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Viettel surpasses VNPT in business performance

Released at: 13:37, 26/12/2014

Viettel surpasses VNPT in business performance

Military-run communications group posts best results among Vietnam's largest providers.

by Do Huong

Viettel, Vietnam’s largest telecom operator, has outperformed the Vietnam Posts and Telecommunications Group (VNPT) in terms of 2014 turnover and profit for three consecutive years.

The figures were released at a conference on 2015’s telecommunications tasks held by the Ministry of Information and Communication on December 25. VNPT’s revenue was VND101 trillion ($4.69 billion) and profit VND6.3 trillion ($293 million), up 12 per cent against 2013.

By the end of 2014, total telephone subscribers were 30.5 million (including 26 million mobile subscribers). The number of new mobile subscribers with subsidiary Vinaphone were 8.8 million, broadband internet subscribers over 3 million, and IPTV subscribers 1 million.

Revenue at Mobifone, another subsidiary, was VND36.6 trillion ($1.7 billion), down 7.3 per cent over 2013. Pre-tax profit was VND7.3 trillion ($339 million), up 5.2 per cent. Telephone subscriber numbers were 40.2 million. In 2014 new subscribers were 1 million and the year marked an important milestone for the operator after it officially separated from VNPT.

Viettel, the military-run group, has achieved the best growth in business performance of the three largest operators. It saw VND196.65 trillion ($9.14 billion) in total revenue in 2014, up 20 per cent compared to 2013. Its after-tax profit was VND31.4 trillion ($1.46 billion), up 15 per cent.

By the end of the year Viettel had 57.4 million subscribers, including 55.5 million mobile subscribers. In overseas markets it has 17.5 million mobile subscribers and 815,000 fixed line subscribers. According to the group, its strategy is become a global company and be among of the three largest companies in overseas markets.

The group also aims to invest in 25 countries with a total population of 600-800 million by 2020, and become a Top 10 global telecommunications enterprise. Its goal is to specialize in high-tech research and production, mobile broadband, and cable popularization, among other things.

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