Viettel posts two-digit growth in many overseas markets
Viettel’s investments in many overseas markets saw impressive results in the first half of the year despite political unstability, natural disasters and the COVID-19 pandemic.
In Africa, its Halotel brand in Tazania recorded the highest growth in the past three years with 30 per cent, Movitel in Mozambique with record growth in the past seven years of 26 per cent and reaching 4.5 million subscribers.
In Asia, its Mytel in Myanmar surpassed 10 million subscribers after only two years of operation, accounting for 30 per cent of market share in the country’s IT industry and achieving the set targets six months before the deadline.
The high growth from overseas markets significantly contributed to Viettel’s positive business results, contributing a revenue of US$140 million to the group in the six-month period, up 4.7 per cent from the same period last year. Viettel has ensured set targets despite big impacts from COVID-19 and the decreasing trend of IT consumption in the world.
Viettel has implemented digital transformation for government, ministries and industries for all of its forein markets. Its Bitel in Peru consecutively won bids for projects that brought in revenue of nearly $10 million in the first half of the year and profits of more than $1.5 million.
Viettel’s business results in overseas markets were out of the forecast for decline of experts around the world. According to the International Data Group (IDG), worldwide IT spending was expected to drop by 5.1 per cent, telecom spending by nearly one per cent. Most of the biggest names in the telecommunications industry in the top 30 of the list of 150 most valuable telecom providers in the world in 2020 ranked by Brand Finance have been mostly damaged by the impact of COVID-19, leading to failure to reach expected growth.
Meanwhile, the business results from foreign markets helped Viettel ensure all business targets set out in the first six months of 2020.
Total revenue of Viettel Group in the January-June period reached VNĐ120 trillion, up 9.1 per cent over the same period last year. In which, revenue from new services on digital platforms reached VNĐ2.6 trillion, representing 57 per cent year-on-year increase. Before-tax profit reached VNĐ19.85 trillion, meeting 49.4 per cent of the whole year plan. — VNS