FPT's technology sector revenue reaches nearly 1 billion USD thanks to digital transformation

FPT has also signed an agreement to develop software for many types of equipment of Nippon Seiki - Japan's largest speed measuring equipment manufacturing corporation.

FPT representative said that in the first 9 months of 2023, FPT recorded revenue of VND 37,927 billion and pre-tax profit of VND 6,768 billion, up 22.4% and 19.5% respectively over the same period last year, closely following the plan set out at the 2023 Annual General Meeting of Shareholders.

Profit after tax for shareholders of FPT's parent company reached VND 4,742 billion, up 20.3%, EPS (Earning Per Share) reached VND 3,744/share, up 19.6% over the previous year.

FPT said that the technology sector, including domestic IT services and foreign IT services, continued to play a key role, contributing 59% of the group's revenue and 46% of pre-tax profit, equivalent to VND22,517 billion and VND3,128 billion, up 25.7% and 20.8% respectively over the same period last year.

Of which, revenue from IT services abroad reached VND 17,626 billion, up 30.9%, pre-tax profit reached VND 2,878 billion, up 30.2% over the same period last year.

Key markets maintained high growth momentum, especially in the Japanese market, despite the devaluation of the Yen, still maintained high growth momentum, 44.1% over the same period.

This growth comes from the need for large spending on information technology, especially spending on digital transformation. Most recently, on July 19, FPT also signed a cooperation agreement, taking charge of all software development for many types of equipment of Nippon Seiki - Japan's largest speed measuring equipment manufacturing group with a history of 70 years of operation.

Digital transformation revenue from foreign markets in the first 9 months of 2023 reached VND 7,710 billion, up 46% over the same period, focusing on new technologies such as cloud, AI/data Analytics, ...

FPT also recorded many large orders from foreign markets, with newly signed revenue reaching VND20,700 billion, up 23.2% compared to the same period. Of these, there were 20 projects with a scale of over 5 million USD, showing a clearer shift in focus to large orders, affirming the effectiveness of FPT's "whale hunting" strategy.

“Domestic IT services still face many challenges due to the decline in demand from corporate customers, recording revenue of VND4,891 billion, up 10.2% and pre-tax profit of VND250 billion, down 34.1%. The company continues to promote cooperation with the Government, ministries, foreign enterprises and less affected economic sectors to ensure growth,” said an FPT representative.

Up to now, FPT has promoted the signing of digital transformation cooperation agreements with nearly 30 localities and trained digital transformation awareness for nearly tens of thousands of leaders at all levels of localities nationwide.

The Made-by-FPT technology ecosystem brought in VND993 billion in revenue, up 45% year-on-year, continuing to act as one of the group's key growth drivers in the long term.

FPT said that telecommunications services recorded double-digit growth, with revenue reaching VND11,278 billion, up 10.1%, and pre-tax profit reaching VND2,217 billion, up 15.0%.

FPT representative also said that the strong increase in demand for information technology education has contributed to boosting FPT's education revenue by 43% compared to the same period last year, reaching 4,435 billion VND.

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