In 2023, FPT's revenue and profit up by 19.6% and 20.1% respectively

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19/01/2024

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By the end of 2023, FPT recorded revenue of VND 52,618 billion, profit before tax of VND 9,203 billion, up by 19.6% and 20.1% respectively over the same period last year, following the guidance set out at the 2023 Annual General Meeting of Shareholders. Profit-after-tax attributable for parent company’s shareholder reached VND 6,470 billion (+21.8% YoY), EPS (Earning Per Share) reached VND 4,666/share, increased by 21.3% compared to the previous year.

Press Release In 2023, FPT's revenue and profit up by 19.6% and 20.1% respectively FPT's digital transformation revenue in 2023 up by 42% By the end of 2023, FPT recorded revenue of VND 52,618 billion, profit before tax of VND 9,203 billion, up by 19.6% and 20.1% respectively over the same period last year, following the guidance set out at the 2023 Annual General Meeting of Shareholders. Profit-after-tax attributable for parent company’s shareholder reached VND 6,470 billion (+21.8% YoY), EPS (Earning Per Share) reached VND 4,666/share, increased by 21.3% compared to the previous year. Revenue from Global IT Services segment officially surpassed the $1 billion milestone. Technology sector (including Domestic IT Services and Global IT Services) continues to play a key role, contributing 60% of revenue and 45% of pre-tax profit of FPT Corporation, equivalent to VND 31,449 billion (+22.1%YoY) and 4,161 (+23.6% YoY) billion VND respectively. The year 2023 witnessed revenue from the Global IT Service segment surpassing $1B in revenue, reached VND 24,288 billion, up by 28.4%, profit before tax reached VND 3,782 billion, up by 27.1% over the same period last year. Notably, revenue grew in all markets, especially in Japan (up by 43.4% YoY) despite JPY depreciation, thanks to the rising demand for digital transformation in this market. In a recent development on December 16th, the company inked two collaboration agreements with prominent Japanese entities: Yamato Holdings, a major Japanese goods circulation enterprise, and TradeWaltz, a company that possesses Japan's foremost commercial information interactive platform. Digital transformation revenue reached VND 10,425 billion, an increase of 42% over the same period, affirming the ability to provide effective and comprehensive digital transformation services of the company. Global IT Services recorded newly signed revenue of VND 29,717 billion, up by 37.6% over the same period, including 37 projects with a scale of $5mn+, showing the shift towards large deals and the effectiveness of the “whale-hunting” strategy. Thanks to endeavors to enhance collaboration with government entities, ministries, international corporations, and sectors less impacted by economic challenges, Domestic IT Services segment maintained revenue growth of 4.6% YoY, reaching VND 7,161 billion and PBT of VND 379 billion (-2.6% YoY). With high applicability, Made-by-FPT ecosystem brought in 1,620 billion VND in revenue, growing 40.8% over the same period last year, continuing to be one of the Group's key growth drivers in the long term. Telecommunication and Education sector continue to achieve sustainable growth Telecommunications services segment grew by 8.8% over the same period last year, reaching VND 15,186 billion; PBT increased by 15.4%, reaching VND 2,895 billion. The strong demand for education in the IT industry has contributed to boosting FPT's Education revenue by 31% compared to the same period last year, reaching VND 6,159 billion. FPT 2023 RECAP: MARKET EXPANSION In 2023, FPT expanded its operations in foreign markets by inaugurating 5 new offices in Japan, Korea, China, Indonesia, and Mexico. By the end of the year, FPT has executed 4 strategic investments in the US, Japan, and France. 28/02: Acquisition of Intertec International. This deal is part of FPT's strategy to broaden its global delivery capability, ensuring prompt support for customers across all time zones and geographical locations worldwide. 24/10: FPT secured a strategic stake in one of the world's Top 10 AI companies. FPT and Landing AI, a leading US computer vision and artificial intelligence (AI) software company, signed a strategic cooperation to develop business opportunities and human resources. 06/11: Acquisition of Cardinal Peak. FPT announced the acquisition of Cardinal Peak - a product engineering services company to improve competitiveness and service quality in the Americas, especially in new technology fields. 06/12: Acquisition of French IT consulting firm - AOSIS. With the participation of AOSIS, FPT will expand its customer base and business opportunities, improve capacity in the fields of SAP, Data, Cloud and smart solutions for businesses focusing on industries like aerospace, aviation and transportation. FPT 2023 RECAP: TECH ADVANCEMENTS Enhance technological capacity through investment in new technologies and specific industries with high growth potential. 28/02: FPT establishes automotive software company in US. Capitalizing on over a decade of expertise in the software technology sector, a workforce comprising over 5,500 skilled engineers and experts specializing in automotive software, and a clientele that extends to more than 150 globally renowned companies such as Honda, Hyundai, Volvo, VinFast, Ford, Yazaki, NXP, among others, FPT Automotive stands committed to meeting industry standards. With a focus on comprehensive services, including in-vehicle entertainment, ECU, safety functions, as well as wireless and digital connectivity, FPT Automotive is well-positioned to cater to diverse customer needs. Patents in leading nations for core AI technologies, including machine learning, image recognition and processing. In November 2023, the US Patent and Trademark Office (USPTO) formally issued a patent for a machine learning system designed to autonomously categorize and classify documents. This technology is currently implemented in two automated products, namely FPT's akaBot Vision and UBot Invoice. Additionally, FPT had previously received a patent from the USPTO for 3D point cloud processing technology, specifically tailored for tasks within the realm of 3D computer vision. Furthermore, the Japan Patent Office has granted a patent in the field of AI for FPT's image data recognition and processing technology. FPT 2023 RECAP: HUMAN RESOURCE DEVELOPMENT By the end of 2023, FPT Education Organization has achieved the milestone of 145,000 full-time equivalent students across the system. Simultaneously, it has expanded its operations to 10 provinces and cities nationwide and established the Department of Semiconductor Circuits , which will welcome the first batch of trainees and students in 2024, with a focus on providing in-depth training in IC design and conducting research for Vietnam's semiconductor IC industry. FPT 2023 RECAP: REAFFIRMING OUR POSITION In 2023, FPT continues to affirm its leading position with domestic and international awards. Top 8 IoT service providers in Asia Pacific region. Top 40 major technology service companies in Singapore. Top 70 Best Large Workplaces in Asia, alongside world giants such as Accenture, HP, Cisco... evaluated by Great Place to Work. Top 100 best places to work in Japan, Singapore, America. Typical CSR enterprises of Vietnam and The most impressive community activities globally. OUR BILLION DOLLAR JOURNEY FROM OVERSEA With over two decades of global market experience, FPT has cultivated profound expertise in specialized fields poised for substantial future growth. This transformation, from "developing small applications" to "implementing core services" within customers' IT systems, has been instrumental in shaping FPT's billion-dollar overseas journey, marked by remarkable milestones. Scale: 1998: Started globalization strategy with 17 employees. 12/2016: Reached 10,000 employees. 9/2021: Reached 20,000 employees. 1/2024: reaching 30,000 employees of more than 70 nationalities working in 30 countries globally. Revenue from oversea milestones: 2002: First 1 million USD in revenue. 2006: First 10 million USD in revenue. 2013: First 100 million USD in revenue. 2021: First 500 million USD in revenue. 2023: First 1 billion USD, entering the world-class playground - the playground of global billion-dollar IT service firms. 2030: 5 billion USD target - Leverage position in the group of billion-dollar IT service businesses globally.

Revenue from Global IT Services segment officially surpassed the $1 billion milestone

Technology sector (including Domestic IT Services and Global IT Services) continues to play a key role, contributing 60% of revenue and 45% of pre-tax profit of FPT Corporation, equivalent to VND 31,449 billion (+22.1%YoY) and 4,161 (+23.6% YoY) billion VND respectively. 

The year 2023 witnessed revenue from the Global IT Service segment surpassing $1B in revenue, reached VND 24,288 billion, up by 28.4%, profit before tax reached VND 3,782 billion, up by 27.1% over the same period last year. Notably, revenue grew in all markets, especially in Japan (up by 43.4% YoY) despite JPY depreciation, thanks to the rising demand for digital transformation in this market. In a recent development on December 16th, the company inked two collaboration agreements with prominent Japanese entities: Yamato Holdings, a major Japanese goods circulation enterprise, and TradeWaltz, a company that possesses Japan's foremost commercial information interactive platform.

Digital transformation revenue reached VND 10,425 billion, an increase of 42% over the same period, affirming the ability to provide effective and comprehensive digital transformation services of the company.

Global IT Services recorded newly signed revenue of VND 29,717 billion, up by 37.6% over the same period, including 37 projects with a scale of $5mn+, showing the shift towards large deals and the effectiveness of the “whale-hunting” strategy. 

Thanks to endeavors to enhance collaboration with government entities, ministries, international corporations, and sectors less impacted by economic challenges, Domestic IT Services segment maintained revenue growth of 4.6% YoY, reaching VND 7,161 billion and PBT of VND 379 billion (-2.6% YoY). With high applicability, Made-by-FPT ecosystem brought in 1,620 billion VND in revenue, growing 40.8% over the same period last year, continuing to be one of the Group's key growth drivers in the long term.

Telecommunication and Education sector continue to achieve sustainable growth

Telecommunications services segment grew by 8.8% over the same period last year, reaching VND 15,186 billion; PBT increased by 15.4%, reaching VND 2,895 billion. 

The strong demand for education in the IT industry has contributed to boosting FPT's Education revenue by 31% compared to the same period last year, reaching VND 6,159 billion.

FPT 2023 RECAP: MARKET EXPANSION

In 2023, FPT expanded its operations in foreign markets by inaugurating 5 new offices in Japan, Korea, China, Indonesia, and Mexico. By the end of the year, FPT has executed 4 strategic investments in the US, Japan, and France.

  • 28/02: Acquisition of Intertec International. This deal is part of FPT's strategy to broaden its global delivery capability, ensuring prompt support for customers across all time zones and geographical locations worldwide.
  • 24/10: FPT secured a strategic stake in one of the world's Top 10 AI companies. FPT and Landing AI, a leading US computer vision and artificial intelligence (AI) software company, signed a strategic cooperation to develop business opportunities and human resources.
  • 06/11: Acquisition of Cardinal Peak. FPT announced the acquisition of Cardinal Peak - a product engineering services company to improve competitiveness and service quality in the Americas, especially in new technology fields.
  • 06/12: Acquisition of French IT consulting firm - AOSIS. With the participation of AOSIS, FPT will expand its customer base and business opportunities, improve capacity in the fields of SAP, Data, Cloud and smart solutions for businesses focusing on industries like aerospace, aviation and transportation.

FPT 2023 RECAP: TECH ADVANCEMENTS

Enhance technological capacity through investment in new technologies and specific industries with high growth potential.

  • 28/02: FPT establishes automotive software company in US. Capitalizing on over a decade of expertise in the software technology sector, a workforce comprising over 5,500 skilled engineers and experts specializing in automotive software, and a clientele that extends to more than 150 globally renowned companies such as Honda, Hyundai, Volvo, VinFast, Ford, Yazaki, NXP, among others, FPT Automotive stands committed to meeting industry standards. With a focus on comprehensive services, including in-vehicle entertainment, ECU, safety functions, as well as wireless and digital connectivity, FPT Automotive is well-positioned to cater to diverse customer needs.
  • Patents in leading nations for core AI technologies, including machine learning, image recognition and processing. In November 2023, the US Patent and Trademark Office (USPTO) formally issued a patent for a machine learning system designed to autonomously categorize and classify documents. This technology is currently implemented in two automated products, namely FPT's akaBot Vision and UBot Invoice. Additionally, FPT had previously received a patent from the USPTO for 3D point cloud processing technology, specifically tailored for tasks within the realm of 3D computer vision. Furthermore, the Japan Patent Office has granted a patent in the field of AI for FPT's image data recognition and processing technology. 

FPT 2023 RECAP: HUMAN RESOURCE DEVELOPMENT

By the end of 2023, FPT Education Organization has achieved the milestone of 145,000 full-time equivalent students across the system. Simultaneously, it has expanded its operations to 10 provinces and cities nationwide and established the Department of Semiconductor Circuits, which will welcome the first batch of trainees and students in 2024, with a focus on providing in-depth training in IC design and conducting research for Vietnam's semiconductor IC industry.

FPT 2023 RECAP: REAFFIRMING OUR POSITION

In 2023, FPT continues to affirm its leading position with domestic and international awards. 

  • Top 8 IoT service providers in Asia Pacific region.
  • Top 40 major technology service companies in Singapore.
  • Top 70 Best Large Workplaces in Asia, alongside world giants such as Accenture, HP, Cisco... evaluated by Great Place to Work.
  • Top 100 best places to work in Japan, Singapore, America.
  • Typical CSR enterprises of Vietnam and The most impressive community activities globally.

OUR BILLION DOLLAR JOURNEY FROM OVERSEA

With over two decades of global market experience, FPT has cultivated profound expertise in specialized fields poised for substantial future growth. This transformation, from "developing small applications" to "implementing core services" within customers' IT systems, has been instrumental in shaping FPT's billion-dollar overseas journey, marked by remarkable milestones.

Scale:

  • 1998: Started globalization strategy with 17 employees.
  • 12/2016: Reached 10,000 employees.
  • 9/2021: Reached 20,000 employees.
  • 1/2024: reaching 30,000 employees of more than 70 nationalities working in 30 countries globally. 

Revenue from oversea milestones:

  • 2002: First 1 million USD in revenue.
  • 2006: First 10 million USD in revenue.
  • 2013: First 100 million USD in revenue. 
  • 2021: First 500 million USD in revenue.
  • 2023: First 1 billion USD, entering the world-class playground - the playground of global billion-dollar IT service firms. 
  • 2030: 5 billion USD target - Leverage position in the group of billion-dollar IT service businesses globally.

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