up 15 per cent and 10 per cent, respectively.

Viettel Global is in a favourable financial position thanks to the strong growth of associated companies (not consolidating revenue) in the Laotian and Myanmar markets. Figures from financial statements show that in the first six months of the year, profits from joint ventures and associated companies rose by more than $85 million over the same period.

According to Viettel Global, all market businesses reported high growth rates with double-digit growth in the first six months of 2022.

In light of the favourable factors, Viettel Global saw its consolidated pre-tax profit impressively jump 4.4 times from $30.74 million to $134.89 million in the first half of the year. After-tax profit of shareholders of the parent company reached $90.07 million. This is the best semi-annual business result for Viettel Global with Q1 and Q2 being the two most profitable quarters ever.

By the end of the second quarter of 2022, Viettel Global had total consolidated assets of nearly $2.5 billion and equity of approximately $1.3 billion.

Viettel Global posts impressive H1 profits Following the growth momentum of the previous quarter, Viettel Global continued to post strong revenue and profit in the second quarter of the year.

Viettel Global eyes record first-quarter profit Viettel Global (VGI) – part of leading military-run telco Viettel Group – just released its 2022 first-quarter consolidated business results bagged as one of the most glorious quarters in the company’s history to date.

Viettel Global achieved record revenue in 2021 Viettel Global, part of military-run telecom giant Viettel, has established a new record in its revenue in 2021 despite the turbulences of the year.