On the eve of its 28th birthday (October 30, 1995 - October 30, 2023), Viettel Construction was honored to be announced by Vietnam Report as rising to position 206 in the ranking of Top 500 Most Profitable Enterprises in Vietnam 2023. This result is both a meaningful gift and an affirmation of the efforts of more than 11,000 Viettel Construction employees throughout the past journey.
In recent times, the Corporation has continuously welcomed Fund delegations and investors from many different countries such as the US, Canada, Singapore, Thailand, India,... with the goal of promoting cooperation opportunities in planning. Go Global plan, in the short term Viettel Construction will establish a representative office and the first Company in the Australian market.
At the meeting with Funds and investors, Mr. Pham Dinh Truong - General Director of Viettel Construction said that it is expected that by the end of 2023, the Corporation will be able to complete the revenue target set by the General Meeting of Shareholders for 2025 of 11,300 billion VND. . By 2025, Viettel Construction's revenue can reach greater than or equal to 15,000 billion VND and reach 25,000 billion VND by 2030.
Accumulated in the first 9 months of 2023, Viettel Construction achieved revenue of 8,104 billion VND (up 19% over the same period last year), completing 78.4% of the 2023 plan. Profit before tax reached 467 billion VND (increase grow 17% over the same period in 2022). Compared to the plan, Viettel Construction has implemented 76.1% of the profit plan for the whole year 2023.
Mr. Pham Dinh Truong - CEO of Viettel Construction
Looking back on the past 5 years, Viettel Construction has had impressive successes in growth despite factors such as the Covid-19 pandemic, supply chain disruption, world war,... This result comes from the Corporation's correct business strategy and risk management, combining cultural and system management elements.
Market opportunities and potential from all business sectors
Currently, Viettel Construction is doing business based on 06 key areas. Of which, the Operations and Operations (VHKT) sector contributed the largest proportion with 4,214 billion VND in the first 9 months of the year, an increase of 16% compared to the same period in 2022. The Construction sector contributed 2,286 billion VND in revenue after 9 months. , accounting for 28% and increasing 30% over the same period last year.
The proportion of revenue in 2023 will have a certain shift, especially the Construction sector increasing from 26% (2022) to 28% (2023) over the same period. For civil construction activities, Viettel Construction has signed 1,400 billion in B2B contracts, equivalent to 70% of the yearly plan. Besides, 1,067 B2C & SME contracts were signed after 9 months, worth nearly 750 billion VND.
Image of Viettel Construction employees at a civil construction project
The company continuously expands new investors in the real estate sector such as: HG Holdings, Danh Viet Group,... Household construction projects have reached a certain coverage so that people become familiar with them. with Viettel Construction's full construction service. Cumulative coverage rate for construction solid waste reached 656/701 districts (94%); 2,345/10,609 communes (22%).
For the Infrastructure Investment sector, the proportion of revenue shifts from 3% (2022) to 4% (2023). The company maintains its position as the No. 1 TowerCo in Vietnam with 5,720 BTS stations. When 5G technology explodes, Viettel Construction will have more opportunities to invest in new stations.
The difference of Viettel Construction is efficiency, specifically the payback period of Viettel Construction's infrastructure investment is about 5 years, pre-tax profit on revenue is about 20-30%.
The fields of Integrated Solutions and Technical Services simultaneously cross-exploit the Corporation's civil construction customer file through referral activities of households that have used it.
Disciplinary culture and management factors
The difficulties and fluctuations of the market in recent years have helped Viettel Construction practice and grow through challenges. This partly reflects the Company's disciplinary culture. Viettel Construction currently applies a set of 6 quality criteria with the following characteristics: Best attitude; Discipline is strictest; The best knowledge; Fastest adaptation; Best execution; Highest efficiency.
Consistency in management with a system of more than 11,000 people and 63 Branches, 400 District Centers: 3 Cores (Strategy, People, Execution), 4 Factors (People, Process, Technology , Administration); 3 Keys (Sales channel, Deployment channel, Quality control channel).