Business Performance Analysis
Overall evaluation
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In 2023, the Corporation sustained its impressive growth trajectory, with revenue reaching 52,618 billion VND and profit before tax reaching 9,203 billion VND. This marked a significant increase of 19.6% and 20.1%, respectively, compared to 2022, surpassing the planned target set forth at the annual General Meeting of Shareholders.
IT Services revenue from foreign markets officially surpassed the 1 billion USD milestone, amounting to 24,288 billion VND, representing a notable growth of 28.4% over the same period. This growth was primarily driven by heightened demand for digital transformation globally, particularly evident in the Japanese market, which experienced a revenue growth of 52.2%, and the Asia-Pacific market, with revenue growth of 37.7%. In 2023, revenue from Digital Transformation Services exhibited robust growth, soaring by 42% compared to the previous period, reaching 10,425 billion VND. This segment accounted for 43% of the total revenue generated by IT Services from foreign markets. Such substantial development underscores the heightened demand for digital transformation among businesses as well as solidifies FPT's position and capability in providing services aligned with cutting-edge technology, setting it apart from other global industry leaders.
Furthermore, the Corporation intensified its development collaborations with major global partners to expand its operational scope, enhance capacity, and elevate its position in the value chain. In 2023, FPT strategically invested in Landing AI, a premier American company specializing in computer vision and AI software, and acquired three other prominent technology firms worldwide: Cardinal Peak (US), AOSIS (US), and Intertec (Latin America).
Due to proactive technological adoption, which facilitated seizing opportunities, expanding business operations, and optimizing operational processes, the Telecommunications sector, along with the Education, Investment, and Other sectors, sustained stable growth rates of 7.3% and 52.5%, respectively. These results demonstrated remarkable resilience, particularly noteworthy given the volatile domestic and international economic conditions.
Key business performance indicators in 2023