Viettel Global Q1/2026 Net Profit Surges 471%, Revenue Up 30%

Overview

Viettel Global (VGI) reported a 471% surge in Q1/2026 net profit to VND 2,329 billion, with revenue rising 30% to VND 12,568 billion. The strong performance was driven by broad-based growth across subsidiaries and digital transformation initiatives. The company also announced a 33% cash dividend for 2025, reinforcing its commitment to shareholder returns.

Key Facts

• Q1/2026 net profit after tax: VND 2,329 billion, up 471% year-on-year.
• Q1/2026 revenue: VND 12,568 billion, up 30% YoY.
• Pre-tax profit reached VND 3,484 billion, up 166% YoY.
• Revenue has grown at double-digit rates for 17 consecutive quarters since Q1/2022.
• The company plans to pay a 33% cash dividend for 2025, totaling over VND 10,044 billion.
• New logistics services launched in Laos; Cambodia launch expected in Q2/2026.
• Digital and financial services expanded with the establishment of NatTransfer in Haiti for remittance services.

What Happened

Viettel Global announced its Q1/2026 consolidated financial results, showing a net profit of VND 2,329 billion, a 471% increase from the same period last year. Revenue grew 30% to VND 12,568 billion, marking the highest growth rate in the company’s history. The company attributed the results to synchronized growth across most subsidiaries and associates, as well as the effectiveness of its digital transformation strategy in international telecom investments.

In addition to the earnings release, Viettel Global disclosed its dividend plan for 2025, proposing a 33% cash dividend, equivalent to VND 3,300 per share. The total payout is expected to exceed VND 10,044 billion. The company also outlined its 2026 strategy, focusing on four pillars: strengthening traditional telecom, accelerating digital services, exploiting new business areas, and expanding into potential markets.

Market Context

VGI is listed on the Ho Chi Minh Stock Exchange (HOSE) and has been a standout in the telecommunications sector. The stock has benefited from consistent revenue growth and expanding margins. The Q1 results significantly exceeded market expectations, with profit growth far outpacing revenue growth, indicating improving operational efficiency. The 33% cash dividend yield is among the highest in the sector, likely attracting income-focused investors.

Strategic Significance

The results underscore Viettel Global’s successful pivot beyond traditional telecom into digital services, logistics, and renewable energy. The company’s ability to maintain double-digit revenue growth for 17 consecutive quarters highlights its competitive moat in challenging international markets. The high dividend payout signals strong free cash flow generation and management’s confidence in future earnings. The expansion into logistics and remittance services diversifies revenue streams and reduces reliance on core telecom operations.

What to Watch

• Q2/2026 results to confirm sustained growth momentum, especially from new logistics services in Cambodia.
• Progress of solar power projects in Mozambique and Myanmar, which could open new revenue streams.
• Dividend payment timeline and any changes to payout policy.
• Foreign ownership trends, as VGI’s strong performance may attract increased foreign investor interest.
• Updates on NatTransfer’s remittance operations in Haiti and potential expansion to other markets.