IT services fetch FPT $1B in 2022

By Dat Nguyen January 17, 2023 | 07:28 pm PT

FPT employees at work. Photo courtesy of FPT Corp

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, and this 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.