Monday, 12/03/2012 09:07 AM
Viettel records high profit in 2011
In 2011, the world economy was sunk by global economic recession and financial crisis. Vietnamese economy has seriously suffered and faced with difficulties. Given this, Viettel Group remained resilient to gain a remarkable increase by 28% in revenue, reaching VNĐ117 trillion (or USD 5.6 billion), get a profit of VNĐ20 trillion (or USD 1 billion), and contributed VNĐ10 trillion (or USD 500 million) – 25% higher than 2010 - to State budget.
With a profit of US$1 billion in 2011, Viettel ranked 80th about revenue but 30th place for profit in global telecommunication market.
In Việt Nam, the Group ranked second among 500,000 companies for profit with an average labour capacity of VNĐ4.7 billion/staff/year. Looking at financial ratios including profit/capital (return on capital employed), return on assets or gross profit margin, etc, the Group also reached higher effectiveness and efficiency than other enterprises in the sector.
The result demonstrates for the 10-year strategy of focusing on growth and efficiency to attain sustainable development.
In local market, with 8 million subscriptions added during last year, Viettel recorded the highest number among 7 telecom operators. Besides launching many new special packages serving for different groups of customers like SEA+ for fishers, unlimited 3G package MiMax,.
2011 was marked about growth and contribution of offshore investment with total revenue up to US$500 million.
After three years, Viettel have become the largest and biggest operators in Cambodia and Laos by revenue, network and market share. Net profit from these two markets generated US$70 million, 8 times higher than the year before.
At present, the Group has invested in Cambodia, Laos, Haiti, Mozambique and Peru with total population of 86 million – equivalent size of Vietnam population.
Thanks to solid performance in 2011, Viettel continues its targets to reach 20% – 25% increase in revenue, profit and labour capacity. Further improving 3G network quality and expanding 3G coverage to deliver broadband Internet to every house to develop Pay TV.
Following successes of “commoditizing and popularizing telecommunication services” target in recent years, Viettel will promote “popularizing information and communication” program that will bring IT applications into every aspect in daily life.
Revenue for foreign market is set to increase 50% and the Group will expand businesses to other 3 – 4 nations with total population of 100 million.
By the end of 2012, Viettel’s foreign market population will double Việt Nam size. This will be foundation for a long-term development in researching and manufacturing ICT equipment.