MWG posts record first-quarter profit surge

MWG posts record first-quarter profit surge

Strong retail sales and rising financial income lifted earnings for the company in the first quarter, its Q1 data show.

After Q1, the company has fulfilled 25 per cent of its revenue target and 30 per cent of its annual profit goal. — Photo thegioididong.com.vn

Mobile World Investment Corporation (MWG) has reported record after-tax profit of nearly VNĐ2.76 trillion (US$105 million) in the first quarter of 2026, up 78 per cent year-on-year, according to its latest financial statements.

The strong earnings came alongside steady growth in both core retail operations and financial income, as the company continued to optimise its large cash holdings in a higher-interest-rate environment.

In the January–March period, the retailer recorded more than VNĐ800 billion in income from deposits, lending and bonds, up 26 per cent from a year earlier. Financing expenses rose 28 per cent to VNĐ420 billion, mainly reflecting higher borrowing costs. Net profit from financial activities reached nearly VNĐ380 billion, up 23 per cent year-on-year, with the firm earning an average of more than VNĐ4 billion per day from these activities.

As of March 31, MWG held total cash, cash equivalents, bank deposits, bond investments and lending assets of over VNĐ48 trillion, slightly lower than at the end of 2025.

Bond investments and lending receivables totalled more than VNĐ21.8 trillion, down about VNĐ700 billion from the beginning of the year. Meanwhile, cash, cash equivalents and short-term deposits rose by roughly VNĐ300 billion to nearly VNĐ26.3 trillion.

The company has been allocating significant capital into higher-yield financial instruments in an effort to optimise cash flow. The strategy, first introduced in late 2022, has been expanded since 2024 and has delivered improved returns.

These gains have contributed to the group’s broader recovery under Chairman Nguyễn Đức Tài.

Net revenue in the quarter reached VNĐ46.508 trillion, up 29 per cent year-on-year, driven mainly by its core retail segments.

Revenue from electronics and technology retail chains, including Thế Giới Di Động, Điện Máy Xanh, TopZone, EraBlue and Thợ Điện Máy Xanh, totalled about VNĐ32.4 trillion, up nearly 34 per cent year-on-year. All domestic chains posted double-digit growth despite no new store openings during the period.

For 2026, MWG is targeting record net revenue of VNĐ185 trillion and consolidated after-tax profit of VNĐ9.2 trillion, up 18 per cent and 30 per cent respectively. After the first quarter, the company has achieved 25 per cent of its revenue target and 30 per cent of its full-year profit goal. 

Bizhub