FPT Corporation has just announced its preliminary business results for the first 3 months of 2024 with estimated revenue of VND 14,093 billion and profit before tax of VND 2,534 billion, up 20.6% and 19.5% respectively compared to the same period in 2023.
Profit after tax for the first 3 months of the year reached VND 2,160 billion, an increase of 19.4% compared to the same period in 2023. In which, profit after tax belonging to the parent company reached VND 1,798 billion, up 20.4% compared to the same period last year. The corresponding EPS reached VND 1,416 / share.
IT Services Division in Overseas Market continues to achieve high growth, with revenue recorded at VND 6,999 billion, equivalent to an increase of nearly 29% compared to the same period in 2023, thanks to the strong growth from Japan market (+33.5%) and APAC (+32.9%), driven by high demand for information technology spending in these markets, especially spending on digital transformation.Â
Digital transformation revenue in the first quarter of 2024 reached VND 2,956 billion, growing by 36% compared to the same period, focusing on new technologies such as Cloud, AI/Data Analytics, Product Engineering…
New signed revenue reached VND 9,818 billion (down about 3%), mainly due to the fact that FPT had pushed up new signing in late 2023. In the first 3 months of 2024, FPT continued to record many large orders from overseas markets, winning 15 large projects with a scale of over 5 million USD, 2.5 times higher than the same period last year, mainly concentrated in the Japanese and Asia-Pacific markets. The number of customers contributing revenue of over 500 thousand USD is 129 (up 33%), especially the number of customers contributing revenue of over 1 million USD is 60 (up 25%).
Regarding the IT services division in Vietnam, thanks to efforts to strengthen cooperation with the government sector, ministries, and departments, and to promote cloud and artificial intelligence business for domestic enterprises, revenue reached VND 1,472 billion, up 4.6%. The corresponding after-tax profit was VND 41 billion, a sharp increase of 130%. The Made-by-FPT product ecosystem continued to grow strongly, recording revenue of VND 498 billion (up 89.3%) thanks to high applicability for both the business and government sectors.
The Telecommunications Services Division maintained a stable growth with revenue reaching VND 3,885 billion and after-tax profit of VND 805 billion, up 5% and 11.4% respectively compared to the same period last year.
The Education Division also continued its revenue growth of 26% to VND 1,776 billion in the first 3 months of 2024. Recently, FPT topped out the FPT Education Complex project in Thanh Hoa and received the Investment Certificate for the Education Complex in Hue, thereby continuing to expand its presence throughout the country.
In 2024, FPT sets a target of VND 61,850 billion (~2.5 billion USD) in revenue and VND 10,875 billion in profit before tax, both up about 18% compared to the result achieved in 2023. With the results achieved after 3 months of the year, the group has implemented about 23% of the plan set out.
