An employee at Viettel Post Joint Stock Corporation (Photo: viettelpost.com.vn) Hanoi (VNS/VNA) - Vietnam'sbiggest telecom firm Viettel plans to divest capital in three affiliates toover 50 percent of capital this month and next month.
They are Viettel Post JointStock Corporation (VTP), Viettel Construction Joint Stock Corporation (CTR) andViettel Consultant and Design Joint Stock Company (VTK).
VTK is trading on the UnlistedPublic Company Market (UPCoM) with a market price of around 24,000 VND pershare. Its market capitalisation totals nearly 100 billion VND (4.3 million USD).
The company is the designer ofthe five North-South optical fiber lines with a total length of over 8,500kmand nearly 190,000km of branched fiber optic cable lines.
VTK can take advantage ofViettel’s ecosystem to expand business activities along the border. By theend of 2019, the company had provided services in six foreign markets of Laos,Cambodia, Mozambique, Cameroon, Haiti and Peru.
The company targets to reachrevenue of 200-350 billion VND by 2025, as well as pre-tax profit of 30-40billion VND.
It plans to maintain a stabledividend rate of 10-20 percent per year in the 2020 - 2025 period. This year,the company expected revenue to touch 136 billion VND, with profit of over 16billion VND and dividend payout rate of 15-20 percent.
CTR is trading on UPCoM, witha market price of more than 41,000 VND and market capitalisation of nearly3 trillion VND.
This is the largest operator ofthe infrastructure network in Vietnam. In 2019, while other units in the sameindustry had declining business results, CTR grew strongly thanks to thepromotion of construction activities.
Last year’s consolidatedrevenue and post-tax profit reached 5 trillion VND and 181 billion VND,respectively, up 18 percent and 23 percent year-on-year.
In the first six months of2020, its revenue reached 2.7 trillion VND, up 11 percent year-on-year.Post-tax profit touched 98.4 billion VND, up 28 percent against last year.
CTR aims to expand theprovision of construction operation services in foreign markets, developingsolutions in smart energy for telecommunications as well as other industries. Itexpected revenue to reach 10 trillion VND to 11.4 trillion VND by 2025, andpre-tax profit to reach 300-500 billion VND.
VTP is also trading on UPCoMwith a market price of more than 104,000 VND, equivalent to marketcapitalisation of about 8.7 trillion VND.
The company focuses on threemain business segments of delivery services, logistics services and trade andservices.
It recorded very strong growthin both revenue and market share and holds 21 percent market share in thedelivery market. The unit owns a nationwide delivery network of 2,200 postoffices, 827 shops and 469 postal service points.
In the last five years, ViettelPost's revenue maintained a high growth rate of over 40 percent per year. In2019, net revenue from selling goods and providing services reached 7.8trillion VND, posting a growth of 58.7 percent. This figure is higher than theaverage growth of companies in the delivery industry of 49.4 percent andoutstripped the growth of 8.7 percent of the transport and warehousing industry.
In the 2015-2019 period,the after-tax profit growth rate averaged 59 percent per year. Post-tax profitin 2019 reached more than 380 billion VND, marking a growth of 36.2 percentcompared to 2018. This growth rate is higher than that of the delivery industryof 33.4 percent and many times higher than the figure for the transportationand warehousing industry of 7.6 percent.
In the first six months of2020, as many businesses were affected by the COVID-19 pandemic, ViettelPost still recorded positive results in production and business activities. Itsnet revenue reached nearly 6.8 trillion VND, up to 125.3 percent year-on-year.Post-tax profit rose by 21.2 percent to touch nearly 200 billion VND.
The company aims to become thetop delivery company in Vietnam by 2025 with revenue between 18-23 trillion VND,and pre-tax profit of 1.2-1.4 trillion VND./.
VNA
