Yeah1 Group (YEG)'s recently released financial report shows revenue reached 455.7 billion VND, more than double that of Quarter II/2024. This is also the highest level since the last quarter of 2018, before the company's partnership with YouTube was suspended.

Management said this quarter saw strong growth in advertising, events, music programs, and popular entertainment content. In Quarter II, Yeah1 organized a concert for the program "Sisters Who Make Waves" and two concerts for "Brothers Who Overcome Thousands of Obstacles". All tickets sold out, numbering in the tens of thousands.

In addition, they broadcast two new shows: "Almighty Rookies", which searches for a new generation boy band, and "Haha Family", which introduces the beauty, culture, and specialties of different regions. Both attracted many sponsors. "Haha Family" is attracting millions of views, with content being widely discussed on social media and in the media.

5 artists and locals experience farming in Lao Cai in "Haha Family". Photo: Yeah1

5 artists and locals experience farming in Lao Cai in "Haha Family". Photo: Yeah1

After deducting the cost of goods sold, YEG's gross profit was nearly 55 billion VND, a 3.2-fold increase compared to Quarter II of the previous year. The gross profit margin improved from 8% in the same period to 12%.

However, financial operating income this quarter dropped nearly eightfold to over 5 billion VND. The main reason was the lack of profit from divestment of a subsidiary and a decrease in interest income from deposits. They currently have more than 179 billion VND deposited in banks.

Regarding recurring expenses, the majority was the cost of external services at over 568 billion VND, more than double the same period last year. In addition, the company also spent over 44 billion VND on employee expenses, a 7.5% increase.

Overall, Yeah1 reported a profit of nearly 33.3 billion VND in Quarter II. This figure is 3.5 times higher than the same period last year. Excluding the one-off profit from the divestment of a subsidiary in Quarter IV/2021 and Quarter IV/2024, this is their highest profit since 2018, the period before the crisis.

Yeah1 is one of the few media companies listed on the HoSE. The company experienced a period of decline, losing hundreds of billions of VND and attempting to pivot to e-commerce unsuccessfully.

This year, Yeah1 plans for revenue of about 1,300 billion VND and a post-tax profit of 140 billion VND, an increase of nearly 27% and over 14% respectively. If successful, this would be the highest revenue since 2020 and the second-highest profit in the company's history, second only to 2018.

After six months, the company recorded over 673 billion VND in revenue and 56.5 billion VND in post-tax profit. Both more than doubled compared to the same period last year. They have completed more than half of their revenue target and over 40% of their profit plan for the year.

Tat Dat