First 3 months of 2024, FPT's revenue and profit up by 20.6% and 19.5% respectively


First 3 months of 2024, FPT recorded revenue of VND 14,093 billion, profit before tax of VND 2,534 billion, up by 20.6% and 19.5% respectively over the same period last year, following the guidance set out at the beginning of 2024. Profit-after-tax attributable for parent company’s shareholder reached VND 1,798 billion (+20.4% YoY), EPS (Earning Per Share) reached VND 1,416/share, increased by 19.7% compared to the previous year.

Global IT Services segment recorded 15 large deals with scale of $5million

Technology sector (including Domestic IT Services and Global IT Services) continues to play a key role, contributing 60% of revenue and 45% of pre-tax profit of FPT Corporation, equivalent to VND 8,472 billion (+23.8%YoY) and VND 1,155 (+27.5% YoY) billion respectively. 

Continuing the robust growth from 2023, Global IT Services reached VND 6,999 billion, up by 28.8%, profit before tax reached VND 1,115 billion, up by 25.5% over the same period last year. Revenue grew in all markets, especially in Japan (up by 44.2% YoY) despite JPY depreciation, thanks to the rising demand for digital transformation in this market. Notably, leveraging on new position as a billion-dollar global IT services provider, FPT continue to secure a multitude of large contracts from overseas market, clinching 15 large deals with scale of $5mn+ each in just 3 months of 2024, mainly in Japan and APAC countries.

Digital transformation revenue reached VND 2.956 billion, an increase of 36% over the same period, affirming the ability to provide effective and comprehensive digital transformation services of the company.

Thanks to endeavors to enhance collaboration with governmental entities and advance Cloud Computing and AI for local enterprise, Domestic IT Services segment maintained revenue growth of 4.6% YoY, reaching VND 1,472 billion and PBT of VND 41 billion (+130.1% YoY). With high applicability, Made-by-FPT ecosystem brought in VND 498 billion in revenue, growing 89.3% 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 5.1% over the same period last year, reaching VND 3,885 billion; PBT increased by 11.4%, reaching VND 805 billion. 

Solidifying nationwide presence, FPT's Education maintained steady revenue growth of 31% compared to the same period last year, reaching VND 1,776 billion.

Business highlights in Q1/2024

FPT’s first M&A deal in Japan

On March 1, 2024, FPT Group announced the purchase of 100% capital of Next Advanced Communications NAC Co., Ltd. (NAC) - Japanese IT services company, doubling FPT’s customer base and service portfolio and strengthening our position in this market. With a team of nearly 300 high-quality engineers, many of whom are in the Top 40 in the world in Salesforce and CRM, this deal is a step in line with FPT’s global expansion strategy and allows FPT to take advantage of NAC’s experienced human resources and strong expertise in strategic consulting, structural design, technology system planning, design, development and operations. This acquisition thereby ensures rapid and sustainable growth for FPT, enabling FT to approach the revenue target of 1 billion USD from the Japanese market by 2027.

FPT established a software joint venture with Konica Minolta

The joint venture is headquartered in Tokyo, Japan and will operate under the name KONICA MINOLTA FPT Solution Labs, Inc. Leveraging on Konica Minolta's existing capabilities in the field of imaging, data processing and FPT’s solutions that are based on new technology like AI, Big Data, IoT... of FPT, the JV will expand its business scope by providing software solutions for multi-function printers as well as comprehensive and diverse digital transformation solutions for office working environments on a global scale.

Expanding presence with new office in Dalian, China

FPT unveiled the inauguration of its FPT Dalian branch in Liaoning province, China, aimed at delivering top-notch information technology services to clients in Japan and China. This expansion to Dalian also serves as a strategic move to tap into a vast pool of skilled tech professionals proficient in English and Japanese, further enriching the company's talent base. It's estimated that Dalian boasts around 200,000 IT personnel proficient in Japanese.

Prominent Technology Group Leader Appointed as CEO of FPT France

With almost two decades of experience at tech giants like Unisys Europe, CSC Paris, and HCL Technologies, Mr. Christophe Schwanengel has showcased exceptional leadership and sales acumen, securing numerous multimillion-dollar contracts. His appointment as CEO of FPT France signals FPT Software's ambition to emerge as a key player in digital transformation within France, bolstering its presence in French-speaking regions, heading towards the $100 million milestone for FPT France within the next three years.

FPT transforms Core Leasing system for Vietnam's first financial leasing company

FPT IS and Saigon Thuong Tin Bank Financial Leasing Company Limited (Sacombank-SBL) recently inked a deal to implement the Core Leasing project - FPT.FINEX. This project involves migrating from the SmartBank system to the new FPT.FINEX system across 19 modules, with a deployment timeline of 12 months company-wide. Besides software solutions, FPT IS is also providing comprehensive hardware infrastructure for Sacombank-SBL to ensure seamless and effective system operation. This upgrade of the Core system is poised to enhance performance, safety, and security across the organization.

Topping out FPT Education Complex Thanh Hoa after only 3 months of construction

After a mere 3 months of construction, the FPT Education Complex Thanh Hoa, comprising FPT Thanh Hoa Primary, Secondary, and High Schools (or FPT School Thanh Hoa), has officially reached its topping-out stage and is set to commence operations this year. Simultaneously, alongside construction progress, FPT School Thanh Hoa is undertaking operational preparations to welcome its inaugural student cohort. In the upcoming 2024-2025 academic year, FPT Thanh Hoa Primary, Middle, and High School will admit students in grades 1, 2, 6, 7, and 10, with an anticipated enrollment target of 500 students.