Viettel Global records 22% Q1 revenue growth, including a 23% growth in Mozambique

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Viettel Global records 22% Q1 revenue growth, including a 23% growth in Mozambique

8:41 CAT | 06 May 2025

FILE - A Movitel service stand in Mozambique. [File photo: Viettel Global]

Viettel Global on May 5 revealed revenue growth of 22 per cent via its audited consolidated financial report for the first quarter of 2025.
The report shows that Viettel Global’s revenue from sales and services reached nearly VND9.66 trillion ($372 million) in 2024, up 22 per cent on-year. Consolidated pre-tax profits reached VND1.31 trillion ($50.4 million).

The company posted a revenue growth of over 20 per cent for the sixth consecutive quarter, underscoring its development amid the backdrop of the global telecommunications market being near saturated.

In the first quarter, all markets registered high growth in revenue from sales and service provision, with Viettel arms in Burundi increasing by 38 per cent, Tanzania by 29 per cent, Haiti by 28 per cent, and Mozambique by 23 per cent.

Besides positive results from the telecommunications segment, its e-wallet companies also experienced impressive growth. Lumitel in Burundi hiked 59 per cent, Halopesa in Tanzania increased 47 per cent, Emoney in Cambodia rose by 42 per cent, and M_Mola in Mozambique increased by 27 per cent.

The results reflect the strong growth potential of digital finance services, which is expected to be an important growth driver for the group.

Viettel Global has welcomed government leaders to its facilities in recent months, as part of its role as a diplomatic bridge between Vietnam and other countries around the world. President of Burundi Esvariste Ndayishimiye and a high-ranking delegation paid a working visit to Viettel, while the company also met Timor Leste President José Ramos-Horta in Hanoi.

Moreover, Viettel Global has received a certificate of merit from the Ministry of Defence for its outstanding contributions to rescue work after the recent earthquake in Myanmar. The efforts reflect Viettel’s business mission and its commitment to corporate social responsibility in its overseas investment activities.

Source: Vietnam Investment Revue