Business Performance Analysis
Telecommunications Services
In 2023, the Company remained steadfast, exerting continuous efforts to stay rooted in its core market areas, retain its customer base, and fiercely compete to achieve growth objectives while delivering exceptional customer experiences. As we embark on 2024, the inaugural year of our three-year strategic roadmap aimed at securing the number one position in fixed broadband internet telecommunications infrastructure in Vietnam, FPT Telecom will depart from conventional approaches. Instead, we will adopt innovative methods, transitioning from an infrastructure-focused company to a service-oriented one. We will vigorously leverage technology across all facets of our operations to streamline processes and enhance the overall system efficiency.
In 2023, Telecommunication Services Revenue and PBT reached 15,186 billion VND and 2,895 billion VND, respectively, marking an increase of 8.8% and 15.4% compared to the previous period.
The Broadband Services business segment sustained its stable revenue growth, achieving a 5.9% increase over the same period, amounting to 7,838 billion VND. This growth was attributed to concerted efforts to expand and closely monitor local market areas, ensuring the maintenance of nationwide market share. Additionally, the year marked a historic achievement for FPT Telecom as it reached 04 million Internet subscribers. This achievement signified a notable milestone in the telecommunications services segment. It reflected the solidarity, efforts, and dedication of frontline business units such as sales, customer service, infrastructure engineering, and back-office functions, working tirelessly day and night toward shared success.
Affirming its leading position in television technology and content provision, FPT continued to excel in 2023 by securing broadcasting rights for prestigious international tournaments with organizations such as UEFA, the NBA… as well as popular music programs, resulting in copyright revenue that surpassed expectations. Alongside the increased investment in copyrighted content, FPT leveraged its expertise in interactive technology to enhance the television service experience for customers, ensuring sustained double-digit revenue growth in the television service market.
Due to proactive investments and anticipation of rising data demands alongside compliance with the new Cybersecurity Law, the Data Center business segment achieved remarkable growth of over 20%, generating revenue of 20 million USD in 2023. Looking ahead, FPT plans to expand its Data Center infrastructure further, aiming to inaugurate the District 9 Data Center by the end of 2024, which will be one of the largest in Vietnam with over 3,000 rack cabinets. The focus remains on becoming the premier provider of Data Center Services in Vietnam and the region.