Mobile World Investment (MWG) Q2 2025 earnings summary

Executive summary

• H1 2025 revenue was VND73,754,927,078,179 versus VND65,620,563,383,519; net profit after tax was VND3,205,362,889,586 versus VND2,075,357,600,890.

• July revenue was estimated at VND12.8 trillion, up 16% YoY, with growth across TGDĐ/TopZone, Điện Máy Xanh and Bách Hóa Xanh.

• EY’s interim review found nothing indicating the statements were not fairly presented in all material respects; the review was not an audit.

Financial highlights

• Gross profit was VND14,769,111,275,361 versus VND14,020,330,112,599; operating profit was VND3,981,455,534,335 versus VND2,910,057,131,231.

• Profit before tax was VND3,962,866,142,596 versus VND2,722,246,358,473; parent-attributable net profit was VND3,194,083,337,645 versus VND2,074,714,080,022.

• Online sales reached nearly VND4.3 trillion in H1, equal to 6% of total revenue.

• Basic and diluted EPS were VND2,175 in H1 2025 versus VND1,419 in H1 2024.

Segment performance

• Mobile phones, laptops and electronic equipment generated VND50,091,282,489,603 in external revenue versus VND44,866,697,487,122; Foods and FMCGs contributed VND22,581,881,434,520 versus VND19,421,077,705,227.

• thegioididong and Điện Máy Xanh generated VND49.4 trillion in H1, up 12% YoY; Q2 revenue was VND25.2 trillion, up 10% YoY.

• thegioididong and Điện Máy Xanh had 3,038 stores at June-end, contributed 67.1% of total revenue and recorded same-store sales growth above 12% YoY.

• BHX revenue reached VND22.6 trillion in H1, up more than 16% YoY; Q2 revenue was VND11.6 trillion, up 13% YoY. It had 2,184 stores and VND1.2 trillion of H1 online sales.

• BHX opened 414 stores in H1, over half in the Central region; 2025 new stores achieved cumulative positive operating profit, with over 60% recording positive EBIT.