Digiworld Corporation - “DGW” announced its business results in Q2/2023, net revenue of 4,596 billion dongs, and profit after tax of 83 billion dongs, down 6% and 39% respectively compared to the same period in 2022. However, compared to the previous quarter of Q1/2023, Digiworld recorded positive growth with 16% increase in revenue and 5% increase in profit.

According to the above results, by the end of the first 6 months, Digiworld has achieved VND8,556 billion in revenue and VND162 billion in profit, completing 43% of the revenue plan and 41% of the 2023 profit plan. Digiworld recorded the above 2nd quarter business results thanks to the contributions of core industries:

• Laptop & tablet: this continues to be one of the key industries and contributes significantly to Digiworld's revenue in the second quarter of 2023 with revenue of VND 1,342 billion, up 19% over the same period last year. Compared to other quarters of the year, the second quarter is usually the low quarter, however, this quarter still recorded double-digit growth, namely 23% compared to the previous quarter (Q1/2023) thanks to the market performance recording more positive results when interest rates fell and buying power from agents when buying and storing goods for the back-to-school season in the upcoming 3rd quarter. Thus, by the end of the second quarter, this segment has completed 44% of the year plan.

• Mobile phone: this is always the largest revenue contributor to Digiworld in not only the previous quarters but also the 2nd quarter of 2023. It reached a revenue of VND 2,190 billion, down 19% compared to the same period in 2022. However, compared to Q1/2023, the mobile phone segment recorded growth of 15%. This positive signal proves that the market and consumers' purchasing power are gradually recovering even though the second quarter is considered the low quarter of the year. Contributing to the growth of this segment in the second quarter was also the presence of new products from Xiaomi. At the end of this quarter, the mobile phone industry completed 47% of the year plan.

• Office equipment: this segment achieved 728 billion dongs in revenue, down 17% compared to the same period in Q2/2022, but up 7% compared to the previous quarter (Q1/2023). The reason for the decline in growth over the same period can be attributed to the impact of the economy's difficulties, causing not only individual consumers but even businesses to limit spending and innovation device. By the end of the second quarter of 2023, this segment has completed 37% of the year's plan.

• Home appliance: in the second quarter of 2023, this industry has a revenue of 166 billion VND, recording a strong growth of 54% compared to the same period in 2022. This is a new industry Digiworld has put into business since the beginning of 2022 besides other important industries such as ICT. In the last 2 quarters, Digiworld also diversified the products of this industry by selling products of the new brand: Westinghouse of the US. According to business results, this industry is gradually recording more impressive numbers every quarter as confirmation that Digiworld's existing brands are gradually being known and trusted by consumers after spending time with the company's previous market research. By the end of Q2/2023, the home appliance industry has completed 36% of the year plan.

• Consumer goods: this industry achieved a revenue of 170 billion dongs, a strong growth of 83% compared to the same period in Q2/2022, and a growth of 42% compared to the previous quarter of 2023. The growth of this segment in Q2 mainly comes from the fact that from the beginning of 2023, Digiworld entered the beverage industry, partnering with two giants, ABInbev and Lotte Chilsung to distribute a variety of brands and products such as beer, milk, juice, etc. At the end of the second quarter, this segment completed 28% of the plan in 2023.

Quarter 2/2023 Unit: billion dongs

The second quarter of the year is considered a low quarter for the ICT industry and the situation is even more difficult when Vietnam in general and consumers are affected by the global economic crisis. However, in the last quarter, Digiworld has gradually recorded more positive recovery signals. Digiworld achieved positive growth compared to the first quarter of 2023 in all categories, including two categories that are considered to be saturated, namely the Mobile phone industry and the Laptop and tablet industry (2 growth respectively double-digit of 15% and 23%). Besides the main contributions from core industries, new brands, and products in Digiworld's existing industries also recorded impressive growth, which is a new factor driving the growth of revenue and profit of Digiworld higher every quarter. It helps affirm the strategy of constantly expanding both horizontally and vertically, expanding both categories and a set of brands and products that Digiworld is pursuing correctness.

Through the changes in the market and the business results of the past 2nd quarter, Digiworld also noticed the recovering rays of consumer spending compared to the previous time. Therefore, in the following quarters, Digiworld expects to have a stronger recovery thanks to the shopping momentum from events such as the Back-to-school season and the new product launch season of brands such as Apple's new iPhone. At the same time, Digiworld also plans to continue expanding to boost growth with the presence of a new mobile phone brand in the third quarter. Digiworld as well plans to cooperate with new beverage brands in the near future, in line with the spirit of “Love challenges” throughout every DGWers. Digiworld’s team will flexibly capture the market, creating opportunities to conquer difficulties with our own capacity and experience.