Producer of "Gia đình haha" show turns major profit

The newly released financial report from YeaH1 Group (YEG) shows that revenue reached 455.7 billion VND, more than double that of Q2 2024. This is also the highest revenue since late 2018, before the company's collaboration with YouTube was suspended.

The company's leadership stated that this period saw strong growth in advertising, event and music show organization, and hit entertainment content. In Q2, YeaH1 produced a concert for the show "Chị đẹp đạp gió" as well as two concerts for "Anh trai vượt ngàn chông gai." All events sold tens of thousands of tickets.

Additionally, they aired two new shows: "Tân binh toàn năng," a search for the next generation of boy bands, and "Gia Đình Haha," which highlights the beauty, culture, and. specialities of various regions. Both shows attracted numerous sponsors. "Gia Đình Haha" alone has garnered millions of views and its content has been heavily discussed on social media and other media outlets.

Five artists and local residents in Lào Cai experience farm life in "Gia Đình Haha." Photo: YeaH1

After deducting the cost of goods sold, YEG's gross profit was nearly 55 billion VND, a 3.2-fold increase compared to Q2 of the previous year. The gross profit margin improved from 8% to 12% year-over-year.

However, financial activities revenue dropped nearly eightfold to just over 5 billion VND this quarter. The main reason was the lack of profit from divesting a subsidiary and a decrease in interest from deposits. The company currently has over 179 billion VND in bank deposits.

In terms of regular expenses, the largest portion was for outsourced services, totaling over 568 billion VND, more than double the amount from the same period last year. The company also spent over 44 billion VND on employee costs, an increase of 7.5%.

In total, YeaH1 reported a profit of nearly 33.3 billion VND in Q2. This figure is 3.5 times higher than the same period last year. Excluding the extraordinary profits from divesting a subsidiary in Q4 2021 and Q4 2024, this is the highest profit level since 2018, before the crisis.

Business Results of YeaH1 (The gray bars represent revenue and the purple bars represent after-tax profit)

YeaH1 is one of the few media companies listed on the HoSE stock exchange. The company went through a period of decline, losing hundreds of billions of VND and unsuccessfully attempting to pivot to e-commerce.

This year, YeaH1 plans to achieve a revenue of approximately 1,300 billion VND and an after-tax profit of 140 billion VND, representing an increase of nearly 27% and over 14%, respectively. If successful, this would be the highest revenue since 2020 and the second-highest profit in the company's history, second only to 2018.

After six months, the company has recorded over 673 billion VND in revenue and 56.5 billion VND in after-tax profit. Both figures have more than doubled compared to the same period last year. They have completed over half of their revenue target and more than 40% of their full-year profit plan.