Digiworld: Net revenue increases by 63%, net profit increases by 80% in the 1st quarter of 2020

DGW’s laptops, tablets and mobile phones sales has grown dramatically during the Covid-19 season.
Digiworld Corporation (HOSE: DGW) has just released its estimated business results for the first quarter of 2020, with revenue of VND 2,237 billion and net profit after tax of VND 45 billion, respectively increasing by 63% and 80% over the same period last year. This is also the record ever of first quarter sales in DGW’s history.
In particular, the estimated sales of DGW’s laptop and tablet is reported at around VND 791 billion, growed by 69% year on year thanks to robust laptop demand products for learning and working remotedly after the Gorverment is executing social distancing to prevent the spread of the Covid-19 .
The mobile phone sales is estimated at VND 1,142 billion, growed by 96% over the same period. According to DGW, in spite, this market has been relatively matured in terms of volume and value, the Company has still grown significantly, thanks to effective market development activities for Xiaomi. In 2020, DGW aims to bring Xiaomi’s market share to 10% for the whole year.
This year, the Company targets VND 10,200 billion in sales and VND 202 billion. Thus, after the first business quarter, DGW has achieved approximately 22% of the revenue and profit plan for the year 2020.
Regarding the current situation of the Covid-19 epidemic, DGW stated: “In every stage of development, DGW is always consistent with the 3C strategy - ‘Con nguoi’ (‘Human Resource’), ‘Cơ sở’ (‘Infrastructure’) and ‘Cơ hội’ (‘Opportunities’). Especially, the factor ‘Human resource’ is the most important and the “backbone” of the Company. In this economic crisis, despite many challenges, DGW’s management commits not to lay offs or salary cut until the end of quarter 2/2020. ”
(by: vietstock; translated by DGW IR)