DIGIWORLD'S REVENUE REACHED A NEW RECORD IN THE FIRST QUARTER OF 2022, AND DOUBLED ITS PROFIT IN THE SAME YEAR
Digiworld Corporation – “DGW” announced its income for the first quarter of 2022 with net revenue and profit after tax of VND 7,009 and VND 211 billion, respectively. Revenue increased by 40%, profit before tax recorded a strong increase of 98% compared to the same period in the first quarter of 2021.
Thus, in only the first 3 months of 2021, Digiworld has successfully completed more than 26% of the year plan for both revenue and profit in 2022 plan: revenue of VND 26,300 billion, profit of VND 800 billion. Digiworld achieved these remarkable growths in the first quarter of 2022 thanks to the contribution of key products as follows:
Laptop & tablet segment:
In this first quarter of 2022, the laptop and tablet computer segment recorded the most outstanding growth. Specifically, this segment achieved revenue of VND 2252 billion, up 64% compared to the first quarter of 2021. This quarter, Digiworld recorded impressive growth due to holidays in the first quarter when there was high shopping demand, and the uptrend in consumer spending and income, giving this segment a decent growth. However, compared to the last 2 quarters, the growth rate of this segment in the first quarter has shrunk due to the sudden increase in market demand during the epidemic impact in the last 6 months of 2021. And the end of the first quarter of 2022, the laptop and tablet computer segment achieved 23% of the year plan.
Mobile phone segment:
This segment contributed the most to Digiworld's revenue structure in the first quarter of 2022. The revenue of the mobile phone segment was recorded at VND 3,880 billion, reflecting an increase of 37% compared to the same period in 2021. Similar to Laptop & Tablets, in the holiday season, Tet and the increase in income and spending in the first quarter of 2022, which is the peak season for Apple's iPhone products, and the launch of the Redmi Note 11, 11 Pro series in the middle of the quarter, creating a good effect in the market, and a good growth in this segment. Xiaomi's market share in the first quarter of 2022 maintained its third position, reaching nearly 12%, up nearly 2% over the same period, while Apple's market share reached nearly 9.8%, approximately the same period. By the end the first quarter of 2022, this segment achieved 31% of the year plan.
Office equipment segment:
The revenue of this segment in the first quarter of 2002 reached VND 806 billion, up 12% compared to the same period of 2021. The growth of this segment is also thanks to shopping motivations from holidays, Tet and an increase in income and spending similar to other ICT products. Besides the good growth of this segment, in the second quarter of 2022, it is expected that DGW will carry out business of household appliances of Whirlpool, Joyoung, expand Xiaomi product portfolio, which is expected to further improve business income. By the end of the first quarter of 2022, this segment achieved 21% of the year plan.
Consumer goods segment: This segment grew by -12% compared to the same period in the first quarter of 2021 and reached VND 71 billion. The reason for this negative growth is that the peak season for anti-epidemic has passed. DGW Covid-19 anti-epidemic products have not been profitable as before. FMCG products have not yet been created good impressions on sales channels. However, this segment is still has high potential for DGW in the next 5 years. And in 2022, DGW is building the necessary conditions (license and warehouse system) to serve the goal of becoming the Top 3 leading pharmaceutical distributors in Vietnam in the context of health becoming the top concern and Vietnam is increasingly accepting “new normal” to live with the epidemic.
The first quarter Unit: VND billion
Laptops and tablets
Profit after tax
Quarter 1 is the first quarter of 2022 and also the first quarter that Vietnam's economy is fully opening again for almost all industries. Tightening policies in most cities are reduced to the lowest level. The whole country accepts to live in the new normal. Besides, the impact of Covid - 19 consequences on income of consumers are also shrinking. In addition, now it is the peak shopping season with holidays. With the experience and solid foundation of a 25-year-old distributor, Digiworld has made the best use of market opportunities to continue to set new revenue records in the first quarter.
In the following quarters, the market might not see peak demand for technology commodities as in recent quarters. However, Digiworld believes that there will always be new opportunities, in line with the spirit which Digiworld's collective are aiming for in 2022: Be ready to explore the universe. Specifically, in the coming years, when Vietnam accelerates its process of digitization, 5G coverage, and with the shutdown of 2G, the ICT market will continue to be more bustling than ever. To take advantage of these opportunities, Digiworld with a solid foundation by continuous investments with the 3C strategy of Human - Facility - Technology will be in good position to absorb these opportunities.
And besides grasping market trends and opportunities, Digiworld will always actively create trends and opportunities for itself. Specifically, Digiworld embraces the spirit of "Love challenges" and constantly seek new partners in many other fields and industries to explore new potential, to pioneer and lead the market. The company makes great efforts to complete, or even exceed the target achieved – 26.3 trillion in revenue and 800 billion in profit.