Telecommunications giant reports trillion-dollar profit in 2024

ANTD.VN - Viettel recorded a pre-tax profit of 51,000 billion VND, VNPT reached more than 6,000 billion VND, MobiFone grew by double digits in 2024 thanks to effective business operations.

Telecommunications businesses operate effectively in 2024

The Military Industry-Telecoms Group (Viettel) said that Viettel's consolidated revenue in 2024 will be VND190,000 billion, completing 103% of the plan, up 10.3%. This is the highest growth rate in the industry in the past year.

Along with that, Viettel's pre-tax profit was 51,000 billion VND, reaching 111% of the plan, up 11.3%. Viettel paid 42,600 billion VND to the State budget, up 12.3%.

Notably, the average income of employees in the entire Group also increased by 6%.

Viettel representative said that the growth momentum comes from maintaining domestic telecommunications growth, developing international business, successfully researching, manufacturing and commercializing high-tech products, developing logistics, cybersecurity, AI and digital technology.

In 2024, Viettel will continue to grow its telecommunications business when the market is saturated. The network successfully converted 6.5 million 2G subscribers to 4G before stopping the 2G Only service in just 10 months - a result that many other networks in the world needed 3 years. At the same time, Viettel also installed more than 6,000 BTS stations to expand 4G coverage, ensuring connectivity for all Vietnamese people equivalent to 2G coverage.

In addition, this is the 8th consecutive year that foreign business has grown by double digits. Despite facing political instability, high inflation, exchange rate fluctuations, etc., Viettel's service revenue from international markets in 2024 still increased by 17.3%, contributing 80% to the overall growth of the entire Group and 7 times higher than the world average.

In particular, Movitel has risen to the top in Mozambique, putting Viettel in the number 1 position in market share in 7 foreign markets.

Cash flow repatriated to the country was 467 million USD, exceeding the annual plan. Viettel has recovered capital in 5 markets. Viettel's foreign investment return rate reached 85%, ahead of schedule. Viettel has also officially launched 5G services in Peru and Laos.

In Burundi, Viettel is the first and only network operator licensed by the Government to use 5G test frequencies for free.

Besides telecommunications, Viettel has expanded its business to many other services in foreign markets: e-wallet services with nearly 33 million subscribers; delivery services in Laos, Cambodia, Myanmar; and network security services in 11 countries.

2024 is also considered a successful year for Vietnam Posts and Telecommunications Group (VNPT). Total revenue of VNPT Group reached VND 58,540 billion, of which the parent company's revenue reached VND 41,995 billion, reaching 100.1% of the plan, up 7% over the same period in 2023.

VNPT's consolidated pre-tax profit in 2024 will reach VND 6,086 billion, of which the parent company's pre-tax profit will reach VND 4,565 billion, reaching 103.3% of the plan, up 3% over the same period in 2023.

VNPT's consolidated state budget contribution in 2024 will reach VND 5,484 billion, of which the parent company is expected to reach VND 4,137 billion, reaching 106.4% of the plan, up 36.5% over the same period in 2023.

VNPT Group's leaders said that the 7% revenue growth, although modest, is especially valuable in the context of an increasingly challenging market with many changes in market management policies, policies to stop developing new SIM cards through agents, and public investment in digital transformation projects showing signs of slowing down...

“The fact that VNPT has both fulfilled its responsibilities as one of the country's key technology corporations and maintained its production and business activities is no small achievement.

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" - VNPT representative said.

Another “big guy” in the telecommunications industry, MobiFone, also achieved many successes in the past year. MobiFone ended 2024 with many achievements in production and business activities, exceeding the assigned profit plan. MobiFone’s most important targets in 2024 are profit and payment to the state budget. Both exceeded the plan.

In which, pre-tax profit exceeded 20.1%; state budget contribution exceeded 56.7%. MobiFone's digital service sector also witnessed high growth rates of many products and services such as MobiFone Meet (growth of 1,050%), Cloud (312%), mobiAgri (49%), MobiFone invoive (58%).

MobiFone is also defining its vision to become a pioneering technology corporation in the digital technology industry by 2030, providing key digital infrastructure. With this goal, the Corporation said it will continue to develop technology platforms such as artificial intelligence (AI), Internet of Things (IoT), and cloud computing.

Source: https://www.anninhthudo.vn/ong-lon-vien-thong-bao-lai-nghin-ty-trong-nam-2024-post600310.antd