Vietnamese technology giant FPT (Fiat Power Technology Company) recently released its financial report for the first eight months of 2024, demonstrating the company’s strong growth momentum and significant performance in the global IT services market.

According to data published by FPT on September 18, the company achieved a pre-tax income of 39.66 trillion VND (over $1.5 billion) in the first eight months of 2024, a year-on-year increase of 20.8%. During the same period, the company’s pre-tax profit reached 7.07 trillion VND, up 19.9% year-on-year. These figures highlight FPT’s leading position in Vietnam’s tech industry and its continually growing business strength.

Further breakdown of the financial data shows that profit after tax attributable to the parent company’s shareholders reached 5 trillion VND, an increase of 22.5%. Earnings per share (EPS) reached 3,428 VND, up 22.2% year-on-year. These indicators not only reflect the company’s profitability but also demonstrate its ability to create value for shareholders.

FPT’s global IT services division performed particularly well, becoming the main driver of the company’s growth. This division’s revenue reached 19.9 trillion VND, a year-on-year increase of 30.4%. This growth was attributed to the company’s solid performance across all four of its main markets.

Among regional markets, Japan and the Asia-Pacific region stood out. The Japanese market revenue grew by 34.4% (37.2% in Japanese yen), while the Asia-Pacific market grew by 36.9%. These figures reflect FPT’s increasing competitiveness and market share in these key markets.

FPT’s global IT services contract revenue reached 22.7 trillion VND, an increase of 19%.

FPT specifically mentioned in the report that in the first eight months of 2024, the company completed 29 large transactions, each valued at over $5 million. This achievement underscores the strong global demand for FPT’s advanced technological solutions and demonstrates the company’s excellence in managing and delivering large-scale projects.

In the domestic market, FPT’s IT services division also performed well. This division generated revenue of 4.59 trillion VND, a growth rate of 10.6%. This growth was primarily driven by increased technology investment demands from the banking and financial sectors, reflecting the booming development of Vietnam’s fintech industry.

FPT’s financial report showcases the company’s business achievements and reflects the increasingly important position of Vietnam’s technology industry in the global market. As one of Vietnam’s largest technology companies, FPT’s performance can be seen as a microcosm of the overall development level of Vietnam’s tech industry.

Key points:

• FPT’s pre-tax income reached 39.66 trillion VND in the first eight months of 2024, up 20.8% year-on-year.
• Pre-tax profit for the same period was 7.07 trillion VND, up 19.9% year-on-year.
• Profit after tax attributable to parent company shareholders reached 5 trillion VND, up 22.5%.
• Global IT services division revenue grew by 30.4%, reaching 19.9 trillion VND.
• Japanese and Asia-Pacific markets grew by 34.4% and 36.9% respectively.
• 29 large transactions, each exceeding $5 million, were completed in the first eight months.
• Domestic IT services revenue grew by 10.6%, reaching 4.59 trillion VND.

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