QUARTER 3/2023 DIGIWORLD ACHIEVES REVENUE OF 5,413 BILLION VND, RECORDING IMPRESSIVE GROWTH IN THE CONSUMER GOODS INDUSTRY
Digiworld Corporation - “DGW” announced Q3/2023 business results, net revenue of 5,413 billion VND, profit after tax of 102 billion VND, down 11% and 43% respectively compared to same period 2022.
According to the above results, by the end of 9 months of 2023, Digiworld has achieved VND 13,969 billion in revenue and VND 265 billion in profit. Thus, by the end of the third quarter, Digiworld had completed 70% of the revenue plan and 66% of the profit plan. Digiworld achieved the above business results for this quarter thanks to the contribution of core industries:
Laptop and tablet industry: recorded revenue of VND 2,398 billion, down slightly by 2% over the same period. When compared to the previous second quarter, Digiworld recorded positive signs because of recording growth of 79%. The positive revenue achieved by this industry comes from the fact that the third quarter is the peak season for purchasing laptop products for students to prepare for the new school year. Thus, at the end of the third quarter of 2023, this industry recorded a total revenue of 4,834 billion VND, completing 88% of the year plan.
Mobile phone industry: in contrast to laptops, the third quarter is the low point of the mobile phone industry when consumers reduce spending to prepare for replacing phones in the next quarter – Q4/2023, the hot quarter with new product launch events of many phone companies such as Apple, Xiaomi, etc. In the third quarter, this industry earned revenue of 1,774 billion VND, down 26% over the same period and down 19% over the previously quarter – Q2/2023. Summarizing the 9 months of 2023, the mobile phone industry has brought in 5,863 billion VND in revenue, completing 67% of the year's plan.
Office Equipment industry: revenue reached 907 billion VND, this is a business result equivalent to the same period and a growth of 25% compared to the previous quarter. The office equipment industry owes this growth to the fact that Digiworld completed the acquisition of 75% of Achison company, whereby the revenue of Achison's labor protection equipment products was merged with Digiworld. Thus, at the end of the third quarter, this industry recorded 2,317 billion VND, completing 60% of the year's plan.
Home appliances industry: recorded a decrease of 20% over the same period, reaching revenue of 163 billion VND. The reason for the decline in revenue in the third quarter in the home appliance segment came from the effects of a difficult economy and consumers tightening their spending. Besides, this industry also seems to be somewhat affected by the gloom of the real estate market during the past time.
Consumer goods industry: achieved impressive growth of 78% over the same period, revenue reached 171 billion VND. This growth mainly comes from Digiworld entering the beverage industry and distributing high-end beer products from ABInbev as well as milk soda and juice products from Lotte Chilsung. At the end of 9 months of 2023, this industry has earned 461 billion VND, also a sharp increase of 77% compared to 9 months of 2022.
Quarter 3/2023 Unit: billion
Laptop and tablet
Thus, after 9 months of 2023, Digiworld has achieved total revenue of 13,969 billion VND, profit after tax of 265 billion VND, equivalent to completing 70% of the yearly plan for revenue and 66% of the yearly plan for profit after tax. Positive results in the third quarter are due to factors such as increased shopping during peak laptop shopping seasons such as back-to-school season or increased demand from the mobile phone industry when companies contribute a lot of revenue for Digiworld such as Apple, Xiaomi,... take turns releasing new products. In addition, new brands such as Budweiser, Corona, Beck, Milkis,... from ABInbev and Lotte Chilsung also contributed significantly to Digiworld's revenue this quarter.
In the last quarter of 2023, with shopping motivation for the end of the old year and the beginning of the new year and programs for consumers as well as the heat of advanced new products from brands, Digiworld hopes the 4th quarter will continue to record positive signals for revenue and profits.