Viettel profits highest in 5 years
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Military-owned telecommunications giant Viettel Group earned pre-tax profits of VND43.1 trillion ($1.8 billion) in 2022, the highest growth recorded since 2017.
The profits rose 3% from 2021. The group’s consolidated revenues increased by 6.1% to VND163 trillion.
Viettel said telecommunications continued to be its main source of revenue, as the company remained the largest mobile telecommunications service provider in Vietnam, with a market share of 54%.
Viettel’s telecommunications service revenue growth rate was 1.5 times higher than the world’s average.
Last year, Viettel’s foreign investment for the first time reached nearly $3 billion. Meanwhile, it remitted home nearly $500 million, the highest amount in the last five years. By the end of last year, it had repatriated nearly 70% of its total investment abroad.
The digital solutions and services provided by Viettel also had a breakthrough when revenues from information technology solutions surged by 58%.
Questions & Answers
Q.What was Viettel Group's pre-tax profit in 2022 and how did it compare to the previous year?
What was Viettel Group's pre-tax profit in 2022 and how did it compare to the previous year?
Viettel Group reported pre-tax profits of VND43.1 trillion ($1.8 billion) in 2022. This figure represents a 3% increase compared to their profits in 2021, marking the highest growth recorded since 2017.
Q.Which business segment was the primary driver of Viettel's revenue in 2022?
Which business segment was the primary driver of Viettel's revenue in 2022?
Telecommunications continued to be the main source of revenue for Viettel Group in 2022. The company maintained its position as the largest mobile telecommunications service provider in Vietnam, holding a market share of 54%.
Q.How much money did Viettel Group repatriate from its foreign investments in the last year?
How much money did Viettel Group repatriate from its foreign investments in the last year?
Last year, Viettel Group repatriated nearly $500 million from its foreign investments. This amount represents the highest sum repatriated by the company in the last five years, demonstrating strong returns from its overseas ventures.
Q.Did Viettel experience growth in its digital solutions and services segment?
Did Viettel experience growth in its digital solutions and services segment?
Yes, Viettel's digital solutions and services saw significant growth last year. Revenues from information technology solutions experienced a substantial surge, increasing by 58%, indicating a breakthrough in this business area.
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