FPT Digital Retail Joint Stock Company (FRT) Q1 2023 earnings summary

Executive summary

• Q1 2023 net revenue was VND 7.753tn and consolidated net profit was VND 2.070bn; profit attributable to parent shareholders was a VND 5.074bn loss.

• Operating profit fell to VND 1.968bn from VND 202.556bn in Q1 2022, while financial expenses and selling expenses increased.

Financial highlights

• Net revenue was VND 7.753tn versus VND 7.786tn in Q1 2022; gross profit was VND 1.186tn versus VND 1.233tn.

• Cost of sales was VND 6.566tn versus VND 6.553tn; selling expenses rose to VND 913.156bn from VND 732.370bn.

• Financial income was VND 16.544bn versus VND 50.469bn; financial expenses were VND 86.376bn versus VND 54.657bn, including interest expense of VND 85.393bn.

• Consolidated net profit was VND 2.070bn versus VND 169.354bn; parent-attributable result was a VND 5.074bn loss versus VND 164.587bn profit.

Segment performance

• Operations comprise informatics equipment, mobile phones, components and related accessories, and pharmaceutical business; no segment-level financial results are stated.

• FPT Long Chau Pharma Joint Stock Company is listed as 88.50%-owned, with pharmaceutical business as its principal activity.