Viettel Post seeks transformation from delivery company to cross-border logistics operator

Viettel Post is trying to change its identity from a delivery business into a cross-border logistics operator, even as the transformation weighs on short-term profit. The company reported net revenue of 10.34397 trillion Vietnamese dong in the first six months of 2026, up 3.2% from the same period in 2025. Gross profit rose 3.23% to 559.10 billion dong.

Net profit moved in the opposite direction. Consolidated after-tax profit reached only about 107.75 billion dong, down 35.21% year on year. Viettel Post attributed the decline to higher input costs, especially fuel and operating expenses, as well as continued restructuring and investment in new operating capacity.

The company is also seeing lower revenue from telecommunications operations. It linked the decline to the digitization of sales, transactions and customer care, along with a leaner telecommunications distribution network. As physical distribution and traditional operating needs fall, Viettel Post is directing more resources toward what it describes as the backbone of its logistics strategy.

In the first half, construction in progress more than doubled from the start of the year. A significant share went to the Da Nang Logistics Center in the Lien Chieu Industrial Park. The 8.6-hectare center will have more than 39,000 square meters of warehouse space for sorting, storage, fulfillment and distribution.

Viettel Post has also been approved as the investor for the 7.87-hectare Kim Thanh smart border gate project in Lao Cai, which carries an investment of more than 860 billion dong. The project is expected to improve scanning, transshipment, customs inspection and the movement of express shipments between Vietnam and China. The company’s regional network includes Unitel Logistics in Laos and Metfone Express in Cambodia.

The article describes the strategy as a long-term bet. Core logistics revenue grew by nearly 40% in the first half, and Viettel Post expects consolidated revenue to rise 10.9% year on year in the third quarter, with core logistics revenue projected to increase 39.9%.