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Viettel earns nearly 10 billion USD in revenue

DA NANG Today
Published: January 26, 2015

Viet Nam’s military-run Viettel Group last year jumped closer to the 10 billion USD revenue mark, with investment in 9 overseas markets raking in billion-dollar earnings, the company recently revealed.

Viettel’s 2014 revenue topped 197 trillion VND (9.18 billion USD), accounting for 12% of the total earnings of all state-run enterprises.

The group posted revenue growth of 20%, while the average rate of other players in the telecom sector is only 5%.

Customers registering for the Movitel mobile phone service, an investment of Viet Nam-based Viettel in Maputo, the capital of Mozambique
Customers registering for the Movitel mobile phone service, an investment of Viet Nam-based Viettel in Maputo, the capital of Mozambique

Its pretax profit swelled to 42 trillion VND (1.96 billion USD), a 15% year on year increase.

Viettel also posted 1.2 billion USD in revenue, and 278 million USD  in profit, from 9 outbound markets.

It has invested in Laos, Cambodia, Timor Leste, Mozambique, Cameroon, Tanzania, Burundi, Haiti, and Peru, according to Viettel Global, the group’s international investment arm.

Viettel was also the largest contributor to the state budget in 2014, paying more than 15 trillion VND (699.04 million USD) in taxes, and generated nearly 80,000 jobs in Viet Nam and other markets.

The number of Viettel 3G subscribers topped 14 million in late 2014, occupying nearly 51% of the market share.

In 2015 Viettel will withdraw from most of its non-core business operations, such as real estate.

The military-run firm is expected to maintain its 20% growth pace and earn 230 trillion VND (10.72 billion USD) in revenue this year.
 

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