Q1 results exceed targets, FPT’s revenue and PBT increased 14.4% and 22.3%
For Q1/2021, FPT’s profit before tax recorded high growth rates, especially for two major sectors of Technology and Telecom, whose PBT increased by 29% YoY. Education segment is also a highlight with 57% increase in revenue.
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23/04/2021
For the first quarter of the year, revenue and PBT of FPT reached respectively VND 7,586 billion and VND 1,397 billion, up 14.4% and 22.3% YoY, equivalent to 102% and 105% target. Profit after tax increased 22.8% YoY, equivalent to 103% target and EPS up 20.8% reaching 104% target. The operating performance continues to grow at double digit rate thanks to FPT’s increased sales efforts and more focus on high margin services.
FPT's new headquarters with a size of 16,000 m2 provides workplaces for about 9,000 people in the IT industry
Technology leading growth with ample opportunity in 2021
With highest growth in terms of PBT, Technology sector contributed 40% in PBT and 55% in revenue of FPT. Technology’s signed revenue recorded VND 5,834 billion, highest among the last 04 quarters, up 46.3% YoY. The growth reflects strong demand in technology investment in both domestic and global market, setting solid foundation for growth in the upcoming quarterly revenue.
Focusing on digital transformation for government clients and major enterprises as well as developing new Made-by-FPT software solutions, Domestic IT Services recorded VND 986 billion in revenue, up 40.1% YoY, and VND 59 billion, up 1,828.7% YoY.
Global IT Services’ revenue reached VND 3,169 billion, up 9.6% YoY. PBT recorded VND 495 billion, up 16.4% compared to Q1/2020 when there was little impact by COVID-19. Targeting “whale clients” (major enterprises with high-value projects), FPT signed 04 new projects with the potential revenue of more than $5 million each in Q1/2021. Therefore, signed revenue for global market recorded VND 4.489 billion, up 43%, setting a solid foundation for accelerated revenue growth in the upcoming quarters.
Robust performance from Telecom and Education
Telecom sector recorded VND 2,925 billion in revenue, up 9.6% YoY and VND 576 billion in PBT, up 29% YoY. In which, Telecom services’ PBT was VND 524 billion, up 30.7% thanks to Broadband services’ improved PBT margin and new profit stream from PayTV services. Additionally, Education segment’s revenue reached VND 698 billion, up 57% YoY.
