Telecommunications giant reports trillion-dollar profit in 2024

ANTD.VN - Viettel recorded pre-tax profit of 51,000 billion VND while 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 is 190,000 billion VND, completing 103% of the plan, growing by 10.3%. This is the highest increase 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, an increase of 11.3%. Viettel paid 42,600 billion VND to the State budget, an increase of 12.3%.

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

A representative from Viettel stated that the growth drivers come from maintaining domestic telecommunications growth, developing international business, successfully researching, manufacturing, and commercializing high-tech products, and developing the fields of logistics, cybersecurity, AI, and digital technology .

In 2024, Viettel will continue to grow its telecommunications business when the market is saturated. This 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 repaid capital in 5 markets. Viettel's return on investment abroad 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 include many other services in overseas markets: e-wallet services with nearly 33 million subscribers; delivery services in Laos, Cambodia, and Myanmar; and cybersecurity services in 11 countries.

2024 is also considered a successful year for Vietnam Posts and Telecommunications Group (VNPT). Total revenue of the entire VNPT Group reached 58,540 billion VND, of which the parent company's revenue reached 41,995 billion VND, reaching 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, achieving 103.3% of the plan and increasing by 3% compared to the same period in 2023.

VNPT's consolidated state budget contribution for 2024 reached VND 5,484 billion, of which the parent company is expected to contribute VND 4,137 billion, achieving 106.4% of the plan and increasing by 36.5% compared to 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 the important responsibilities of one of the country's key technology corporations and ensured the maintenance of production and business activities is no small achievement.

Besides continuing to enhance the capacity of its 4G network, VNPT has officially launched VinaPhone 5G. "To date, VinaPhone 5G has coverage in all 63 provinces and cities nationwide," a VNPT representative stated.

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.

Of 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