Mobile World Investment (MWG) Q3 2024 earnings summary

Executive summary

• Net revenue for the nine-month period ended 30 September 2024 reached VND 99.77 trillion, up 14.8% year-over-year, with net profit after tax attributable to shareholders at VND 2.87 trillion, a significant increase from VND 77.4 billion in the prior year period.

• The Group operates across retail electronics (The Gioi Di Dong, Dien May Xanh) and grocery (Bach Hoa Xanh), with a workforce of 60,258 as of 30 September 2024.

Financial highlights

• Gross profit for the nine-month period was VND 20.91 trillion, up from VND 16.33 trillion year-over-year.

• Operating profit reached VND 4.23 trillion, compared to VND 555.6 billion in the same period last year.

• Net cash flows from operating activities surged to VND 8.39 trillion from VND 2.27 trillion year-over-year.

• Total assets increased to VND 66.9 trillion as of 30 September 2024, up from VND 60.1 trillion at year-end 2023.

• Owners' equity rose to VND 27.28 trillion, up from VND 23.36 trillion at 31 December 2023.

Outlook and guidance

• Management confirmed the financial statements present a true and fair view and the Group continues as a going concern.