With FAST500 2020 rankings - a new order of the rankings of "talented" businesses in the business sector is repeated. Among these, Viettel Construction Joint Stock Corporation (CTR stock code) stands out in terms of upgrade speed.
Growth rapidly, VCC "jumps" a hundred steps
Vietnam Report has just officially announced the FAST500 Ranking - Top 500 fastest growing enterprises in Vietnam in 2020.
The leading businesses have gone through rigorous and serious selection rounds, based on independent research and evaluation results from the organizers. Not emerging names, businesses are considered based on average revenue growth (CAGR) over the last 4 years.
Along with that are other criteria such as assessing the business efficiency of total assets, profits, efficiency of capital use, efficiency of asset use ...
With FAST500 2020 rankings - a new order of the rankings of "talented" businesses in the business sector is repeated. Many of these enterprises stand out in terms of speed.
In particular, Viettel Construction Joint Stock Corporation is the name that gets a lot of attention. With the position 103, the growth ranking of Viettel Works this year has increased to 118 levels compared to 2019.
Talking to the reporter, Mr. Pham Dinh Truong - CEO of VCC said: “This is a significant step forward after many efforts of the company's staff and employees. The new rank is also the result of the Corporation's methodical investment and sound business strategy. However, we only see this as an initial step and we are continuing our efforts for sustainable growth ”.
Also according to Mr. Truong, many years in the FAST500 ranking, this shows the stable performance, long-term development potential of the Corporation is very big.
The increase of hundreds of ranks in the FAST500 ranking in 2020 represents a significant step forward after many efforts of VCC's officials and employees.
“This result is one of the positive signals to help VCC more firmly in the process of realizing the goal by 2025, becoming the No. 1 TowerCo in Vietnam” VCC CEO emphasized.
Looking at the FAST500 rankings in 2020, Viettel works can be seen ahead of a series of big names in the field of infrastructure construction in Vietnam. If considered separately in other construction activities, among the 15 businesses with the fastest growth, Viettel Construction holds the No. 6 position.
This ranking also noted the presence of industries with high revenue growth in the telecommunications and information technology sector. This is one of the strengths of VCC.
Viettel Construction and long-term potential
With the advantage of being the leading telecom construction unit in the country under the Group (Viettel), the business of VCC has been growing rapidly and sustainably since 2012.
In 2019, VCC achieved revenue of VND 5,046 billion - an increase of 18% compared to 2018 and profit after tax of VND 180.9 billion - an increase of 23%. Cash flow for production and business activities was VND 680 billion, owner's equity increased from VND 776 to VND 882 billion. By the end of the first quarter of 2020, total assets reached VND 2,670 billion, an increase of VND 221 billion compared to the beginning of the year.
Previously, if you look back on the whole process of formation and development of VCC, you will see the remarkable efforts of the leaders of officials and employees. If the revenue in the first period (2000-2005) was only VND 28 billion, it would have reached VND 3,000 billion in the next period (2005-2009).
In the recent period (2010-2017), the Corporation's revenue has reached a record level of VND 13,805 billion. In the following years, from 2018-2019, VCC's revenue is about VND 4-5,000 billion. The growth continues to have higher expectations with the target of VND 6,000 billion in revenue, VND 254 billion in after-tax profit in 2020 and the number 1 target for leasing telecommunications infrastructure by 2025.
The stock price has clearly expressed its "health" and the long-term potential of VCC. In 2019, the price of CTR stock increased impressively by 96%, much higher than the growth rate of VnIndex, ranked in the top 15 companies with the best growth rate of stock prices in Vietnam.
CTR is also the second enterprise among 10 enterprises on Vietnam's stock exchange with market capitalization of over VND 1,000 billion and price increase fluctuations of over 100%.
Regarding the industries with good growth potential in the next three years, Top 5 industries are evaluated by most potential businesses FAST500, in which the first place is Telecommunications - Information Technology.
This trend is in line with the vision of VCC which is to "Become the most effective investor, operator and provider of smart products and services", carry out the mission "Promote 4.0 industrial revolution to the businesses, households”.
VCC has built a system of telecommunication networks in the country with more than 50,000 BTSs.
Over 25 years of development and accompanying with enterprises - people, the Corporation has built the domestic telecommunication network infrastructure system with more than 50,000 BTSs and 320,000 km of fiber optic cable (equivalent to 8 times of the equator), covering 100% of Vietnam's territory, including islands and remote areas.
The Corporation also pioneered in building telecommunication infrastructure in 10 countries in Asia, Africa and America. From a pure construction unit, becoming a corporation providing services on technical and technological platforms with a scale of nearly 10,000 people, with the mission of accompanying "Create a New Life" with the businesses across the country and the world.
Credited: Nhịp sống kinh tế