9 months of 2023, FPT's revenue and profit up by 22.4 % and 19.5% respectively
9 months of 2023, FPT recorded revenue of VND 37,927 billion, profit before tax of VND 6,768 billion, up by 22.4% and 19.5% respectively over the same period last year, following the guidance set out at the 2023 Annual General Meeting of Shareholders. Profit-after-tax attributable for parent company’s shareholder reached VND 4,742 billion (+20.3% YoY), EPS (Earning Per Share) reached VND 3,744/share, increased by 19.6% compared to the previous year.
Japan market posted robust growth of 44.1% despite JPY depreciation
Technology sector (including Domestic IT Services and Global IT Services) continues to play a key role, contributing 59% of revenue and 46% of pre-tax profit of FPT Corporation, equivalent to VND 22,517 billion (+25.7%YoY) and 3,128 (+20.8% YoY) billion VND respectively.
Global IT Service revenue reached VND 17,626 billion, up by 30.9%, profit before tax reached VND 2,878 billion, up by 30.2% over the same period last year. Notably, revenue grew in all markets, especially in Japan (up by 44.1% YoY) despite JPY depreciation, thanks to the rising demand for digital transformation in this market. Most recently, on July 19th, the Company also signed a partnership agreement, according to which FPT will be in charge of all software development for various equipment from Nippon Seiki – a global tier-1 supplier of meters and head-up displays (HUD) with a 70-year history of operation.
Digital transformation revenue reached VND 7,710 billion, an increase of 46% over the same period, affirming the ability to provide effective and comprehensive digital transformation services of the company.
Global IT Services recorded newly signed revenue of VND 20,700 billion, up by 23.2% over the same period, including 20 projects with a scale of $5mn+, showing the shift towards large deals and the effectiveness of the “whale-hunting” strategy.
Domestic IT services still encountered difficulties as demand from enterprises has not resumed, reaching revenue and pre-tax profit of VND 4,891 billion (+10.2% YoY) and VND 250 billion (-34.1% YoY). The company continues to promote cooperation with the government sectors, foreign businesses and other resilient economic sectors to ensure growth. With the support from the government and local authorities, FPT has promoted the signing of digital transformation cooperation agreements with nearly 30 localities and trained digital transformation awareness for nearly thousands of local leaders across the country.
The Made-by-FPT technology ecosystem brought in 993 billion VND in revenue, growing 45% over the same period last year, continuing to be one of the Group's key growth drivers in the long term.
Telecommunication and Education sector continue to achieve sustainable growth
Telecommunications services segment grew by 10.1% over the same period last year, reaching VND 11,278 billion; PBT increased by 15%, reaching VND 2,217 billion.
The strong demand for education in the IT industry has contributed to boosting FPT's Education revenue by 43% compared to the same period last year, reaching VND 4,435 billion.