Viettel recorded record profit of nearly 2 billion USD

The above information was just announced by the Military Industry and Telecommunications Group (Viettel) on January 3. In 2024, Viettel will achieve consolidated revenue of 190,000 billion VND, an increase of 10.3% compared to 2023.

Consolidated profit before tax increased by 11.3% to a record level – 51,000 billion VND, equivalent to 1.99 billion USD (calculated according to the exchange rate at Vietcombank on January 3). This group’s budget payment also increased by 17% to VND 44,300 billion. The average income of the group’s employees last year increased by 6%.

Viettel said that the above positive business results were achieved thanks to maintaining domestic telecommunications growth, as well as developing international business. At the same time, this enterprise also researches, produces and commercializes high-tech products.

Last year, this group operated the largest data center in Vietnam with 230,000 servers in Hoa Lac. Viettel’s 5G network is present in 95% of provincial capitals and cities. In 2025, the group plans to develop 12,000 new 5G stations.

At the same time, the business has also put into operation the ADC undersea fiber optic cable connecting China, Japan and Southeast Asia. To date, Viettel has 5 undersea fiber optic cable lines, 360,000 km of fiber optic cables and also plans to invest in more Vietnam – Singapore undersea fiber optic cable lines.

Viettel has just opened Vietnam’s first logistics park in Lang Son. In the coming time, the company will continue to improve the network of logistics centers nationwide, serving key economic areas.

In the field of high-tech industry, Viettel successfully tested and accepted many strategic weapons. Thereby, the group is ready to produce and equip a large area for the Ministry of National Defense.

In 2024, the group signed contracts to export radar and training simulation systems with Malaysia and the Philippines. Viettel’s 5G equipment will also be exported to India and 9 Middle Eastern countries.

With international markets, Viettel recorded revenue growth of over 17%. Cash flow remitted to the country was 467 million USD, exceeding the yearly plan. Thanks to that, Viettel has returned capital in 5 foreign markets. By the end of last year, the group’s investment return rate reached 85% – earlier than the proposed roadmap.