Company Insight

Mobile World Investment Corporation (HSX: MWG) is a leading retailer in Vietnam, offering an ecosystem that meets the diverse needs of customers. MWG maintains its position as the No. 1 mobile phone & electronics retailer in Vietnam (accounting for more than 50% of the total market); to be the consumer goods retailer, with the largest grocery store chain nationwide.

Update Q3.2024 business performance: Revenue and GP maintained positive results, reaching VND 34,147 billion (+12.7% YoY) and VND 6,892 billion (+21.4% YoY), respectively. Accumulated 9M2024, net revenue and NPAT reached VND 99,767 billion (+14.9% YoY) and VND 2,881 billion (~4.6x YoY), respectively, completing 79.8% and 120% of the 2024 target.

As the leader in retail sector stock, MWG is a worthy investment to keep the HOLD position thanks to: (i) Business results quickly turn around from the 2023 bottom. Positive economic growth, purchase demand improvement and the replacement cycle of ICT equipment will significantly boost MWG's revenue and profit in 2024 and 2025; (ii) Business results of the Bach hoa Xanh maintain robust growth with a brighter picture of positive profit. We update the current target price at VND 71,000, maintaining the HOLD position towards MWG ticker.