FPT Digital Retail Joint Stock Company (FRT) Q2 2023 earnings summary

Executive summary

• H1 2023 revenue rose to VND 14.924tn from VND 13.999tn YoY, while operating profit swung to a VND 204.1bn loss from VND 258.1bn profit.

• H1 consolidated net loss was VND 212.7bn; loss attributable to the parent was VND 223.7bn, with basic EPS of VND -1,642.

Financial highlights

• Net revenue increased to VND 14.924tn from VND 13.999tn YoY; gross profit rose to VND 2.268tn from VND 2.176tn.

• Cost of sales increased to VND 12.656tn from VND 11.823tn; selling expenses were VND 1.874tn and general and administration expenses were VND 461.5bn.

• Financial income fell to VND 26.0bn from VND 94.5bn, while financial expenses increased to VND 162.6bn from VND 115.3bn.

• Profit before tax was a VND 198.3bn loss versus VND 263.0bn profit YoY; consolidated net loss was VND 212.7bn versus net profit of VND 216.1bn.

Segment performance

• Operations comprise informatics equipment, mobile phones, components and related accessories, and pharmaceutical business.

• The pharmaceutical subsidiary is 89.83%-owned; operations are conducted in Vietnam, with branches across 63 provinces and cities.