Viettel Global posts revenue growth of 25 per cent in H1

Viettel Global has announced its consolidated financial report for the first six months of 2024 after being audited, with results slightly increased compared to the previous self-prepared report.

The report noted that Viettel Global generated VND16.59 trillion ($667.9 million) in revenue from sales and service provision in the first half of 2024, up 25 per cent from a year ago. This was more than quintuple the growth rate of global telecommunications firms at 4.3 per cent, according to management consulting company Gartner.

Meanwhile, its pre-tax profit reached VND4.74 trillion ($190.8 million). The corporation recorded revenue growth over 10 consecutive quarters, and in the second quarter of 2024, revenue reached a record high.

Revenue of Viettel Global (billion VND)

In the first six months of 2024, all nine of Viettel Global's markets registered high growth, with Lumitel in Burundi up 31 per cent, Unitel in Laos up 27 per cent, Mytel in Myanmar up 24 per cent, Movitel in Mozambique up 23 per cent, and Natcom in Haiti up 18 per cent.

In particular, e-wallet companies posted impressive growth, such as M_mola (Mozambique) up 169 per cent, U-money (Laos) up 62 per cent, Halopesa (Tanzania) up 34 per cent, and Mosan (East Timor) up 34 per cent. By the end of June 2024, revenue from e-wallet services reached VND2.1 trillion ($84.5 million), accounting for 11 per cent of total revenue, while e-wallet subscribers reached 18.5 million, accounting for 41 per cent of mobile subscribers.

In May, Movitel climbed to top the market share in Mozambique, marking the seventh market where Viettel Global holds the leading position. This was an important milestone, underscoring the position of the Vietnamese corporate in the international market.

On June 5, Viettel Global held its AGM, approving all proposals put forward by the Board of Directors. In 2024, the corporation aims to maintain a double-digit growth rate, with traditional telecommunications growth of over 10 per cent and non-telecommunication services growth of 20-30 per cent. Viettel Global also aims to increase its number of digital subscribers to at least six million.

Viettel Global is implementing a strategy to scale up its businesses both vertically and horizontally. To promote effective and sustainable development, Viettel Global maintains its top position while continuing to expand new services in the market, such as data centre, cloud computing, e-wallets, and convenient digital services for the government and public. Meanwhile, Viettel Global will continue to survey new markets to seek investment and business opportunities.

Viettel Global posts pre-tax profit of nearly $96.6 million in Q3 Following the growth momentum of the first two quarters of 2022, Viettel Global continued to record its best third-quarter business results ever in terms of both revenue and profit.

Viettel Global's consolidated revenue exceeds $1 billion Viettel Global has just announced its 2022 consolidated financial statements audited by Deloitte Vietnam with the highest ever revenue and pre-tax profit recorded in the telecom giant's history.

Viettel Global posts increasing profits Viettel Global (VGI) reached a record high level for its revenue from sales and service provision and consolidated pre-tax profit for the whole of 2023.