7% growth - a valuable number in a challenging context
Last year, the total revenue of the Group reached VND 58,540 billion, of which the Parent Company's revenue reached VND 41,995 billion, reaching 100.1% of the plan, up 7% over the same period in 2023. VNPT's consolidated pre-tax profit in 2024 reached VND 6,086 billion, of which the Parent Company's pre-tax profit reached VND 4,565 billion, reaching 103.3% of the plan, up 3% over the same period in 2023. VNPT's consolidated state budget payment in 2024 reached VND 5,484 billion, of which the Parent Company is expected to reach VND 4,137 billion, reaching 106.4% of the plan, up 36.5% over the same period in 2023. The Group's pre-tax profit margin on equity reached 8.35%; in which the profit after tax/equity ratio of the parent company is 6.5%, an increase of 29.5% compared to the plan.
According to the leader of VNPT Group, the 7% revenue growth figure, although modest, is especially valuable in the context of an increasingly challenging market with many changes in market management policies, policies to stop developing new SIM cards through agents, and signs of slowing down public investment in digital transformation projects, etc. With these pressures, the fact that VNPT has both fulfilled the responsibilities of one of the country's key technology corporations and ensured the maintenance of production and business activities is no small achievement.
Recognizing the above difficult challenges as well as finding opportunities from that context, VNPT Group determined to continue to strengthen the capacity of telecommunications - information technology infrastructure in the direction of updating new technologies such as artificial AI, IoT, Cloud, 5G... and especially information security.
In the past year, in addition to continuing to improve the capacity of the 4G network, VNPT has officially launched VinaPhone 5G. Up to now, Vinaphone 5G has been present in 63 provinces and cities nationwide, focusing on coverage and service provision in key socio-economic areas such as District/County Administrative Centers, industrial parks, seaports, airports, schools, hospitals, and tourist areas.
Last year, VNPT has been searching for new products, promoting revenue sources from new growth areas with many remarkable successes: Information security sector grew by 58% over the same period; achieved CREST certification for information security products and services - one of the most prestigious certifications that very few businesses and organizations have achieved today; Artificial intelligence sector also grew by 60% over the same period with outstanding products: AI cameras for smart cities, GenAI in customer care call center analysis; Generative AI technology (GenAI) for Vietnamese language of VNPT for many consecutive months topped the Vietnamese Language and Speech Processing 2024 rankings. In addition, VNPT has also put into operation a comprehensive digital agriculture ecosystem to meet the diverse needs of customers from the government to businesses, cooperatives, farmers... on 2 platforms: AIMS and VNPT Green.
Optimize operations through enhanced innovation of service model and planning
One of the strategic and key tasks of VNPT in 2024 and the following years is to develop action programs to realize the goals set out in the Project to restructure VNPT Group until the end of 2025 and the Group's Development Strategy until 2030, with a vision to 2035 approved by the Prime Minister. Accordingly, in 2024, VNPT focused on implementing the orientation of innovating the production and business organization model with the motto of taking customer needs and experiences as the foundation to digitize operations, bringing the entire business operation process to the digital environment, and improving customer experience.
In 2024, the Group will orient, plan, and develop key strategic products (mobile, Smart Home, MyTV, service products/enterprise digital ecosystems) to adapt to the market and have achieved many encouraging results, such as: VNPT eKYC based on AI platform reaching 1 billion requests in Vietnam; launching the comprehensive VNPT Cloud ecosystem, providing diverse services from the platform layer to the infrastructure layer, serving many different customer segments.
At the same time, VNPT Group also continues its strategy of cooperation and companionship with the Government, Ministries, Branches, Provincial/City People's Committees and large Corporations/Groups to build national digital transformation solution platforms. Identifying national data as one of the focuses of digital government, VNPT has deployed comprehensive data integration and connection for the OneGov ecosystem; Upgrading the National Population Database System, the National Database System on cadres, civil servants, public employees... deploying Data Warehouse, specialized databases: Land, Health, Education, Social Security, Construction, Industry and Trade, Culture, Sports and Tourism,.... VNPT has participated in providing solutions to meet 31/44 pilot models of Project 06/CP.
In 2025, the country will have many innovations to move towards a new era, an era of national growth. VNPT Group determines that, in order to fulfill the mission of a leading technology group that always accompanies the development of the country, and at the same time, to be able to deploy tasks and solutions in the Development Strategy to 2030, vision to 2035, first of all, the production and business plan goals to 2025, VNPT Group will continue to invest systematically in technology and people, improve management capacity, build a flexible corporate culture and expand cooperation with partners.
