Exploring new development space, VNPT's revenue grows 7%

In 2024, although the telecommunications-information technology market faced many difficulties, with great efforts and determination, Vietnam Posts and Telecommunications Group (VNPT) still maintained its market share with key services, optimized costs, helping the Group's revenue and profit to be maintained and grew well compared to the same period, reaching 7%.

7% - a valuable growth figure in a challenging context In 2024, the total revenue of VNPT Group reached VND 58,540 billion; of which, the parent company's revenue reached VND 41,995 billion, equal to 100.1% of the plan, up 7% over the same period in 2023. VNPT's consolidated pre-tax profit in 2024 reached VND 6,086 billion; of which, the parent company's pre-tax profit reached VND 4,565 billion, equal to 103.3% of the plan, up 3% over the same period last year. VNPT's consolidated state budget contribution in 2024 reached VND 5,484 billion; In which, the parent company is expected to reach 4,137 billion VND, equal to 106.4% of the plan, up 36.5% over the same period in 2023. The Group's pre-tax profit margin on equity is 8.35%; in which, the after-tax profit margin/equity of the parent company is 6.5%, up 29.5% over the plan. According to the leader of VNPT Group, the 7% revenue growth figure is not high yet, but it is especially valuable in the context of an increasingly challenging market with a series of changes in market management policies, policies to stop developing new SIM cards through agents, public investment in digital transformation projects showing signs of slowing down,... With these pressures, the fact that VNPT has both fulfilled the responsibilities of one of the country's key technology corporations and ensured the maintenance of production and business activities is no small achievement. Recognizing the above challenges and finding opportunities from that context, VNPT Group has determined to continue to enhance the capacity of telecommunications-information technology infrastructure in the direction of updating new technologies such as: AI, IoT, Cloud, 5G, ... and especially information security. In the past year, in addition to continuing to improve the capacity of the 4G network, VNPT has officially launched VinaPhone 5G. Up to now, Vinaphone 5G has covered 63 provinces and cities nationwide, focusing on coverage and service provision in key socio-economic areas such as district administrative centers, industrial parks, seaports, airports, schools, hospitals, and tourist areas. Over the past year, VNPT has been searching for new products, promoting revenue sources from new growth areas with many remarkable successes: The information security sector grew by 58% over the same period and achieved CREST certification for information security products and services - one of the most prestigious certifications that very few businesses and organizations have achieved today. The artificial intelligence sector also grew by 60% over the same period with outstanding products such as AI cameras for smart cities, GenAI in customer care call center analysis. VNPT's generative AI technology (GenAI) for Vietnamese language has been at the top of the Vietnamese Language and Speech Processing 2024 rankings for many consecutive months. In addition, VNPT has also put into operation a comprehensive digital agriculture ecosystem to meet the diverse needs of customers from the government to businesses, cooperatives, farmers, etc. on two platforms: AIMS and VNPT Green. Optimizing operations through model innovation One of the strategic and key tasks of VNPT in 2024 and the following years is to develop action programs to realize the goals set out in the VNPT Group Restructuring Project for the period up to 2025 and the Group's Development Strategy to 2030, with a vision to 2030. Accordingly, in 2024, VNPT focused on implementing the orientation of innovating the production and business organization model with the motto of taking customer needs and experiences as the root to digitize operations, bringing the entire business operation process to the digital environment, and increasing customer experience.

VNPT staff guide customers to use the service.

In 2024, the Group will orient, plan, and develop key strategic products (mobile, Smart Home, MyTV, digital business products/services) to adapt to the market and have achieved many encouraging results: VNPT eKYC based on AI platform reached 1 billion requests in Vietnam; launched the comprehensive VNPT Cloud ecosystem, providing diverse services from the platform layer to the infrastructure layer, serving many different customer segments. At the same time, VNPT Group also continues its strategy of cooperation and accompanying the Government, ministries, branches, localities and large corporations/groups to build national digital transformation solution platforms. Identifying national data as one of the focuses of digital government, VNPT has deployed comprehensive data integration and interconnection for the OneGov ecosystem; upgraded the National Population Database system, the national database system on cadres, civil servants, and public employees; deploying Data Warehouse, specialized databases on land, health, education, social security, construction, industry and trade, culture, sports and tourism, etc. VNPT has participated in providing solutions to meet 31/44 pilot models of Project 06/CP. In 2025, the country will have many innovations to move towards a new era, an era of national growth. VNPT Group is determined to continue to invest systematically in technology and people, improve management capacity, build a flexible corporate culture and expand cooperation with partners.

Source: https://nhandan.vn/khai-pha-khong-gian-phat-trien-moi-doanh-thu-vnpt-tang-truong-7-post851791.html