CMC earns profit of 140% compared to its plan in the first 6 months of 2023
CMC makes its mark with promising numbers
As of 30 September 2023, CMC Corporation's revenue is estimated at VND 3,900 billion and pre-tax profit at VND 245 billion, completing 90% and 140% of the plans set for the first 6 months of the year, respectively. As Vietnam's economy is facing many difficulties due to the impact of economic recession and inflation, this is considered a positive result. Meanwhile, CMG is among the stocks with sustainable growth over the years with a very steady dividend policy. This comes from a stable business foundation with good growth rate maintained for years consecutively.
According to a representative of the Corporation, most of its business departments have achieved the goals planed for the first 6 months of fiscal year 2023; with plan completion rate of 130% at Digital Infrastructure Department and 101% at International Business Department, as well as many other desirable results.
"In the first 6 months of fiscal year 2023, overcoming the general difficulties of the domestic market, CMC's business areas all have made solid progress. We stay ready with flexible business and human resources strategies in place to adapt to all market fluctuations, and on the basis of which to create strong growth momentum in the coming third quarter ", said Mr. Nguyen Trung Chinh - Chairman of Board of Directors, Executive President of CMC.
President Nguyen Trung Chinh affirms that CMC always has the right business strategies in place to face difficulties of the market.
Digital Infrastructure (CMC Telecom, CMC Cyber Security) is currently the one department with the highest growth. Its revenue in the first 6 months of the year is 1,414 billion VND, with a profit of 130% compared to the plan. In the cause of assisting enterprises to successful digital transformation, CMC Telecom has been taking the lead and coming up with successful stories in sectors of Banking-Finance, Retail, Distribution, Logistic as well as other multinational corporations.
"The success in the first 6 months of 2023 have confirmed the initial results of shifting from telecommunications infrastructure to digital infrastructure with 5 spearhead services: Data Center, Cloud, Connectivity, Cyber Security and Managed Services. With that, CMC Telecom will continue to invest in high-quality human resources and the most modern and secure digital infrastructure in Vietnam to offer the best values and experience to its customers", affirmed Mr. Dang Tung Son - DCEO/CMO of CMC Telecom.
Technology & Solution Department has been maintaining its leading position to accompany many enterprises, organizations and government agencies in the last 30 years. CMC Technology and Solutions (CMC TS) is considered an expert in consulting and implementing digital transformation, cloud computing and security solutions in the market. Desiring to become the No.1 digital transformation and cloud computing service provider in Vietnam, CMC TS has come up with a strategy to promote the provision of digital transformation services and industry-focused solutions, such as digital banking & finance, smart manufacturing and solutions to improve customer experience.
In particular, with impressive achievements, the International Business department of CMC Global has a profit completion rate of 101% after the first 6 months of fiscal year 2023, and continue to maintain desirable growth in strategic markets, such as South Korea and APAC. With the goal of focusing deeply on potential markets, and constantly investing in new markets in the US and Europe, CMC Global is determined to promote its strengths in software export and IT services.
CMC Telecom at the Digital Transformation Week in Ho Chi Minh City, October 2023
On the other hand, CMC’s Research and Education Department so far has had many impressive achievements. As one of the "youngest" members of CMC Corporation, CMC Applied Technology Institute (CMC ATI) has made a big move with the creation of 20 core technologies, serving as the foundation for establishing an AI ecosystem for digital transformation. In particular, CMC ATI in collaboration with CMC Global has brought CIVAMS.FACE to the Asia Pacific (APAC) market through the Expo Cloud in Singapore, where the solution received the attention of partners not only in Singapore but also in the Philippines.
The kickoff of academic year 2023-2024 at CMC University attracts great attention from parents, students and enterprises, both domestically and internationally.
Just two years after its establishment, CMC University has managed to gradually build its image and prestige, gaining a lot of interest from parents, students, enterprises and international universities from Japan, South Korea, Australia, etc. In the 2023 entrance examination, over 7,000 candidates applied for CMC University; 1,000 of which have been admitted to the second intake at the university. In addition, the institution is also a pioneering digital university model in Vietnam. To date, university management process and operations as well as student services at CMC University have all been conducted on a digital platform.
Many impressive achievements confirm the position of CMC
In 2023, CMC set an ambitious target with a planned revenue of VND 10,205 billion and pre-tax profit of VND 484.6 billion, up 22% and 21% compared to the results of the previous year, respectively. Not only its business grows, its staffing scale is also expanded. By the end of the second quarter, the Corporation has nearly 5,500 employees, and it is expected that this number will increase to 10,000 globally.
"CMC people are committed to maintaining the role of an enterprise that leads the new wave of technology, constantly improves human resources quality, puts customer satisfaction as the top priority, accelerates revenue growth rate and brings sustainable investment values to shareholders. Thanks to that, we are able to have high growth rate and many products and services at the top of the market, which are highly appreciated by domestic and international customers as well as honored with prestigious awards. - said Mr. Ho Thanh Tung, General Director of the Corporation.
- In January 2023, CMC ATI became the Top 1 company at the 2022 Artificial Intelligence Solution Contest with C-ORC, a solution for comprehensive digitalization and digital transformation of documents and papers in image format.
- In April 2023, CMC Telecom won a double award at the Asian Telecom Awards.
- In April 2023, CMC TS was named a "Partner of the Year" by VEEAM.
- In May 2023, Minister of Information and Communications Nguyen Manh Hung awarded certificates of merit to 5 institutions and 5 individuals of CMC with outstanding contributions to the construction and development of the information and communications industry in Vietnam.
- In May 2023, CMC Telecom continued to become one of four Vietnamese representatives nominated for the title of "AWS Partner of the Year Vietnam" at the prestigious "AWS Partner Awards ASEAN 2023".
- In May 2023, CMC Global won Sao Khue Award – a 5-star rating for the software export category, marking the fourth consecutive year that CMC Global is honored at this prestigious award ceremony.
- In June 2023, CMC was ranked in Top 10 prestigious ICT companies in 2023.
- In July 2023, CMC TS won the "Microsoft Partner of the Year Vietnam" award.
- In August 2023, CMC has been honored in the Top 2 Vietnamese Technology Brands with the highest brand strength index in 2023, according to Brand Finance - the world's leading brand valuation consultancy.
- In September 2023, CMC Global was honored in the TOP 10 IT software and service exporters by Vietnam Software and IT Services Association (VINASA).
- In September 2023, CIVAMS - the face recognition solution developed by CMC Applied Technology Institute was honored as an innovative solution at Vietnam Innovation Award 2023,
- In September 2023, President of CMC Corporation Nguyen Trung Chinh was elected Vice Chairman of the National Cyber Security Association for the 2023 – 2028 term of office.
CMC Institute for Applied Research in Technology (CMC ATI) has brought to Techfest Nghe An 2023 many market-leading technology products.
In the 2023-2025 period, the goal of CMC is becoming a global, world-class company with revenue of 1 billion USD. CMC is consistent to its goal of being a leading digital transformation service provider in Vietnam to help domestic enterprises and organizations successfully achieve digital transformation, thus contribute to shaping the new cloud computing (Cloud) and SaaS (service software) market and being at the top of the cyber security market.
In the international market, CMC aims to become a leading IT service provider in Asia and later expands to other countries in the US and Europe. In addition to revenue strategy, CMC also strongly invests in research and development. Currently, CMC Applied Technology Institute (CMC ATI) has built an ecosystem of interactive technology products in five areas: Internet of Things/Smart Devices, Big Data, artificial intelligence (AI), Data Lake, and Blockchain - Security.