Company Insight

Mobile World Investment Corporation (HSX: MWG) is the leader in Vietnam's retail sector, offering an ecosystem to meet the diverse needs of customers. With more than 5,500 retail stores nationwide, MWG maintains an unmatched lead in the Vietnamese retail market for mobile phones and electronics. By using DCF and PS valuation methods, we update our recommendation as a HOLD, with the updating target price of VND 50,000.

Update MWG's plan at the 2024 AGM: Target net revenue and NPAT of VND 125,000 billion (+5% YoY) and VND 2,400 billion (+1,329% YoY), respectively. Cash dividend at the rate of 5%.

MWG is worth a HOLD investment position because: (i) Business performance in 2024 is expected to strongly bounce up from the low base of FY2023 (due to the selling price war and weak in demand consumption); (ii) Bach hoa Xanh chain keeps up positive sales growth, targeting a net profit result.