Business

Viettel Global posts historical revenue in Q2

Viettel Global Investment has just released its semi-annual consolidated financial report with revenue from sales and services witnessing an impressive growth of 25%.

Customers at Movitel's branch in Matola province of Mozambique. (Photo: VNA)
Customers at Movitel's branch in Matola province of Mozambique. (Photo: VNA)

Hanoi (VNS/VNA) - Viettel Global Investment has just released its semi-annual consolidated financial report with revenue from sales and services witnessing an impressive growth of 25%.

The report showed that the company's revenue reached nearly 16.6 trillion VND (667.4 million USD) in the first half of 2024. The result significantly outpaces the global telecommunications growth rate of 4.3%, according to the US technological research and consulting firm Gartner.

Viettel Global recorded ten consecutive quarters of year-on-year revenue growth, with the second quarter posting an all-time high in terms of revenue. Its profit before tax was 4.74 trillion VND (190 million USD).

In the first half of the year, all nine markets saw notable growth. For example, Lumitel in Burundi increased by 31%, Unitel in Laos by 27%, Mytel in Myanmar by 24%, Movitel in Mozambique by 23% and Natcom in Haiti by 18%.

Electronic wallet companies also demonstrated remarkable growth, with e-Mola in Mozambique surging by 169%, U-money in Laos by 62%, Halopesa in Tanzania by 34% and Mosan in Timor-Leste by 34%.

By the end of June 2024, revenue from electronic wallet services reached nearly 2.1 trillion VND, making up 11% of total revenue, while electronic wallet subscriptions hit 18.5 million, representing 41% of total mobile subscriptions.

In May 2024, Movitel (Viettel in Mozambique) became the market leader, marking the seventh market where Viettel Global holds the top position, reinforcing its international strength.

On June 5, Viettel Global held its annual shareholder meeting, approving all Board proposals.

For 2024, the company aims for double-digit growth, with traditional telecom growth over 10% and non-telecom services increasing by 20-30%. It also has a goal of more than six million new digital subscriptions./.

VNA
#Viettel Global Investment #electronic wallet #Movitel #US technological research and consulting firm Gartner #semi-annual consolidated financial report Vietnam
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