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FPT ahead of targets in Q1

Released at: 11:35, 27/04/2018

FPT ahead of targets in Q1

Photo: FPT

Revenue and profits at high levels in first quarter of year.

by Minh Do

FPT recorded revenue of VND4.7 trillion ($206.4 million) in the first quarter of 2018, equal to 104 per cent of the target, while profit before tax (PBT) was VND781 billion ($34.3 million), equal to 118 per cent of the target. Estimated revenue and PBT increased 22 per cent and 34 per cent, respectively, year-on-year, but actual growth in revenue and PBT were down 51 per cent and up 21 per cent.

Profit after tax (PAT) was VND653 billion ($28.6 million), up 21 per cent year-on-year. PAT attributable to the parent company’s shareholders was up 23 per cent to VND509 billion ($22.3 million), while earnings-per-share (EPS) was VND959, up 23 per cent year-on-year. The PBT margin was 16.4 per cent, up 2.5 times year-on-year.

The technology sector recorded revenue and PBT of VND2.4 trillion ($105.4 million) and VND250 billion ($11 million), up 27 per cent and 37 per cent year-on-year, respectively. The software outsourcing segment recorded revenue of VND1.6 trillion ($70.2 million), up 28 per cent year-on-year, with PBT at VND235 billion ($10.3 million), up 24 per cent.

In the first quarter, FPT signed a software contract worth $100 million with innogy SE (owned by the RWE Group) for the 2018-2024 period - the largest contract in its 30-year history. FPT will provide technological solutions for innogy SE based on SAP, IoT and digital transformation platforms.

Revenue in the telecom sector was up 15 per cent, to VND2 trillion ($87.8 million), with PBT at VND339 billion ($14.9 million), also up 15 per cent.

Overseas markets continued to be a key growth driver for FPT, with revenue increasing 29 per cent year-on-year to VND1.8 trillion ($79 million) and PBT up 36 per cent to VND272 billion ($11.9 million).

With a strategic focus on digital transformation, the service’s revenue from overseas markets was VND367 billion ($16.1 million), up 40 per cent year-on-year and contributing 22 per cent of software outsourcing revenue.

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