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FPT reached VND3,000 billion profit after tax in the first 4 months of 2024 

 Wednesday, May 29,2024

AsemconnectVietnam - FPT Joint Stock Company (FPT code, HOSE) has just announced business results for the first 4 months of 2024 with estimated revenue of VND18,989 billion; increased 20.6% over the same period last year.

Pre-tax profit is estimated at VND4,447 billion, after-tax profit is VND2,932 billion, both up 19.7% compared to the first 4 months of 2023.
Of which, profit after tax belonging to parent company shareholders reached VND2,455 billion, an increase of 21.6% over the same period last year. The corresponding EPS reached 1,933 VND/share, an increase of 20.9%.
In terms of the contribution of each segment, technology is still the key segment, contributing 60% of the revenue structure and 45% of the profit structure. Next is telecommunications, contributing 28% of revenue and 32% of profits; Education and other investment segments account for 12% of revenue and 23% of profits.
Notably, all segments have grown over the same period. Most prominent is the technology segment, which increased steadily by 25-26%; while telecommunications grew 6% in revenue but increased 13.2% in profit; Education and other investments have a faster growth rate of more than 41% but a slower profit growth rate, at 16.8%.
The IT services segment in foreign markets continues to grow impressively, reaching revenue of VND9,450 billion, equivalent to an increase of 29.2%, led by increases from all 4 markets.
In particular, the Japanese and APAC markets continued to maintain high growth rates, increasing by 34.3% (equivalent to 44.6% growth in Japanese Yen) and 31.6%, respectively.
The volume of newly signed orders in foreign markets reached VND13,940 billion, an increase of 12.8%, mainly because the Group accelerated new signings in December 2023.
Accumulated in the first 4 months of 2024, FPT won 20 large projects with a scale of over 5 million USD/project. The total value of orders won and in the promotion and signing phase increased by over 30% over the same period, showing that the demand for IT Services is increasing globally.
The domestic IT Services segment recorded revenue of VND2,005 billion, equivalent to a growth of 8.6%.
The Telecommunications Services sector maintained sustainable growth with revenue reaching VND5,365 billion and profit before tax reaching VND1,116 billion, up 6.1% and 13.2% respectively over the same period last year.
The Education, Investment and Other segment also continued to grow in revenue by 41.7% to VND2,169 billion in the first 4 months of the year. Pre-tax profit also increased by 16.8% to VND784 billion.
In 2024, FPT sets a revenue target of VND61,850 billion (about USD2.5 billion) and pre-tax profit of VND10,875 billion, both an increase of about 18% compared to 2023 results.
With the results achieved after the first 4 months of the year, the group has implemented about 31% of the proposed revenue and profit plan.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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