Mobile World Investment (MWG) Q4 2025 earnings summary

Executive summary

• FY2025 reported revenue was VND156.458 trillion, up 16.5% YoY and 104% of target; net profit was VND7.075 trillion, up 90% and 146% of target. Audited net revenue was VND155.928 trillion and net profit after tax VND7.073 trillion.

• Online sales totaled VND9.1 trillion in 2025, nearly 6% of total revenue.

• EY issued an unmodified opinion on the consolidated financial statements under Vietnamese Accounting Standards and statutory requirements.

Financial highlights

• Gross profit was VND31.002 trillion versus VND27.499 trillion; operating profit was VND8.664 trillion versus VND5.227 trillion.

• Profit before tax was VND8.633 trillion versus VND4.826 trillion; parent-attributable net profit was VND7.034 trillion versus VND3.722 trillion.

• Year-end assets totaled VND83.946 trillion, liabilities VND50.770 trillion and owners’ equity VND33.176 trillion.

• Operating cash flow was VND6.096 trillion versus VND8.517 trillion; cash and cash equivalents closed at VND5.000 trillion.

Outlook and guidance

• 2026 targets: revenue of VND185 trillion, up 18% YoY, and net profit of VND9.2 trillion, up 30%.

• Điện Máy Xanh targets 15% revenue growth and 20% profit growth, contributing ~65% of revenue and ~80% of net profit.

• Bách Hóa Xanh targets revenue growth above 20%, ~30% of revenue and nearly 20% of net profit; plans ~1,000 store openings.

• EraBlue targets 300+ stores and 30% revenue growth in 2026.