Profit before tax increased by 34% in 1Q2018

Ending the first quarter of 2018, FPT recorded revenue of VND 4,751 billion, equal to 104% of the YTD target, profit before tax (PBT) was VND 781 billion, equal to 118% of the YTD target. In like for like comparison (FPT Retail and Synnex FPT were regarded as associates for 1Q2017), revenue and PBT increased by 22% and 34% year on year (YoY), respectively. Compared to the actual number (no adjustment) of 1Q2107, revenue down 51% and PBT up 21% YoY.

Profit after tax (PAT) was VND 653 billion, up 21% YoY. PAT attributable to parent company’s shareholders was up 23% to VND 509 billion and EPS was VND 959 up 23% YoY. In addition, PBT margin achieved 16.4%, up 2.5 times YoY.

Main business sectors performance

Technology sector recorded revenue and PBT of VND 2,453 billion and VND 250 billion, up 27% and 37% YoY, respectively. In which, the software outsourcing segment recorded revenue of VND 1,675 billion, up 28% YoY. PBT for the reported period was VND 235 billion, up 24% YoY.

In 1Q2018, FPT continued to sign a software contract worth USD 100 million with innogy SE (owned by RWE Group) for the forthcoming period (2018-2024) - the largest contract in FPT’s history of 30 years. According to the contract, FPT will provide technological solutions based on SAP, IoT and digital transformation platforms for innogy SE.

Telecom sector had its revenue up 15%, to VND 2,009 billion, PBT was VND 339 billion, up 15% YoY.

Overseas markets had profit up 36% YoY

The overseas markets continued to be a key growth driver for FPT. Ending the first quarter of 2018, FPT’s overseas markets recorded a healthy growth with revenue increased by 29% to VND 1,827 billion, and PBT up 36% YoY to VND 272 billion.

With a strategic focus on digital transformation, this service’s revenue from overseas markets was VND 367 billion, up 40% YoY, contributing 22% in the software outsourcing’s revenue.