MWG 7-month revenue up 29% to VND 111,394 billion, beats plan

Overview

Mobile World Investment Corporation (MWG) announced its 7-month business results with revenue reaching VND 111,394 billion, a 29% increase year-on-year, achieving 60% of the annual plan. Management expressed confidence in exceeding the profit target ahead of schedule. The company operates over 7,100 points of sale across its retail chains in Vietnam and Indonesia.

Key Facts

• 7-month revenue: VND 111,394 billion, up 29% YoY, achieving 60% of the annual plan.
• Average daily revenue: approximately VND 525 billion.
• Điện Máy Xanh (DMX) segment revenue: VND 75,200 billion, up 29% YoY, with online channel contributing 13%.
• Same-store sales growth (SSSG) for DMX: 30%.
• Bách Hóa Xanh (BHX) revenue: VND 33,900 billion, up 28% YoY; 819 new stores opened in 7 months.
• An Khang revenue: up 22% YoY.
• Erablue (Indonesia) revenue: IDR 2,228 billion, up 89% YoY, with 102 new stores.
• Total points of sale: over 7,100, including 1,005 Thế Giới Di Động, 2,002 Điện Máy Xanh, 3,378 Bách Hóa Xanh, 420 An Khang, and 95 others.

What Happened

MWG released its 7-month business update, showing robust growth across all retail chains. The company’s revenue reached VND 111,394 billion, up 29% year-on-year, achieving 60% of the full-year target. The Điện Máy Xanh segment, which includes Thế Giới Di Động, Điện Máy Xanh, Topzone, Erablue, and Thợ Điện Máy Xanh, recorded revenue of VND 75,200 billion, with online sales accounting for 13%. Growth was driven by strong same-store sales growth of 30%, with all major product categories expanding between 15% and 55% year-on-year.

Bách Hóa Xanh reported revenue of VND 33,900 billion, up 28% YoY, with fresh food and FMCG as key drivers. The chain opened 819 new stores in seven months and achieved positive operating profit at the store level, including warehousing costs. An Khang’s revenue grew 22% YoY, while AvaKids remained flat as the chain focuses on cost optimization. At an investor meeting in early August, CEO Vũ Đăng Linh expressed confidence in beating the full-year revenue plan and achieving the VND 9,200 billion profit target 2-3 months earlier than scheduled.

Market Context

MWG shares closed at VND 73,600 on August 13, 2026, on the HOSE. The company’s strong operational performance comes amid a recovering domestic retail sector, with consumer spending improving. MWG’s diversified portfolio, including electronics, grocery, pharmacy, and international operations, positions it well to capture growth. The market has been closely watching MWG’s ability to sustain growth, especially in the competitive grocery segment where Bách Hóa Xanh has turned profitable at store level.

Strategic Significance

MWG’s results underscore the success of its multi-format retail strategy. The strong same-store sales growth, particularly in electronics and grocery, indicates that the company is gaining market share without relying on aggressive store expansion. The positive store-level profitability at Bách Hóa Xanh is a key milestone, as it validates the chain’s business model and paves the way for further expansion. Management’s confidence in beating profit targets early suggests operational efficiency and cost control are improving. For long-term investors, MWG’s ability to sustain double-digit growth across all segments, while expanding internationally via Erablue, strengthens its position as a leading retail player in Southeast Asia.

What to Watch

• Monthly revenue updates for August and September to confirm sustained growth momentum.
• Q3 2026 earnings release, expected in October, to see if profit target is indeed beaten early.
• Bách Hóa Xanh’s store-level profitability trend and any further store expansion plans.
• Erablue’s performance in Indonesia, including store count and same-store sales growth.
• Any changes to the full-year guidance or new strategic initiatives announced by management.