FPT's technology segment generated nearly $1 billion in revenue thanks to digital transformation.

FPT has also signed an agreement to develop software for various devices from Nippon Seiki, Japan's largest manufacturer of speed measuring equipment.

According to FPT representatives, in the first nine months of 2023, FPT recorded revenue of VND 37,927 billion and pre-tax profit of VND 6,768 billion, representing increases of 22.4% and 19.5% respectively compared to the same period last year, closely following the plan set out at the 2023 Annual General Meeting of Shareholders.

FPT's after-tax profit attributable to parent company shareholders reached VND 4,742 billion, a 20.3% increase, and EPS (Earnings Per Share) reached VND 3,744 per share, a 19.6% increase compared to the previous year.

FPT stated that its technology segment, encompassing both domestic and international IT services, continues to play a key role, contributing 59% of the group's revenue and 46% of its pre-tax profit, equivalent to VND 22,517 billion and VND 3,128 billion respectively, representing growth of 25.7% and 20.8% compared to the same period last year.

Specifically, revenue from IT services abroad reached VND 17,626 billion, an increase of 30.9%, and pre-tax profit reached VND 2,878 billion, an increase of 30.2% compared to the same period last year.

Key markets maintained strong growth momentum, particularly Japan, which, despite the depreciation of the Yen, still achieved high growth of 44.1% year-on-year.

This growth stems from significant spending on information technology, particularly on digital transformation. Most recently, on July 19th, FPT also signed a cooperation agreement to undertake the entire software development for various devices of Nippon Seiki - Japan's largest manufacturer of speed measurement equipment with a 70-year history.

Digital transformation revenue from overseas markets in the first nine months of 2023 reached VND 7,710 billion, a 46% increase compared to the same period last year, focusing on new technologies such as cloud, AI/data analytics, etc.

FPT also recorded many large orders from overseas markets, with newly signed revenue reaching VND 20,700 billion, a 23.2% increase compared to the same period last year. Among these, there are 20 projects with a scale exceeding USD 5 million, demonstrating a clearer shift in focus towards larger orders and confirming the effectiveness of FPT's "whale hunting" strategy.

“Domestic IT services still face many challenges due to declining demand from corporate clients, recording revenue of VND 4,891 billion, a growth of 10.2%, and pre-tax profit of VND 250 billion, a decrease of 34.1%. The company continues to strengthen cooperation with the Government, ministries and agencies, foreign businesses and economic sectors less affected to ensure growth,” an FPT representative said.

To date, FPT has facilitated the signing of digital transformation cooperation agreements with nearly 30 localities and provided digital transformation awareness training to tens of thousands of leaders at all levels in localities nationwide.

The Made-by-FPT technology ecosystem generated VND 993 billion in revenue, a 45% increase compared to the same period last year, continuing to play a key role as one of the group's long-term growth drivers.

FPT announced that its telecommunications services recorded double-digit growth, with revenue reaching VND 11,278 billion, up 10.1%, and pre-tax profit reaching VND 2,217 billion, up 15.0%.

FPT representatives also stated that the strong increase in demand for IT education has contributed to a 43% increase in FPT's education revenue compared to the same period last year, reaching VND 4,435 billion.

Source: https://vietnamnet.vn/doanh-thu-khoi-cong-nghe-cua-fpt-dat-gan-1-ty-usd-nho-chuyen-doi-so-2203161.html