Viettel Global H1 2026 Net Profit Surges 122%, Revenue Up 29%

Overview

Viettel Global (VGI) announced strong consolidated financial results for the first half of 2026, with net profit surging 122% year-on-year to VND 6,334 billion. Revenue grew 29% to VND 26,178 billion, driven by robust performance across its international telecom markets in Africa, Southeast Asia, and Latin America. The results highlight the company’s successful diversification beyond Vietnam’s domestic market.

Key Facts

• H1 2026 net profit after tax reached VND 6,334 billion, up 122% year-on-year.
• H1 2026 net revenue reached VND 26,178 billion, up 29% year-on-year.
• Q2 2026 net revenue was VND 13,610 billion (+28% YoY), with net profit of VND 4,005 billion (+23% YoY).
• Q2 2026 profit attributable to parent shareholders was VND 3,467 billion, up 47% YoY.
• Africa generated nearly VND 6,884 billion in Q2 revenue, up over 26% YoY, remaining the largest contributor.
• Southeast Asia revenue reached nearly VND 4,936 billion in Q2, up nearly 32% YoY.
• Latin America contributed nearly VND 1,791 billion in Q2, up nearly 28% YoY.
• In H1 2026, Viettel Global and its subsidiaries paid nearly VND 5,964 billion in taxes in Vietnam and international markets.

What Happened

Viettel Global (VGI), the international investment arm of Viettel Group, released its consolidated financial statements for Q2 and H1 2026. The company reported a 29% increase in H1 revenue to VND 26,178 billion and a 122% jump in net profit to VND 6,334 billion, reflecting strong operational performance across its overseas markets. The company operates telecom networks in Cambodia, Laos, East Timor, Myanmar, Mozambique, Tanzania, Burundi, and Haiti, with an additional investment in Cameroon that is not yet consolidated.

According to the company’s filing, Q2 revenue rose 28% year-on-year to VND 13,610 billion, while net profit increased 23% to VND 4,005 billion. Profit attributable to parent shareholders grew faster at 47% to VND 3,467 billion, indicating improved efficiency in core markets. The company also highlighted that Africa remained the largest revenue contributor, followed by Southeast Asia and Latin America, all showing double-digit growth.

Market Context

Viettel Global is listed on the UPCOM exchange under ticker VGI. As of August 6, 2026, the stock closed at VND 83,800. The company’s strong H1 results come amid a broader recovery in Vietnam’s telecom sector, with increasing demand for data services in emerging markets. VGI’s focus on high-growth regions such as Africa and Southeast Asia positions it well to benefit from rising mobile penetration and data consumption. The stock’s recent performance reflects investor optimism about the company’s international expansion strategy.

Strategic Significance

Viettel Global’s H1 2026 results demonstrate the success of its strategy to build a diversified international telecom portfolio. The 122% profit growth, outpacing revenue growth, indicates improving operational leverage and cost management. The company’s presence in multiple high-growth markets reduces dependence on any single economy and provides a hedge against domestic market saturation. For long-term investors, VGI offers exposure to the structural growth of mobile and data services in underserved regions, with the potential for further consolidation as it expands into new markets like Cameroon. The strong tax contribution also underscores its role as a significant economic player in both Vietnam and host countries.

What to Watch

• Q3 2026 results to see if profit growth momentum continues, especially in Africa and Southeast Asia.
• Updates on the Cameroon investment and potential consolidation of its financial results.
• Currency fluctuations in operating markets (e.g., African currencies) that could impact reported revenue and profit.
• Any new market entries or M&A activity that could expand VGI’s footprint.
• Regulatory changes in host countries affecting telecom operations or tax rates.