Dear valued Shareholders, Customers, Partners and all FPT employees,
The year 2020 undoubtedly went down in history as the worst year ever. Unprecedentedly, the rampaging Covid-19 pandemic has precipitated a substantial global socio-economic crisis whilst tragically claiming millions of lives, adversely affecting business and taking away millions of jobs. In response to this crisis, FPT nevertheless took the initiatives to turn THREATS into OPPORTUNITIES, in which the Corporation rapidly reacted to each and every upheaval that came along the way, worked as twice as hard and determined that NO one would lose their jobs during this difficult period of time.
Overall, FPT maintained its position as the most valuable technology brand (estimated at nearly USD218 million) in Vietnam in 2020. Our total consolidated revenue and profit after tax added up to VND29,830 billion and VND4,424 billion, respectively. The profit growth practically doubling the revenue increase was the result of our continuous innovation and application of DX technology, in a bid to enhance productivity and profit margins. Although the business performance indicators experienced fluctuations in the first half of the year, our three core sectors of Technology, Telecommunications, and Education/Investment eventually improved rather remarkably, in both revenue and profit on a y-o-y basis, from the third quarter onward.
With regard to the overseas IT arm, FPT outstandingly beat its previous record-high revenue of USD500 million, with a steady expansion of 8-9% in two key markets of Japan and the US, as well as an impressive growth rate of 28% in the Asia-Pacific region. The Corporation was able to promote its foothold and contribution toward the global value chain, when successfully outperforming other renowned competitors in international biddings. Just last year, FPT secured hundreds of large-scale contracts, including 118 “mega-deals” worth over USD1 million, representing an increase of nearly 23% y-o-y. In addition, a global delivery center in India (with a scale of 1,000 employees), and an R&D hub in Costa Rica were opened in 2020, as part of an attempt to meet the urgent needs of customers in the US and around the world.
FPT’s local IT arm, meanwhile, managed to turn the tide at the year-end. As a DX consultancy and implementation partner, FPT has significantly accompanied numerous domestic organizations and enterprises to endure the challenging times and thrive in the new normal.
Earnings from the DX service in 2020 alone soared by 31% y-o-y, reaching VND3,219 billion, and such growth in the DX service is said to demonstrate the prominent trends of advanced technologies like Cloud, IoT and Lowcode.
In 2021, FPT will keep up its pioneering position in accelerating the nation's DX activities, on the back of a focused “Data-driven and Customer-centric” strategy. The Corporation is determined to enhance the digital experiences of domestic and international customers, on the basis of utilizing the inseparable combination of the three DX aspects consisting and particularly, people transformation.
This year will definitely be another challenging one for the local business community, given the unforeseen impacts of the Covid-19 crisis and the subsequent development of the so-called “new world order”. On the other hand, the pandemic prompts everyone and every single organization to move online with no other option. On the other, it offers unprecedentedly invaluable opportunities for valiant warriors, who dare to overcome limits and norms, in order to conquer new heights.
Given the “think different - do different” trait belongs uniquely to each and every FPTer, the corporate DNA of creative and adaptive leaders and experts, I believe that FPT has what it takes to fulfill the goals set for the year 2021, thereafter helping strengthen Vietnam’s position on the world digital map.