FPT Digital Retail Joint Stock Company (FRT) Q4 2024 earnings summary

Executive summary

• FY2024 net revenue was VND 15.126tn, down from VND 16.185tn in FY2023; net profit was VND 168.544bn versus a net loss of VND 475.284bn.

• Q4 2024 net revenue was VND 4.222tn and net profit was VND 17.656bn, compared with VND 3.964tn revenue and an VND 88.485bn net loss in Q4 2023.

Financial highlights

• FY2024 gross profit reached VND 2.029tn, up from VND 1.637tn in FY2023; cost of sales fell to VND 13.098tn from VND 14.548tn.

• FY2024 operating profit was VND 192.733bn, versus an operating loss of VND 476.723bn in FY2023.

• Q4 2024 gross profit was VND 548.415bn, compared with VND 452.363bn in Q4 2023; operating profit was VND 13.813bn versus an operating loss of VND 83.602bn.

Key financial ratios and metrics

• At 31 Dec 2024, total assets were VND 7.132tn, equity VND 1.728tn and current liabilities VND 5.404tn.

• Cash and cash equivalents rose to VND 1.170tn from VND 652.134bn at 31 Dec 2023; short-term bank borrowings were VND 4.314tn, down from VND 5.187tn.

• Inventories were VND 3.507tn at year-end, with a devaluation provision of VND 45.414bn versus VND 29.197bn a year earlier.