Telecom

Viettel publishes net revenue of $529.7 million in first nine months of 2018, spurred by African subsidiaries

Monday, 12 November 2018 15:41

(Ecofin Agency) - The Vietnamese telecom group Viettel published its financial reports for the first nine months of 2018. From these reports, it appears that its international arm Viettel Global Investment JSC performed well with net income of VND12.43 trillion (533,706,118 US Dollars) representing a growth from 3 to 11% compared to the performance during the same period in 2017. This improvement was spurred by the company’s subsidiaries in Africa.

Indeed, thanks to its markets in Cameroon, Tanzania, Mozambique and in Burundi, the company made about VND5.61 trillion (240,876,212 US Dollars).

In Cameroon, thanks to its subsidiary Nexttel, third telecom operator which launched operations in this market on September 12, 2014, the group had 4.5 million clients in the second quarter of 2018. In Tanzania, Halotel which was the last operator to enter the market in October 2015 is actually the fourth out of six operators.

In Mozambique, Movitel is progressing after its introduction into the market in January 2011. Finally, there is Rwanda where under the name Lumitel, Viettel is now the third out of four operators.

Let’s note that international subsidiaries also contributed positively to the group’s performances. In South-East Asia, Viettel’s subsidiaries generated a net revenue of VND4.54 trillion (194,933,690 US Dollars) while those in Latin America contributed VND1.69 trillion (72,563,422 US Dollars).





 
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