9 months of 2024, FPT reported pre-tax profit of VND 8,111 billion, reflecting YoY increases of 19.8%

9 months of 2024, FPT reported revenue of VND 45,241 billion and pre-tax profit of VND 8,111 billion, reflecting YoY increases of 19.3% and 19.8%, respectively. Net profit attributable to parent company shareholders reached VND 5,762 billion, marking a 21.5% growth, while earnings per share (EPS) stood at VND 3,945, a 21.2% increase year-on-year.

Global IT Services’s signed revenue surpassed $1B mark

The Technology sector (including domestic and global IT services) remained the key driver, contributing 62% of FPT's revenue and 47% of pre-tax profit, equivalent to VND 27,964 billion in revenue and VND 3,812 billion in pre-tax profit, representing growth of 24.2% and 21.9% YoY, respectively.

Building on the momentum from Q2, the Global IT Services segment saw revenue growth of 28.6%, reaching VND 22,668 billion, with pre-tax profit increasing by 25.6% to VND 3,614 billion compared to the same period last year. Major markets continued to sustain high growth, particularly in Japan and the Asia-Pacific region, with year-on-year growth of 30.4% (37.0% in Japanese yen) and 36.6%, respectively. By the end of Q3 2024, signed revenue of the Global IT services segment reached VND 25,121 billion, up 20.1% YoY, crossing the $1 billion milestone. Reinforcing our position as a global billion-dollar tech company, FPT secured 33 large deals (each valued at over $5 million) in the first nine months of 2024, a 65% increase year-on-year, primarily in Japan and the Asia-Pacific region.

FPT Corporation announced partnerships with the ADAPT Research Centre at Dublin City University (ranked among the top 50 young universities globally)

Digital transformation revenue from international markets totaled VND 10,413 billion in 9 months of 2024, a 35% year-on-year growth, focusing on emerging technologies like Cloud, AI, and Data Analytics, ...

On the domestic front, efforts to strengthen collaboration with government bodies and expand cloud computing and AI solutions for local businesses resulted in the domestic IT services segment recording revenue of VND 5,296 billion, up 8.3% year-on-year, pre-tax profit declined by 21.2% to VND 197 billion. FPT's "Made-by-FPT" product ecosystem also maintained strong growth, with revenue reaching VND 1,503 billion, a 47.2% increase, driven by its high applicability for both corporate and government sectors.

Telecommunications and Education sectors continue steady growth trajectory

Telecommunications services reported revenue of VND 12,320 billion, an increase of 9.2%, with pre-tax profit reaching VND 2,547 billion, reflecting growth of 14.9%.

FPT's Education segment, which continues to expand its presence across provinces nationwide, recorded a revenue increase of 16.2% year-on-year, reaching VND 5,155 billion.

Business highlights in Q3/2024

FPT drives AI and Semiconductor development efforts in global markets

As a leading technology enterprise in Vietnam, FPT, in collaboration with the Ministry of Planning and Investment and relevant agencies, co-organized the seminar “Strengthening Vietnam - US Cooperation in Developing the Semiconductor Industry and Artificial Intelligence" held in New York. The event gathered the participation of General Secretary and President To Lam, along with senior leaders from Vietnam and key leaders and experts from global technology giants and top organizations in semiconductors and AI, including the U.S. Semiconductor Industry Association (SIA), AMD, and Google.

During the State visit to Ireland, General Secretary and President To Lam, FPT Corporation announced partnerships with the ADAPT Research Centre at Dublin City University (ranked among the top 50 young universities globally) and Kyndryl, a Fortune 500 company. FPT and ADAPT will collaborate on AI talent development, providing AI education for FPT students and scholarships for young faculty members. Additionally, FPT and Kyndryl will work together on digital transformation and AI applications in sectors such as banking, insurance, and retail.

FPT opens new offices in Japan, Shanghai, Germany, and Sweden

FPT's expansion strategy to response the growing demand for digital transformation solutions and services continues to gain momentum with the opening of several new offices in Japan, Shanghai, Germany, and Sweden. These offices are strategically located in central business areas that host major corporations from various industries. For example, in Japan, FPT inaugurated a new office in Mita, Minato-ku—one of Tokyo's most prestigious areas and home to major corporations like NEC Global and KCCS. This office also serves as FPT’s new headquarters in Japan. The event is part of the company’s strategy to expand its operations in response to growing demand for digital solutions and services. FPT currently has over 3,500 employees working across 17 offices and development centers in Japan, along with nearly 15,000 global experts dedicated to serving the Japanese market. The company aims to grow its workforce in Japan to 5,000 employees by the end of 2025 and achieve its first billion-dollar revenue milestone by 2027.

FPT strengthens partnerships with European firms

FPT’s presence and capabilities in the European market continue to grow, solidified by a series of contracts signed with major partners such as Uniqbit AG, a German IT consultancy specializing in customized digital solutions; Vilja, a leading core banking service provider in the Nordics; and David Lamm Consulting, a German IT consultancy firm. These collaborations have significantly strengthened FPT’s position in Europe. FPT aims to recruit 1,000 employees in Europe by 2030, with 50% being local experts. Recently, at the 19th Francophonie Summit, FPT was awarded by Steve Gentili, Chairman of the Francophone Economic Forum (FFA), for its positive contributions to the Francophone community.

“Silicon Delta - The Story of Vietnam’s Tech Revolution”

On September 16, 2024, Discovery Channel aired the documentary “Silicon Delta – The Story of Vietnam’s Tech Revolution”. The 20-minute film chronicles Vietnam's journey from a lesser-known player in the digital landscape to becoming one of Asia's leading digital economies and a frontrunner in the new technological revolution. FPT, as a pioneering company in Vietnam’s IT sector, was prominently featured as the main focus of the documentary.