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Viettel Global: Consolidated revenue reached nearly VND6,900 billion in Q2/2023 

 Sunday, August 6,2023

AsemconnectVietnam - Revenue from core business activities in many markets Viettel Global is investing in achieved a growth of 20-30% in the quarter.

Viettel International Investment Corporation (Viettel Global – VGI) has just announced the consolidated business results of the second quarter of 2023 with revenue of VND6,861 billion, up 17% - equivalent to an increase of more than VND1,000 billion over the same period.
This is the highest level of consolidated revenue ever of Viettel Global and recorded the fourth consecutive quarter of revenue at over VND6,000 billion per quarter.
Corresponding to revenue, gross profit also increased by VND472 billion to VND3,139 billion, gross profit margin reached nearly 46%.
In terms of revenue structure (outside sales) by market: Africa increased by 18% to VND2,935 billion; Southeast Asia increased by 17.6% to 3,171 billion and the Latin American market reached VND755 billion.
Viettel Global said that core business activities at most of the market companies (including subsidiaries and affiliates) had good growth in sales and service provision, in which: Unitel in Laos +32%, Movitel in Mozambique +30%, Telemor in East Timor +23%, Metfone in Cambodia +22%, Mytel in Myanmar +21%, Halotel in Tanzania +6%, Natcom in Haiti +5%.
Especially, Wallet companies also experienced impressive growth such as: M_mola (Mozambique) +924%, Starfintech (Laos) +100%, Telemor Fintech (East Timor) +83%, Halopesa (Tanzania) +38%, Emoney ( Cambodia) +26%.
However, on a prudent basis, during the period, Viettel Global made provision for investments and receivables for a number of related companies and was affected by exchange rate differences, which had a great impact on the finance index.
Excluding the above factors, the profit after tax from core business activities in the period of Viettel Global still increased by VND615 billion over the same period.
In the first 6 months of the year, Viettel Global achieved more than VND13,300 billion in consolidated revenue, up 18%. Profit before tax reached VND187 billion.
Viettel Global's borrowings and debts continued to decrease significantly with short-term loans falling from VND3,669 billion to VND2,911 billion and long-term debt decreasing from VND2,289 billion to VND979 billion. At the end of the second quarter, Viettel Global's total assets and equity reached VND48,425 billion and VND28,750 billion, respectively.
Source: VITIC/Tinnhanhchungkhoan


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