FPT achieves 20%+ profit growth after announcement of the AI - Semiconductor - Automotive - Digital - Green strategy in 2024

In 2024, FPT recorded revenue of 62,849 billion VND and a pre-tax profit of 11,071 billion VND, reflecting year-on-year growth of 19.4% and 20.3%, respectively. These results exceeded 102% of the Corporation's targets. Profit after tax attributable to parent company shareholders reached 7,849 billion VND, an increase of 21.4%. EPS (Earnings Per Share) climbed to 4,940 VND per share, marking a 21.9% rise compared to the previous year.

In 2024, FPT remained on track for sustained expansion, with both revenue and pre-tax profit increasing by over 19%, exceeding 102% of the Corporation's targets.

FPT’s revenue in IT services for foreign markets surpasses 1.3 USD billion

The Technology Sector, comprising both Domestic and Foreign IT Services, remained the core driver of FPT's business, contributing 62% of total revenue and 47% of pre-tax profit. This equated to 39,110 billion VND in revenue and 5,229 billion VND in pre-tax profit, respectively, with 24.4% and 25.7% growth.

Reaffirming the Corporation's strong international presence, Foreign IT Services revenue grew by 27.4%, reaching 30,953 billion VND, while pre-tax profit rose 26.1% to 4,770 billion VND. Key markets continued to show robust expansion, notably Japan (32.2% growth, 36.3% in JPY) and Asia-Pacific (APAC) (34.8% growth). FPT's newly signed revenue from Foreign IT Services exceeded 1.3 billion USD (33,590 billion VND), reflecting a 13% year-on-year increase. FPT also secured 48 large-scale contracts (each exceeding 5 million USD) in 2024, marking a 31% increase in significant deals won. This achievement reinforces FPT's position as a billion-dollar global technology company.

Digital transformation revenue from foreign markets surged 37% to 14,263 billion VND, driven by demand for Cloud Computing, AI, and Data Analytics.

Strengthening partnerships with government agencies and enterprises, FPT expanded its Cloud Computing and AI business in Vietnam. As a result, Domestic IT Services revenue grew 13.9% to 8,157 billion VND, with profit after tax increasing 21.1% to 460 billion VND. The Made-by-FPT product ecosystem continued its strong momentum, generating 2,267 billion VND in revenue, a 31% year-on-year increase driven by high applicability across industries.

Sustainable growth in Telecommunications and Education sectors

FPT’s Telecommunications services continued its steady expansion, with revenue reaching 16,906 billion VND, reflecting an 11.3% year-on-year increase. Meanwhile, profit after tax surged 18.1% to 3,420 billion VND.

Simultaneously, FPT’s Education sector maintained its growth trajectory, achieving 7,088 billion VND in revenue, a 15.1% increase compared to the previous year. This growth was driven by ongoing expansion into provinces and cities across Vietnam.

Highlights in 2024

FPT expands global footprint, strengthening presence in key markets

FPT continues to solidify its global position with major international expansion milestones in 2024: Opening an office in Dalian, China, in March; Expanding into Northern Europe with a new office in Gothenburg, Sweden, in September; Launching its Middle East headquarters in Riyadh, marking FPT as the first Vietnamese enterprise to operate in Saudi Arabia in October. Further expansion in Malaysia and Germany reinforced FPT's role in shaping Vietnam's presence on the global technology map.

FPT inaugurated its Middle East regional headquarters in Riyadh, Saudi Arabia, in October 2024 with the presence of Prime Minister Pham Minh Chinh.

Strengthening capabilities with first M&A deal in Japan

On March 1st, FPT achieved a historic milestone by completing its first-ever M&A deal in Japan, acquiring 100% ownership of Next Advanced Communications (NAC). With 15 years of expertise and a team of nearly 200 top-tier engineers, including members ranked among the world's Top 40 in Salesforce and CRM, NAC enhances FPT's marketing, consulting, and system development capabilities. This acquisition opens new opportunities for technological innovation.

FPT has also demonstrated its strategic vision through key partnerships, such as with Konica Minolta to establish a joint venture in Japan (April) and Vietnam (September). In March, it teamed up with SCSK to launch the ambitious COBOL PARK project, driving a strong wave of digital transformation across Japan.

Comprehensive partnership between FPT and NVIDIA

FPT and NVIDIA have signed a strategic cooperation agreement to accelerate AI research and development, train high-quality AI talent, and position FPT as a Service Delivery Partner within NVIDIA's global partner network. This collaboration will enable businesses across industries to adapt to the AI-driven era seamlessly.

FPT recently launched two AI Factories in Vietnam and Japan as part of this partnership, offering world-class AI and Cloud Computing services powered by cutting-edge computing infrastructure. These AI Factories focus on three core product groups: FPT AI Infrastructure – Providing GPU cloud services to accelerate AI model training and development; FPT AI Studio – Enabling businesses to build, fine-tune, and optimize AI models using NVIDIA NeMo applications; FPT AI Inference – Supporting efficient AI model deployment with NVIDIA NIM and AI Blueprints.

FPT signed a cooperation agreement with NVIDIA in April 2024 with an expected investment of up to 200 million USD

Improving emerging technologies, enhancing Vietnam’s role in the global technology supply chain

In 2024, FPT has achieved significant milestones in emerging technologies, reinforcing Vietnam's position as a key player in the global technology supply chain. The Corporation has driven advancements in AI integration across industries, boosting labor productivity through the xVista solution suite; Expanding chip design capabilities through a joint venture with Taiwan and investing in training semiconductor engineers; Refining technologies such as AI First SDV, AUTOSAR, and CDC, and developing new products to meet industry demands. Additionally, FPT launched FPT AI Agents, a cutting-edge AI platform, and The Next for Enterprise, a comprehensive digital transformation solution that integrates Made-by-FPT innovations to support businesses in accelerating their digital transformation journeys.

Breaking records with multi-hundred-million-dollar contracts

Building on its 1 billion revenue USD milestone in late 2023, FPT secured a record-breaking 225 million USD contract from a US client, marking the largest contract in the company’s history.
FPT further strengthened its global footprint with multiple 100+ million USD contracts across key strategic markets. In June 2024, FPT signed its largest-ever contract in Singapore. In November 2024, it secured a 100+ million USD deal in the European market, marking a major leap in its international expansion strategy.

Strengthening leadership with prestigious domestic and international awards

• FPT's brand value nears 1 billion USD, ranking among the Top 5 Strongest Brands in Vietnam | Brand Finance 2024
• Largest IT Services Company in Southeast Asia in Fortune 500
• Top 3 Large-Cap Enterprises with the Best Investor Relations (IR) Activities | IR Awards 2024
• Top 10 Best Corporate Governance Companies in the Large-Cap Group | VCLA 2024
• Top 10 Best Places to Work in Vietnam in 2024
• Top 10 Golden Star Brands of Vietnam