FPT: Posts VND 1,368 billion Profit-Before Tax in Q32019, +28% YoY, overseas market thrives

FPT’s revenue and profit before tax (PBT) in Q3 2019 increased by 17.7% and 30.2% YoY, achieved VND 7,104 billion and VND 1,368 billion, respectively. In 9M2019, consolidated revenue and PBT reached VND 19,597 billion and VND 3,507 billion, equal to 104.0% and 110.5% of the year to date (YTD) target. PBT margin was improved to 17.9% (16.8% in 9M2018).

• FPT reported 9M2019 net profit of VND2,378 billion, up 30.1% YoY.
• Overseas market contributed VND 8,221 billion in revenue, up 28.5% and VND 1,344 billion of profit before tax, up 29.4% YoY.
• Overseas market continued to grow strongly, US market revenue increased by 50%, Japanese market remains the biggest one.

FPT’s revenue and profit before tax (PBT) in Q3 2019 increased by 17.7% and 30.2% YoY, achieved VND 7,104 billion and VND 1,368 billion, respectively. In 9M2019, consolidated revenue and PBT reached VND 19,597 billion and VND 3,507 billion, equal to 104.0% and 110.5% of the year to date (YTD) target. PBT margin was improved to 17.9% (16.8% in 9M2018).

Source: FiinSight

In the 9M2019, overseas markets brought FPT with revenue of VND 8,221 billion, up 28.5% YoY and 1,344 billion, up 29.4% YoY. The overseas revenue and PBT contributed 42% and 38% to FPT’s result (In 9M2018, the proportions were 39% and 38%), respectively.

Source: FiinSight

Technology sector: PBT achieved VND 1,471 billion, up 41.8% YoY, driven by the core pillar – Global IT Services.

Global market: The segment’s revenue and PBT increased by 32.1% and 33.9% YoY, respectively. PBT margin was 16.0%, slightly increase from 15.8% in 9M2018.

With a strategic focus on digital transformation, this service line’s revenue was VND2,525 billion, up 35.2% YoY, contributing 32.4% to the global IT services’ revenue (this proportion in 9M2018 was 31.6%).

All market revenues achieved solid growth, especially in the US market - the second largest market – reached revenue of VND1,941 billion, up 59.8% YoY. Excluding Intellinet performance, this market’s revenue still achieved impressive growth of 50.6% YoY thanks to increasing sales from existing customers as well as enhancing FPT’s position in the US after Intellinet acquisition. Japan continued to be FPT’s most important market with revenue of VND 4,147 billion, up 24.0% YoY, accounting for 53% of the global IT services’ revenue.

Source: FiinSight

Domestic market: The segment’s revenue and PBT increased by 11.6% and 110.6% YoY, respectively. PBT margin was improved to 6.9% in 9M2019.

The total contract value signed was VND 3,378 billion, up 37.2% YoY. However, backlog balance for the domestic market was VND 2,253 billion by the end of September 2019, down 11.6% YoY.

Telecom sector: Revenue was VND 7,561 billion, up 16.6% YoY, thanks to telecom services.

Telecom services: Revenue and PBT increased by 16.8% and 18.4% YoY, respectively. Revenue from broadband services for individuals and households recorded a growth of 13.7% to VND 4,453 billion underpinned by acquiring new internet subscribers.

Online advertising: Revenue and PBT increased by 13.0% and 1.5% YoY, respectively.

Education sector: As of September 30th 2019, the total number of students of the education sector was 47,200.

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