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Digiworld posts robust Q2 growth in every business unit

Released at: 18:41, 25/07/2019

Digiworld posts robust Q2 growth in every business unit

Photo: Digiworld

Electronics and FMCG distributor releases second quarter and first half results.

by Khanh Chi

Vietnamese electronics and FMCG distributor the Digiworld Corporation (DGW) has announced its business results for the second quarter, revealing a new record in quarterly net revenue since its establishment, of $86.4 million, up 46 per cent year-on-year, and after-tax profit of around $1.5 million, up 56 per cent year-on-year, despite the second quarter being the “low season” for sales.  

In the first half of the year, Digiworld therefore saw total net revenue of $145.4 million and after-tax profit of $2.6 million, increases of 28 per cent and 43 per cent, respectively, year-on-year. The company completed 47 per cent of its annual revenue plan and 44 per cent of its profit plan.

It made major efforts to boost growth in every business unit in the first half, especially consumer goods, where it achieved 170 per cent growth year-on-year.

Consumer goods saw revenue reach approximately $5 million, with a contract signed for master distribution of Nestlé Medical Nutrition products in early 2019.  

Office equipment, meanwhile, is expected to grow in the long term given the digital transformation at enterprises in Vietnam. Revenue reached $25.4 million, an increase of 22 per cent year-on-year and representing 42 per cent of the annual plan.

Mobile phone sales were nearly $66.8 million, up 29 per cent year-on-year and completing 52 per cent of the annual plan. Digiworld now holds a market share of 8 per cent in smartphones, compared to 6 per cent in the same period last year. 

In laptops and tablets, revenue stood at $48.2 million, an increase of 23 per cent year-on-year, representing 47 per cent of the annual plan and accounting for a market share of 30 per cent compared to 28 per cent in the same period of 2018.

Unit: $ million

Net revenue 

Q2 2019

Q2 2018

YoY

1H 2019

2H 2018

YoY

% Plan 

Planned

Laptops & tablets

28.2

19.3

46%

48.2

39.2

23%

47%

103.7

Mobile phones

41.6

27.9

49%

66.8

51.8

29%

52%

129.1

Office equipment

13.9

11.2

24%

25.4

20.8

22%

42%

59.8

Consumer goods

2.7

0.9

214%

5.0

1.9

170%

33%

15.1

Total 

2,006

1,377

46%

3,377

2,643

28%

47%

7,150

After-tax profit 

35.3

22.6

56%

60.0

42.0

43%

44%

137

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