Mobile World Investment Corporation (stock code: MWG) reported revenue of over 99.8 trillion VND for the first eight months of the year, a nearly 14% increase compared to the same period last year. The company has achieved 67% of its annual revenue target of 150 trillion VND.
The electronics store chain contributed over 44.5 trillion VND, while the phone chain brought in over 22.55 trillion VND. Mobile World's management stated that August is typically a slow sales month, but sales remained on an upward trend, primarily due to strong performance in categories like laptops and electronics.
For the grocery chain, Mobile World earned nearly 30.5 trillion VND during the eight months. After a period of cost optimization during the rainy season, this chain regained its revenue growth trajectory with an improvement of about 4% per month. The primary growth drivers were fresh food and fast-moving consumer goods.
Mobile World also reported positive results from its pharmacy and mother-and-baby product chains, with average monthly revenues of 1.8 billion VND and 530 million VND, respectively. The joint venture electronics chain in Indonesia experienced the highest growth among the company's retail chains, with a 70% increase in revenue compared to the same period last year.
As of the end of August, Mobile World's retail system comprised nearly 5,800 stores. The grocery and electronics chains accounted for the majority, with 2,233 and 2,023 stores, respectively.
At last month's investor meeting, Nguyen Duc Tai stated that they "have found a model to expand nationwide" for the grocery chain. The company plans to open an additional 200 stores for this chain in the final months of the year.
In a report released at the end of August, analysts at SSI Securities Incorporated forecast a 10% increase in Mobile World's revenue this year, reaching 148.4 trillion VND. Next year's revenue is projected to increase more significantly (15%), to 171 trillion VND, driven primarily by the grocery chain, while the phone and electronics chains are expected to slow down after a strong recovery period.
Analysts at KB Securities Vietnam also provided a fairly similar business performance forecast. However, regarding the stock price outlook, KB Vietnam is more optimistic, expecting a target price of over 90,100 VND, approximately a 15% increase from the current price range (78,600 VND). SSI also suggests a reasonable price of 87,000 VND within the next year.
Phuong Dong
