GREW OVER 50% FOR THE THIRD CONSECUTIVE QUARTER, DIGIWORLD ACHIEVED A NEW REVENUE RECORD IN THE 1ST QUARTER OF 2020

GREW OVER 50% FOR THE THIRD CONSECUTIVE QUARTER, Digiworld achieved a new revenue record in the 1st quarter of 2020.

Ho Chi Minh City, April 20th 2020, Digiworld Corporation (DGW) released business results for the first quarter of 2020 as below:

  • Q1/2020 revenue: reached VND 2,311 billion, increased 68% year on year.
  • Q1/2020 net profit: reached VND 44,8 billion, rose 83% year on year.

Growth came from all product groups, especially Laptop and Mobile phone with 69% and 96% year on year growth. Specifically, Digiworld’s Q1 / 2020 business result is broken down as follows:

  • Laptops and Tablets: recorded robust growth with VND 791 billion revenue, boosted 69% year on year thanks to rising demand for studying and working from home during the COVID-19 outbreak.
  • Mobile phones: revenue reached VND 1,142 billion, up 96% year on year thanks to a number of new models launching earlier this year.
  • Office equipment: revenue reached VND 315 billion, increased 31% over the same period last year. This segment is expected to enjoy long-term growth with the ongoing digital transformation trend. Especially, during the COVID – 19 pandemic, work from home demand has promoted this segment to a steady-state growth.
  • Consumer goods: Revenue reached VND 63 billion, a slight increase of 19% compared with same period last year from current brands.

Unit: VND billion

Net revenueQ1/2020Q1/2019% Compare with same period% PlanPlan
Laptops and Tablets79146869%25%3,150
Mobile phones1,14258496%24%4,850
Office equipment31526718%19%1,700
Consumer goods635319%13%500
Total2,3111,37268%23%10,200
Net Profit44.824.583%22%202

At the end of Q1/2020, profitability indicators of Digiworld were remarkably improved. Accordingly, the gross profit margin of QI/2018 was 5.7%, QI / 2019 was 5.9% and QI / 2020 was 6.2%; the net profit margin of QI/2018 was 1.5%, QI / 2019 was 1.8% and QI / 2020 was 1.9%. The quality of revenue growth as high as it had been seen positive operating cash flow for 3 consecutive quarters, total net revenue increased by 69% but receivables only increased by 29%. Liabilities are also safely controlled at around VND 500 billion compared with nearly equities VND 1000 billion and VND 91 billion in cash.

Attached: Consolidated financial statements QI/2020