Slides
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EARNINGS REPORT 12M2024 FPT CORPORATION
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52,618 62,849 2023 2024 FPT’s Revenue 9,203 11,071 2023 2024 FPT’s Profit-Before-Tax 7,788 9,420 2023 2024 FPT’s Profit-After-Tax As 2024 drew to a close, FPT maintained a robust growth trajectory of 20%, exceeding projections by accomplishing 102% of the annual objectives,... Unit: VND billion FINANCIAL PERFORMANCE IN 12M2024
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6,465 7,849 2023 2024 PAT to Parent company’s shareholder 4,052 4,940 2023 2024 EPS Unit: VND billion FINANCIAL PERFORMANCE IN 12M2024 ...with the ultimate goal of creating value and safeguarding the interests of shareholders. Unit: VND/share
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62% 28% 10% Revenue by sector Technology Telecommunication Education, Investment and Others 39,110 +24.4% +11.4% 6,129 +14.3% 47% 33% 20% PBT by sector Technology Telecommunication Education, Investment and Others 11,071 5,229 +25.7% 3,588 +17.9% 2,254 +12.7% 62,849 17,610 Unit: VND billion PERFORMANCE BY BUSINESS SECTOR
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DOMESTIC IT SERVICES 8,157 (+13.9%) in Revenue 460 (21.1%) in PBT GLOBAL IT SERVICES 30,953 (+27.4%) in Revenue 4,770 (+26.1%) in PBT TELECOM SERVICES 16,906 (+11.3%) in Revenue 3,420 (+18.1%) in PBT ONLINE ADVERTISING 705 (+13.6%) in Revenue 167 (+13.8%) in PBT EDUCATION, INVESTMENT AND OTHERS 6,129 (+14.3%) in Revenue 2,254 (+12.7%) in PBT 12M2024 PERFORMANCE BY BUSINESS SEGMENT Unit: VND billion
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By the end of 2024, Global IT Services segment sustained strong growth rate of 27.4% driven by remarkable performances in the Japanese market (+32.2%) and APAC (+34.8%), fueled by robust IT spending in these markets, particularly in digital transformation initiatives. Digital Rransformation revenues reached VND 14,263 billion, representing 37% YoY, with a focus on emerging technologies such as Cloud, AI/Data Analytics, Product Engineering,... 40% 25% 8% 27% Revenue by market Japan US EU APAC 8,240 +51.9% +9% 7,751 +32.2% (+36.3% JPY- based) 10,425 14,263 2023 2024 DX Revenue +34.8% 2,636 12,32530,953 Unit: VND billion GLOBAL IT SERVICES: ACROSS-THE-BOARD MARKET GROWTH
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Signed revenue continued strong growth momentum, reaching VND 33,592 billion (+13% YoY), fueled by Japanese and APAC. Over the same period, FPT secured numerous large international deals, winning 48 major projects valued at over USD 5 million each, reflecting a 50% YoY increase. 29,717 33,592 2023 2024 Signed revenue 215 253 2023 2024 Number of clients with revenue from $1M 32 48 2023 2024 Large deals ($5mn+) Signed revenue totaled VND 33,592 billion (+13% YoY) Signed revenue Semi-mega deals ($500k+): 238 (+8.7%) Mega deals ($1mn+): 223 (+35.2%) Large deals ($5mn+): 48 (+50%) Deals Number of clients with revenue from $500K : 379 (+9.2%) Number of clients with revenue from $1M : 253 (+17.7%) Clients Unit: VND billion GLOBAL IT SERVICES: 48 LARGE DEALS WITH SCALE OF $5MN+
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7,161 8,157 2023 2024 Domestic IT Services Revenue 380 460 2023 2024 Domestic IT Services PBT Unit: VND billion DOMESTIC IT SERVICES: MADE-BY-FPT SUSTAINED GROWTH TRAJECTORY Driven by efforts to strengthen collaboration with government agencies and ministries, as well as to promote Cloud Computing and Artificial Intelligence solutions for domestic enterprises, the Domestic IT Services segment reported revenue of VND 8,157 billion (+13.9%) and PBT of VND 460 billion(+21.1%). FPT’s Made-by-FPT product ecosystem sustained strong growth, achieving revenue of VND 2,267 billion (+31%), supported by its high applicability across both corporate and government sectors. 1,730 2,267 2023 2024 Made-by-FPT revenue
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Telecom Services segment maintained steady growth, with revenue reaching VND 16,906 billion (+11.3%) and profit before tax amounting to VND 3,420 billion (+18.1%). Unit: VND billion TELECOM SERVICES: SUSTAINABLE EXPANSION 7,838 8,800 2023 2024 Broadband 7,347 8,106 2023 2024 Others Revenue by business lines
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The Education segment continued its revenue growth, achieving a 15.1% increase, with total revenue of VND 7,088 billion in 2024. 6,159 7,088 2023 2024 Education Revenue Unit: VND billion EDUCATION SECTOR MAINTAINED GROWTH
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2024 IN REVIEW: EXPANDING OUR REACH Continues to expand presence, delving deeper into potential markets FPT continues to solidify global position with impressive expansion milestones: In March 2024, the Dalian office marked a significant step forward in fostering collaboration between China, Japan, and Vietnam. In September 2024, the Gothenburg office became a strategic foothold in Northern Europe, and in October 2024, the Middle East headquarters in Riyadh established FPT as the first Vietnamese enterprise operating in Saudi Arabia. Alongside our expansion in Malaysia and Germany, FPT proudly showcases Vietnamese excellence on the global technology map. Enhancing Capabilities with FPT’s First M&A Deal in Japan On March 1, 2024, FPT made history by acquiring 100% of Next Advanced Communications (NAC), a leading firm with 15 years of expertise and a top-tier engineering team, including global leaders in Salesforce and CRM. This move enhances FPT's technological strength and market presence. FPT also reinforced its strategic vision by partnering with Konica Minolta to establish joint ventures in Japan (April 2024) and Vietnam (September 2024), and collaborating with SCSK to launch the COBOL PARK project in March 2025, accelerating digital transformation in the region.
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2024 IN REVIEW: PIONEERING TECHNOLOGICAL EXCELLENCE Comprehensive partnership with NVIDIA FPT and NVIDIA have entered into a strategic partnership to drive AI research and development. Under this collaboration, FPT plans to invest $200 million to establish an AI Factory, train high-quality talent, and serve as a Service Delivery Partner within NVIDIA's partner ecosystem, empowering businesses across industries to adapt to the new era. Recently, FPT announced the launch of two AI Factories in Vietnam and Japan, providing world-class AI and cloud computing services. These facilities offer three core product lines: • FPT AI Infrastructure: GPU cloud services to accelerate AI model development. • FPT AI Studio: Tools to build and fine-tune models using NVIDIA NeMo. • FPT AI Inference: Efficient AI model deployment powered by NVIDIA NIM and AI Blueprints. Enhancing capabilities in emerging technologies, positioning Vietnam as a key link in the global technology supply chain In 2024, FPT achieved significant milestones in emerging technologies: accelerating AI integration across industries, boosting labor productivity with the xVista solution suite, expanding chip design capabilities through a joint venture with Taiwan, and training semiconductor talent. The company also advanced technologies such as AI First SDV, AUTOSAR, CDC, and developed products tailored to the automotive software sector. Additionally, FPT launched the FPT AI Agents platform and The Next for Enterprise solutions suite, alongside Made-by-FPT innovations, providing a robust foundation to support businesses in their comprehensive digital transformation journey.
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2024 IN REVIEW: SOLIDIFYING DOMINANT POSITION Record-breaking Multi-Million Dollar Projects After reaching a revenue milestone of $1 billion at the end of 2023, FPT made history once again with a $225 million project from a U.S. client, breaking all previous records. This client was a significant milestone for FPT, contributing to its first $100 million annual revenue and impressive growth with the addition of 500 employees in a short period. Beyond the U.S., FPT has reinforced its global presence with contracts valued over $100 million in several strategic markets. In June 2024, FPT secured its largest contract to date in Singapore, and in November 2024, the company successfully closed a contract worth over $100 million in the European market, marking a major advancement in its international expansion. Reinforcing Leadership with Numerous National and International Awards • FPT's brand value approaches $1 billion, ranking among the Top 5 Strongest Brands in Vietnam | Brand Finance 2024 • Top 10 Best Corporate Governance Companies in the Large-Cap Category | VCLA 2024 • Top 10 Best Places to Work in Vietnam 2024 • Largest IT Services Company in Southeast Asia within the Fortune 500 • Top 3 Large-Cap Companies with the Best IR Activities | IR Awards 2024 • Top 10 Vietnam Gold Star Brands