2013

FPT STORY

Vu Thi Van Anh

Nguyen Van Duc
Nguyen Thi Thu
Ha
Ta Minh Phuong
Nguyen Dinh

Dr. Truong Thi Nam

Thang
CFVG MBA Intake 22

11/17/2013

FPT STORY
November 17, 2013

FPT
Past Present - Future

he event leaving FPT of billionaire Richard

Chandlers recently can be linked to that a rich man
was quickly disappointed with the beauty after only 2

years of marriage. That is lot of regret the market and

perhaps for the founders.
Orchid Fund sold more than 29 million shares, as 10.65%
percent stake of company for other investors, worth over
VND 1.3 trillion ($6.11 million) via negotiated transaction.
The motivation of this action is restructure overseas
investment portfolio.
Besides this, FPT is given unhappy news that ex CEO
Truong Dinh Anh also sold approximately most of his stock.

oes not the

FPTs profit attract

with investors?

re there the

argument between
Truong Dinh Anh and
FPTs management?

irstly, we analyze business operating results of FPT in recent years.

As can be seen clearly for the table, the total revenue is 25.350 billion
VND in 2012, it decreased than 2011 with 25.975 billion VND.
Moreover, ROE and EPS also deceased. In the September in 2013,
the EPS of FPT is only 4.134 VND/share. This affects to the choice
the investment. So, the leave of Orchid Fund is normal.
After 25 years of existence, The desire of the large and strong
change is probably the brief description of the number one
information technology group in Vietnam at this time. However,
implementation is another story, though FPT has accumulated a lot of
experience from decades past.
In 2012, the Group's results achieved do not like that. Although the
planned profit is down 15% but finally, FPT only completed 92% of
the plan. This year, the result is not much brighter, as the first 6
months consolidated revenue increased 9%, profit before tax
increased by 6% over the same period. Perhaps to reach the Forbes
500 list as expectation, the ship can accommodate tens of thousands
of people have to go much fast. But this ship around is not easy to
overcome challenges, such as competition from rivals, the creativity,
the constant change of technology and market taste.

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FPT STORY
November 17, 2013

Furthermore, for nine months in 2013, FPT earned VND 1,839 billion of pretax profit.
According to 2013 third-quarter business result recently published, FPT earned total revenue of VND
7,547 billion, increasing by 23% compared to the same period last year. Profit-before-tax of the
third-quarter reached VND 563 billion, increasing by 2% compared to the same period in 2012.
After nine months, FPT earned a total revenue of VND 20,030 billion, increasing by 14% compared
to the same period last year and exceeding 11% of the 9-month plan, equivalent to 74% of the year
plan . Profit-before-tax reached VND 1,839 billion, increasing by 5% compared to the same period in
2012, completing 105% of the eight-month plan, equal to 70% of the year plan.
Profit-after-tax was VND 1,524 billion and profit-after-tax of holding company was VND 1,134
billion, respectively increasing 6% and 4% compared to the same period of the prior year,
completing 69% and 70% of plan for the entire year. Earnings per share (EPS) were VND 4,134, an
increase of 3% compared to the same period last year.
However, the one of reasons making the reduction of FPTs profit is the economy crisis
Vietnam and over the world.
Economic Report for the first nine months of 2013 issued by the Ministry of Planning and
Investment shows that many important economic indicators have improved significantly.
Estimatedly, the GDP has increased 5.14 percent compared with the same period in 2012, improving
steadily over each quarter (first quarter: 4.89 percent, second quarter: 5 percent). In which, GDP of
key areas such as agriculture, forestry and fisheries rose 2.39 percent, construction and industry 5.02
percent and services about 6.25 percent. The index of industrial production (IIP) also has shown
gradual growth over the early months of 2013: 4.9 percent in the first 3 months, 5 percent in the 6
months, and 5.4 percent in the 9 months.
As for foreign direct investment (FDI), as of September 20th 2013, there were 872 projects granted
investment certificates with a total registered capital of US$9.3 billion. ODA and preferential loans
during the first nine months has reached US$4.59 billion, an increase of 8.83 percent compared to
the same period last year, of which the disbursed amount was US$3.13 billion.
However, another pessimistic assessment from Head of the PCCs Economic Commission, Mr
Vuong Dinh Hue warned that many objectives of socioeconomic development set out at the 11th
Party Congress could not be completed in time, leading to the prospect of Vietnam lagging far more
behind than other regional economy. Additionally, many core weaknesses of the economy which
exist for a long time, now fuelled by the global financial crisis and economic downturn has been
clearly exposed.
Based on these facts, Vietnams GDP in 2013 was set to 5.4 percent increase. GDP estimated for
2011-2015 was 5.8 percent, fails to meet the initial target of 7 - 7.5 percent increase (after being
raised from 6.5 - 7 percent). Meanwhile, inflation rate for the period was thought would grow 9.2
percent while the objective was of 5 - 7 percent increase. In short, while the macro economy full of
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FPT STORY
November 17, 2013

recovery indicators continue to send out weak signals, Vietnam is stuck in a dilemma, having been
forced to choose either enhancing growth or controlling inflation.

Are there the problem

in human management?
Comeback to the divestment of Truong Dinh Anh with that question
Within 5 years (from 2009 to 2013) FPT change CEO 4 times. The latest change is in July 2013 with
a new CEO Bui Quang Ngoc. Mr Ngoc is the first generation founder of FPT, a president who is
ac claimed as strong tactical deployment and is expected to combine well with the strength of Mr.
Binhs strategy. But this also begs the question that why FPT, a technology company, continues the
F1 generation options for leadership positions in the investment phase?

In addition to changing the operating level, FPT

will not hide ambitions reaching to big dream,
becoming the leading technology corporations
in Asia and in the world. To more specific, FPT
to reach $ 2 billion in revenue in the next 3
years and will particularly shortlisted 500
information technology companies leading in
2024. FPT will increase the number of
employees from 15,000 at present to 100,000 in
just 3 years; conducted M & A with potential
partners is to promote growth. In addition, the
Group will invest strongly and hope to compete
fairly with the corporation's leading information
technology in the trendy that technology today
is cloud computing (cloud computing), mobile
technology (mobility) and big data (big data).

leading to the departure of senior leaders so far

and this is also a challenge in the process of
transferring the OS in this group.

In his strategic thinking, maybe Mr. Binh wants

to remove product delivery technology that
many people named FPT, to turn it into
deployed system integration powerful in the
region. "FPT corporation wants to become
smart service providers leading global position
in all ecosystems (ecosystem). Whenever
people mention cloud computing, mobile
technology, big data is referred to FPT" said
Truong Gia Binh.

After nearly 2 years of his strong enforcement

and corporate restructuring have very tough
spokesman: the overlapping place, it is not
necessary to cut. In the matter of public
concern is that this group claims to stop plans
to invest in EVN Telecom and one of the
important tasks of the executive board FPT
regains deposits of 700 billion deal EVN
Telecom.

But perhaps the biggest challenge in FPT is in

its internal FPT that FPT must find ways to

In the past, FPT transfers the management for

the young generation, but it is not success. In
February 2011 Truong Dinh Anh was appointed
General Director of FPT. Shortly after taking
office, the new CEO has declared FPT stated
goal to work towards growing 4 times in 2014.
"Even this year (2011 ), in the next quarter, we
must take action to reach targets 30%
growth/year and push up the growth rate of
40%/year over the coming years," - he said.
Meanwhile, FPT only targets 19 % growth in
profits in 2011.

FPTs written statement: "The transfer of the

CEO position is a process in which, for nearly
two years as CEO of FPT, said Nguyen Thanh

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FPT STORY
November 17, 2013

harmonize and promotion of the tremendous

human resources that they are holding. In this
group, there may be a lot of very talented people
and personalities, with different perspectives
that is difficult to reconcile. That is the reason

Nam has completed the most important task is

to plan for growth FPT's development in the
new period, additional senior staff and build
new brand strategy group.

In the next phase, FPT and need a new leader

Truong Dinh Anh is considered the most
suitable for this position. In particular, 2011 was
the first year FPT implementation plan with the
goal of long-term profitable growth 4 times in 4
years (2011-2014). FPT aims to reach the Top
500 list of top companies in the Forbes Global
2000 Forbes Magazine. Forbes kilometers into
the FPT divided into 3 phases: 2011-2014,
2015-2019 and 2020-2024."

In 2011, the period of Truong Dinh Anh, the

profit of company has the strong change. As
can be seen the above charts.

Truong Dinh Anh He has held key positions at

FPT FPT as Vice President, General Director of
FPT Telecom Joint Stock Company (FPT
Telecom) and is currently the Chairman of the
Board FPT Telecom.

However, after more than a year in office as

General Director of FPT Corporation, dated
09/26/2012, Mr. Truong Dinh Anh has
unexpectedly resigned "because of differences
in the strategic planning and operating modes
with Board ".

FPT Telecom under the guidance of Mr. Truong

Dinh Anh became one of three businesses which
have the greatest influence on the development
of the Internet in Vietnam in the past 10 years
(1997-2007) and achieved revenue growth
average for 5 consecutive years approximately
50 % / year. In 2010, FPT Telecom revenue of
2.450 billion, up 33 % and the business, to bring
the highest return of FPT.

The rate of revenue rose from 10% in 2010 to

27% in 2011. In addition, the EPS increased to
7.861 VND/share. This is the period with the
highest profit. This is the significant change.
FPT does not deny the ability of Truong Dinh
Anh.

So, the selling the most of shares of Truong

Dinh Anh is predicted involving the leaving
from Chairman of BOD. Now, without any
reasons, we will wait to change in FPT to
reach the Forbes 500 list with the new CEO
Bui Quang Ngoc in the near future.

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CFVG.MBA22.CG.FPT Story

FPT STORY
November 17, 2013

CORPORATE CULTURE
AND SOCIAL RESPONSIBILITY
When saying about FPT, one thing that we do not deny about the strength of FPT is culture of FPT.
FPTs culture is the connecting glue to bind each FPT people, encouraging them to work
passionately and devote more to the companys development. For nearly twenty five years, valuable
characteristics have been formed, making FPTs culture distinctive and become the pride of each
employee, contributing remarkable part to today success of the company. The companys regular
cultural events not only conserve and promote traditional values but also meet the entertainment
requirements of the employees, releasing them from the stress and tension at work.
FPT is one of few companies in Vietnam who maintain traditional festivals for years, including:
For the Community Day (March 13) - organizing various voluntary and charitable activities and
programs, raising the awareness and mercy for the in-need- community of FPT people.
FPT Sporting Day (March 26) encouraging healthy fitness through sporty activities.
Commemorating the Ancestor Day (March 10 in lunar calendar) organizing pilgrim visits to
historical relics to remind employees of the nations history and waken their patriotism and national
pride.
FPT Musical Festival (May 19) organizing musical performances and dances to enrich spiritual
life of FPT employees.
FPT Anniversary (September 13) including various art performance and sport games to conserve
traditional value of FPT.
FPT Family Day (the third Saturday of November) this is the day for FPT and its employees to
express their gratitude to their parents and spouse.
FPT Lunar New Year Celebration (December 22 in lunar calendar) whenever the Lunar New
Year comes, the FPT people gather and celebrate a purely traditional year-end party to cheer up
themselves after a hard-working year.
Welcome Day (the first Saturday of a month) is the day to welcome new members to the company,
having them fully informed about the company to facilitate their integration.
This is the connecting glue for each FPT people, encouraging them to work passionately and devote
more to the companys development.
Not only focusing on the employees, FPT leads to Corporate Social Responsibility.
FPT collaboration with the Ministry of Education and Training competitions held fast through the
Internet for math courses from level 1 to level 3 - ViOlympic, now there are more than 11 million
members.

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FPT STORY
November 17, 2013

Besides, the company also builds the largest volunteer network Vicongdong in Vietnam, attracting
more than 50,000 members from over 500 voluntary groups. Vicongdong Network has successfully
organized Swallow award, the award became public and enticed young people to emulate many of
the practical projects to help society.

Additionally, FPT also focused on cultivating young talent through the study promotion funds,
scholarships, training new policy...
Questions:
1. Discuss about different points in the culture and CSR of FPT Corporation?
2. How do you evaluate about strategy "one FPT"? Refer to company CSR?
3. What is the main reason leading to the unsuccessful transfer of leadership?
Resources:
http://fpt.com.vn
http://chungta.vn/tin-tuc/kinh-doanh/2013/03/fpt-phat-trien-csr-bang-chien-luoc-3p/
Newspaper: The BusinessReview FPT and the leaving of foreign investor.
http://www.thongtincongnghe.com/article/22404
http://vccinews.com/news_detail.asp?news_id=29242

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FPT STORY
November 17, 2013

APPENDIX
CG SYSTEM OF FPT CORPORATION
I.

ORGANIZATIONAL CHART

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FPT STORY
November 17, 2013

BOARD OF DIRECTOR
Truong Gia Binh
Chairman & CEO
Mr. Truong Gia Binh graduated with a major in Mechanical
Mathematics from Lomonosov University, Moscow in 1979, where he
later obtained his Ph.D. in 1982. He was awarded Associate Professor
title in 1991 by the government.
Founded FPT in 1988, since then, Mr. Truong Gia Binh has been the
coordinator and the driving force behind FPTs synergies. A man of
vision, he has identified important strategic directions in each phase of
the Corporations development that have maintained FPTs
outstanding growth.
He is currently FPTs Chairman, President & CEO. In addition, he is
the Chairman of Vietnam Software and IT Services Association
(VInASA) and a member of Vietnams national Competition Council.

Bui Quang Ngoc

Vice Chairman
Mr. Bui Quang Ngoc graduated with a major in Mathematics from The
University of Kishinev, the Republic of Moldova in 1979. He
successfully completed his Ph.D. in Database at Grenoble University,
France in 1986.
He has been FPT's leading IT expert since 1990s and was honored as
Indochinas one out of ten most outstanding CIOs in 2005.
He is concurrently FPTs Chairman of Internal Audit Committee of
FPT Corporation.

Do Cao Bao
Director Boards Member
Mr. Do Cao Bao graduated from the Department of Control
Mathematics, Military Technical Academy in 1984.
He is currently the Chairman of FPT IS, the Chairman of Personnel
Committee of FPT Corporation, the Vice Chairman of Vietnam
Information Securitiy Association 1st tenure (2008-2012), Board
Member of Vietnam Association for Information Processing 6th
tenure (2007-2011) and 7th tenure (2011-2014).

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FPT STORY
November 17, 2013

Truong Dinh Anh

Director Boards Member
He graduated from Ha Noi National Economics University in
1992.
He joined FPT in 1993. Under his management, FPT Telecom Jointstock Company (FPT Telecom) has become one of the leading
telecommunication companies in Vietnam.
He was the founder of the first intranet network, which was recorded
having the most users in Vietnam called Tri Tue Viet Nam
(Vietnamese Intelligence) and was one of the founders of
VnExpress.net the most popular Vietnamese online newspapers.
He is also currently a member of the Board of Directors of FPT
Telecom.

Le Song Lai
Vice Chairman
He obtained a Master of Laws from Ha Noi National University in
1998, and from the University of Cambridge (UK) in 1999. He is
currently the Vice President of the State Capital Investment
Corporation (SCIC).
He was nominated as a Board member of FPT Corporation in the
2012- 2017 tenure by The State Capital Investment Corporation, a
major shareholder of FPT Corporation which holds 6.16% of FPT
stock as of March 13th, 2012.

Le Nu Thuy Duong
Director Boards Member
Ms. Le Nu Thuy Duong obtained the Master of Business
Administration degree from the Maastricht School of Management, the
Netherlands in 2003, and is currently pursuing a Ph.D. in Business
Administration at the Asian Institution Technology, Thailand.
She is the General Director of Huy Hoang Garment Joint Stock
Company, the Deputy General Director of Long Thanh Golf
Investment and Trading Joint Stock Company, and the Director of
Thien Duc Trading & Construction Co., Ltd.
She was nominated as a Board member of FPT Corporation in the
2012 - 2017 term by Orchid Fund, a major shareholder of FPT which
holds 9.80% of FPT stock as of March 13th, 2012.

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FPT STORY
November 17, 2013

JEAN-CHARLES BELLIOL
Director Boards Member
He graduated as a Master of Business Administration from the Ecole
Supeieure de Commerce de Reims (France).
Jean-Charles has worked in Vietnam for 11 years as a General Director
of a famous French bank in Vietnam. He is an expert in the banking
sector with 23 years of experience in corporate finance, financial
engineering and project finance. Currently, he is the French Trade
Counselor, and Chief Representative of Tri Tin International Hanoi
(TTI).
He was nominated as a Board member of FPT Corporation in the 2012
- 2017 tenure by Red River Holdings, a major shareholder of FPT
which holds 5.26% of FPT shares as of March 13th, 2012.

The Resolution
No

Resolution No.

Dated

01A.01-2012-NQFPT-HQT

01.03-2012-NQ-FPTMarch 28th
HQT

3
4
5

January 31st

03.04-2012-NQ-FPTApril 12th
HQT
01.08-2012-NQ-FPTAugust 9th
HQT
03.08-2012-NQ-FPTAugust 30th
HQT

Content
Approval for the establishment of FPT Digital
Retail JSC (FRT)
Approval for the Agenda and content to be
submitted to FPT 2012 Annual General
Meeting of shareholders
Approval for the proposed list of BOD
members
Approval for first advancement of cash
dividend in 2012 of FPT Corporation
Approval for 2012 adjusted guidance

01.09-2012-NQ-FPTSeptember 26th
HQT

01.011-2012-NQFPT-HQT

November 6th

Approval for calling for extraordinary

meeting of the BOD
Approval for the dismissal of Mr. Truong
Dinh Anh and CEO
Approval for the appointment of Mr. Truong
Gia Binh as President and CEO
Approval for 2rd advancement of 2012 cash
dividend

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FPT STORY
November 17, 2013

II. THE SUPERVISORY BOARD

Nguyen Viet Thang
Head of the Supervisory Board
He is currently pursuing a Ph.D. in Economics. He graduated from Ha
Noi University of Commerce in 1989 and obtained an MBA from
Rushmore University, the U.S. in 2006.
Since 1997, Mr. Nguyen Viet Thang has been working at the
Department of Business Administration at Ha Noi National University.
Since October 13th, 2009, he has been the Vice Rector of FPT
University.
He has been a member of the Supervisory Board since 2008. He was
elected as the Head of the Supervisory Board at the 2012 Annual
General Meeting.

Nguyen Khai Hoan

Supervisory Boards Member
He graduated from the Academy of Finance (Russia) in 1999.
He received his Ph.D. in Economics, majoring in Investment, from the
Institute of Economics, Russia in 2003
In 2003, he joined FPT. From 2005 to 2010, he undertook the position
of the Head of Finance Department and Chief Accountant of FPT
Software. Since January 1st, 2011, he has been appointed as the
Executive Vice President and CFO of FPT Software.

Cao Duy Ha
Supervisory Boards Member
Mr. Cao Duy Ha obtained Honorary Degree in Economics from the
University of New South Wales, Australia and Bachelor of Banking
and Finance from the University of Newcastle, Australia. He is
currently a Level III candidate, CFA Program.
He is currently entitled the Deputy Manager of Executive Department
of The State Capital Investment Corporation (SCIC). He is a member
of Board of Directors and Supervisory Board of various corporations
in SCICs portfolio; in particular, he was elected as the Head of
Supervisory Board of Vietnam National Seed Corporation (NSC) for
the tenure 2012-2017, and Member of FPTs Supervisory Board, for
the tenure 2012 2017.
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FPT STORY
November 17, 2013

Compensation Policy
In 2012, the compensation plan for the BOD and SB of FPT Corporation has been approved by the
Annual General Meeting of shareholders for the amount of VND 5.4 billion, and VND 388.2 million,
respectively. In specific, actual expense in 2012 was: BOD (5.17 billion) and SB (260.4 million)

No
1
2
3
4
5
6
7

Board member

Salary

Bonus

Other
benefits

Total

33%
33%
53%
44%
0%
0%
0%

67%
6%
47%
53%
0%
0%
0%

0%
0%
0%
4%
100%
100%
100%

100%
100%
100%
100%
100%
100%
100%

Truong Gia Binh

Bui Quang Ngoc
Do Cao Bao
Truong Dinh Anh
Le Nu Thuy Duong
Le Song Lai
Jean Charies Belllil

III. ACTIVITIES OF THE BOARD OF DIRECTORS

Meetings conducted by the BOD in the previous term, until April 2012:
No.
1
2
3
4
5
6
7
8
9
10
11

Board member
Mr. Truong Gia Binh
Mr. Le Quang Tien
Mr. Bui Quang Ngoc
Mr. Hoang Minh Chau
Mrs. Truong Thi Thanh Thanh
Mr. Nguyen Thanh Nam
Mr. Nguyen Diep Tung
Mr. Truong Dinh Anh
Mr. Do Cao Bao
Mr. Hoang Nam Tien
Mr. Jonathon Waugh

Title
Chairman
Vice chairman
Vice chairman
Vice chairman
Vice chairwoman
Member
Member
Member
Member
Member
Member

Participation rate
2/2
2/2
2/2
2/2
2/2
1/2
2/2
2/2
2/2
2/2
2/2

Meetings conducted by the BOD for the term 2012 2017

No.
1
2
3
4
5
6
7

Members
Mr. Truong Gia Binh
Mr. Bui Quang Ngoc
Mr. Do Cao Bao
Mr. Truong Dinh Anh
Mr. Le Song Lai
Ms. Le Nu Thuy Duong
Mr. Jean-Charles Belliol

Title
Chairman
Vice chairman
Member
Member
Member
Member
Member

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CFVG.MBA22.CG.FPT Story

Participation rate
4/4
4/4
4/4
3/4
3/4
3/4
4/4

FPT STORY
November 17, 2013

In 2012, the Board of Directors of FPT Corporation had periodic and ad-hoc meetings, and sought
for written opinions to make timely decisions for the following matters:
Meeting
sessions
Session 1
dated
February
22nd, 2012

Participants
(members)
BOD: 10/11
Observers:
- Supervisory
Committee: 1/3
- The BOM: 3/3

Session 2
dated
April 10th,
2012

BOD: 10/11
Observers:
- Supervisory
Committee: 2/3
- The BOM: 3/3

Session 3
dated
August
29th, 2012

BOD: 7/7
Observers:
- Supervisory
Committee: 3/3
- The BOM: 3/3
Session 4 BOD: 6/7
dated
Observers:
September - Supervisory
26th,
Committee: 3/3
2012
- The BOM: 2/3
Session 5 BOD: 6/7
dated
Observers:
November - Supervisory
22nd,
Committee: 2/3
2012
- The BOM: 3/3

Session 6 BOD: 6/7

December Observers:
28th, 2012 - Supervisory
Committee: 3/3
- The BOM: 3/3

Content
- The Management Board reported business performance for the
first two months.
- Chief Strategy Officer (CSO) reported the implementation of
OneFPT strategy and schedule for OneFPT strategy
implementation roadmap in 2012.
- Presented the internal company ranking initiative, and assigned
Board of Directors Standing Committee (EXCO) to review and
complete the policy.
- Presented the amended Regulation on FPTs Board of Directors
and Management Board structure and operations (Version 2.0).
- Proposed the investment plan to member companies, including:
FPT Information System, FPT Software, FPT Trading Group, and
FPT Education.
- Approved the proposal on Agenda of the Annual General
Meeting of shareholders 2012, and proposed members of Board
of Directors and Supervisory Committee of FPT Corporation for
the term 2012 2017.
- Presented the draft Resolution of the Board of Directors on
FPTs culture.
- Approved the adjusted guidance for 2012 performance as per
the Management Boards proposal.
- Proposed compensation for Board members.
- Proposed the amendment to Corporate Governance Policy.
- Approved the ad-hoc meeting of the Board of Directors
- Approved the dismissal of Mr. Truong Dinh Anh from the
President and CEO position, and appointment of Mr. Truong Gia
Binh as the new President and CEO.
- The Management Board presented the business performance of
the third quarter, and to anticipate the ability to meet 2012
guidance.
- Presented on FPT Strategy for the three years from 2013 to
2015, which focus on the development towards becoming a
global provider of SMART services, in line with targets in the
moderate guidance, and case by case, subject to market
conditions, would consider revise guidance to the better or worse
scenario.
- The Management Board presented the business performance
results in 2012
- The Management Board presented the business outlook for
2013
- The Personnel Committee presented the successive leadership
planning and mentoring program.
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FPT STORY
November 17, 2013

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CFVG.MBA22.CG.FPT Story

IV. FINANCIAL INFORMATION

Ordinary share

Number of
share
273,768,110

Treasury share

Types of share

Total

99.97%

Par value
(VND)
10,000

80,723

0.03%

10,000

273,848,833

100.00%

Unit: VND in billions

ITEM

shareholders
EPS (VND)
- Gross margin
- Net operating margin

1:1
1:0

2012 FINANCIAL PERFORMANCE

Total revenue
Profit before tax
Profit after tax
Profit after attribute to parent companys

Voting right

2010

2011

2012

2012 YOY GROWTH

20,517
2,023
1,692

25,978
2,502
2,079

25,350
2,407
2,407

-2%
-4%
-5%

1,265

1,682

1,540

-8%

5,139
19.4%
9.1%

6,276
19.1%
9.3%

5,665
18.5%
9.1%

-10%

FINANCIAL STRENGTH
METRICS
Current ratio (times)
Quick ratio (times)
Cash and cash equivalent (VND in billions)
Cash flow from operations (VND in billions)

2008
1.1
1.5
1,243
1,371

2009
1.3
1.6
2,311
2,311

2010
1.2
1.6
1,436
1,436

2011
1.3
1.0
2,902
2,902

2012
1.5
1.1
2,319
2,319

FINANCIAL PERFORMANCE BY BUSINESS SEGMENTS

BUSINESS SEGMENTS

Telecommunication services
Software development

REVENUE

% CHANGE

PROFIT BEFORE TAX

% CHANGE

(VND IN BILLIONS)

YOY

(VND IN BILLIONS)

YOY

2,750
2,340

17%
24%

691
496

26%
-1%

FPT STORY
November 17, 2013
Distribution and manufacturing of
mobile handsets
System integration
Digital content
Distribution and manufacturing of

7,399

-21%

251

-21%

2,919
1,812

-11%
60%

322
203

-19%
-19%

5,912

-6%

182

-9%

1,026

51%

-35

n/a

680
508
3

30%
28%
-96%

98
146
53

71%
9%
-44%

25,350

-2%

2,407

-4%

IT products
Retailing of IT and mobile
products
IT services
Education
Others

Total

Page 17
CFVG.MBA22.CG.FPT Group Assignment