IT services fetch FPT $1B in 2022
In this article (5)
At over VND25.5 trillion (US$1.09 billion), information and technology accounted for 58% of tech giant FPT’s revenues last year. Pre-tax profits were up 22.2% at VND3.42 trillion, or 45% of total profits.
Revenues shot up by 23.4% to VND44 trillion and profits by 20.8% to VND7.6 trillion.
Sales in key global markets soared, including 50% in the U.S. 36.4% in the Asia Pacific and 16% in Japan.
FPT signed 31 large foreign contracts worth $5 million or more.
Its revenues from telecommunications were up 16% at VND14.73 trillion, and from education, up 53% at VND4.71 trillion.
Last year the company became a strategic shareholder in Japanese business consultancy LTS Inc, which is expected to bolster its digital transformation consultancy capabilities in the Japanese and Asia-Pacific markets.
Established in 2005, FPT Japan has 2,000 employees and expects to double the headcount by 2025.
It also targets becoming one of Japan’s top 20 IT services companies by 2025 and revenues of $1 billion by 2027.
Questions & Answers
Q.Which specific regions saw the most significant growth in FPT's sales last year?
Which specific regions saw the most significant growth in FPT's sales last year?
Sales in the U.S. Soared by 50%, while the Asia Pacific region saw a 36.4% increase. Japan also contributed with a 16% rise in sales, indicating strong performance across key global markets for the company.
Q.What proportion of FPT's total revenues came from information and technology services in the last year?
What proportion of FPT's total revenues came from information and technology services in the last year?
Information and technology services accounted for 58% of FPT’s total revenues last year, reaching over VND25.5 trillion. This sector generated a substantial portion of the company's income.
Q.What are FPT Japan's growth targets concerning its workforce and market position by 2025?
What are FPT Japan's growth targets concerning its workforce and market position by 2025?
FPT Japan aims to double its current 2,000-strong headcount by 2025. Concurrently, it targets becoming one of Japan’s top 20 IT services companies by the same year, demonstrating ambitious growth plans.
Q.How will the acquisition of LTS Inc. Support FPT's strategic goals in the Japanese and Asia-Pacific markets?
How will the acquisition of LTS Inc. Support FPT's strategic goals in the Japanese and Asia-Pacific markets?
Becoming a strategic shareholder in LTS Inc. Is expected to bolster FPT’s digital transformation consultancy capabilities. This move aims to strengthen its market position specifically within the Japanese and wider Asia-Pacific regions.
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