FPT Recorded Revenue And Profit Before Tax Up 22.2% And 23.9% Respectively
In the first 6 months of 2022, FPT recorded revenue of VND 19,826 billion, profit before tax of VND 3,637 billion, up 22.2% and 23.9% respectively over the same period last year. Business results maintained double-digit growth with the main driving force coming from increased demand in the technology segment, especially digital transformation services and growth in profit margin of the telecommunications segment.
13 large deals with the scale of $5+ million/deal
Technology sector (including Domestic IT Services and Global IT Services) continues to play a key role, contributing 57% of revenue and 45% of pre-tax profit of FPT Corporation, equivalent to VND 11,252 billion and 1,625 billion VND respectively.
Global IT Service revenue reached VND 8,622 billion, up 29%, profit before tax reached VND 1,362 billion, up 28.4% over the same period in 2021. Notably, revenue grew in all markets, especially in the US (up 48.4%) and Asia - Pacific (up 55.5%). The Japanese market also witnessed rapid recovery with the JPY-based revenue growth reaching 18%. Digital transformation revenue reached VND 3,484 billion, an increase of 64.6% over the same period, reflecting the constantly increasing demand in the market, affirming the ability to provide effective and comprehensive digital transformation services of the company.
Global IT Services recorded newly signed revenue of VND 11,681 billion, up 40% over the same period, creating a solid growth momentum for the second half of 2022. FPT also recorded 13 projects with a scale of over 5 million USD.
Domestic IT services segment achieved revenue and pre-tax profit of VND 2,630 billion and VND 263 billion, respectively. In which, products of the Made-by-FPT ecosystem brought in VND 406 billion in revenue, up 51.6% over the same period.
Made by FPT technology ecosystem is developed based on core technology platforms including AI, Blockchain, Cloud, IoT and Lowcode; has wide applicability in many key fields such as e-government, transportation, healthcare, finance and banking, telecommunications, education, manufacturing, etc. This is one of the important growth drivers for FPT in the long term.
Telecommunication services: Profit margin expansion from PayTV
Telecommunications sector revenue grew by 15.5% over the same period last year, reaching VND 7,077 billion; PBT increased by 40%, reaching VND 1,445 billion. In which, telecommunications services revenue increased by 15%, reaching VND 6,727 billion. Telecommunication services’ profit margin expanded from 18.3% to 19.2% thanks to profit growth from PayTV segment.
The strong demand for education in the IT industry has contributed to boosting FPT's Education revenue by 42% in the first half of 2022 compared to the same period last year, reaching VND1,935 billion.
Business highlights in the first 6 months of 2022
New office opening in New York
On May 15, 2022, FPT opened a new office in New York City - one of the economic capitals of the world, in order to expand business opportunities, enhance technology service capabilities, and deploy digital transformation for a group of large enterprises in the Northeast region of America. It is expected that in the next 2 years, the US will become FPT's largest overseas market, contributing to FPT Software's revenue reaching billions of USD by 2023.
Commencement of construction of FPT UniSchool Ha Nam Education Complex
On May 31, 2022, in Ha Nam, FPT held the Groundbreaking Ceremony to build FPT UniSchool Ha Nam Education Complex with a training scale of 10,000 learners. The presence of FPT UniSchool in Ha Nam is expected to promote education, provide high-quality human resources and create breakthroughs in the province's socio-economic development in a sustainable way.
Continue to promote comprehensive digital transformation cooperation with provinces and cities
Since the beginning of the year until now, FPT Corporation signed multiple digital transformation cooperation agreements with 9 provinces: Ben Tre, Dak Lak, Ha Nam, Hung Yen, Khanh Hoa, Quang Ninh, Quang Tri, Soc Trang and Hau Giang; The agreement aims at a number of key goals such as: renewing the growth model and economic structure in association with the implementation of strategic breakthroughs in the province and contributing to the province becoming one of the leading localities in terms of digital transformation in all three areas: digital government, digital economy, and digital society.