Vietnam's top retailer MWG targets 30% profit growth this year, $10 bln sales by 2030

Mobile World Investment Corporation (HoSE: MWG) set net profit goal at VND9.2 trillion ($349.4 million) this year, up 30% year-on-year, as the leading Vietnamese retailer accelerates separate plans for its core subsidiaries.

At its AGM on Saturday, MWG outlined a revenue target at VND185 trillion ($7.03 billion) in 2026, up 19% from last year. It also eyes $10 billion in annual sales by the end of 2030.

The company said preliminary first-quarter revenue reached around VND46-47 trillion ($1.75-1.79 billion), completing roughly a quarter of its full-year plan. Profit in the period is estimated to have achieved 29-30% of the year's target, indicating a strong start to the year.

The retailer reported 2025 revenue of VND155.93 trillion ($5.92 billion), up 16% year-on-year, while net profit nearly doubled to VND7.07 trillion ($268.63 million), supported by operational improvements and recovery in consumer demand.

Based on the result, the company proposed a cash dividend payout of 20%, equivalent to VND2,000 (76 U.S. cent) per share, to be paid in two tranches in the Q3-Q4. With nearly 1.47 billion outstanding shares, total payout is expected to reach nearly VND3 trillion ($113.94 million), the highest in its history.

Mobile World also plans to issue more than 7.3 million shares under an employee stock ownership plan (ESOP), equivalent to 0.5% of shares outstanding, at a price of VND10,000 ($0.38) per share.

As of the end of 2025, the group operated 6,225 stores nationwide across chains such as The Gioi Di Dong, Dien May Xanh, and Bach Hoa Xanh, alongside smaller formats in pharmaceuticals and mother-and-baby products.

In a notable move, the company added real estate as a registered business line. General director Vu Dang Linh said the group owns significant warehouse assets and has begun leasing them out, requiring formal registration to comply with regulations.

A key strategic focus for 2026 is the planned initial public offering (IPO) of its consumer electronics chain Dien May Xanh. The unit is expected to issue about 180 million shares, or more than 16% of its outstanding stock, with the offering slated for later this year pending regulatory approval.

Dien May Xanh currently has charter capital of VND11 trillion ($417.77 million), which is expected to rise to VND12.81 trillion ($486.44 million) following the IPO. The company said documentation for the listing has largely been completed.

MWG also plans to accelerate expansion of its grocery chain Bach Hoa Xanh in northern Vietnam, as it seeks to diversify growth drivers amid evolving consumer trends and global economic uncertainties.