FPT Digital Retail Joint Stock Company (FRT) Q3 2023 earnings summary

Executive summary

• 9M 2023 net revenue rose to VND 23.160tn from VND 21.708tn, while the period ended with a VND 225.704bn net loss after tax.

• Operations span informatics equipment, mobile phones and related products, plus pharmaceuticals; the retail network covered 63 provinces and cities, with 16,662 employees at 30 Sep 2023.

Financial highlights

• 9M net revenue was VND 23.160tn vs VND 21.708tn; gross profit was VND 3.639tn vs VND 3.373tn.

• Operating profit was a VND 202.732bn loss vs VND 360.953bn profit; pre-tax profit was a VND 196.968bn loss vs VND 368.772bn profit.

• Net loss after tax was VND 225.704bn vs net profit of VND 301.401bn; loss attributable to parent shareholders was VND 244.766bn vs profit of VND 295.818bn.

• Financial income fell to VND 47.341bn from VND 139.606bn; financial expenses rose to VND 227.944bn from VND 178.701bn, including interest expense of VND 221.017bn vs VND 155.825bn.

Segment performance

• Business activities comprise informatics equipment, mobile phones, components and accessories, and pharmaceutical business; FPT Long Chau Pharma is a subsidiary with 84.60% ownership.

• Viet Han Friendship is a 99.98%-owned subsidiary providing warehouse services; operations were conducted in Vietnam.