- FRT released its 2022 results, including revenue of VND30.2tn (USD1.3bn; +34% YoY) and NPAT-MI of VND390bn (USD16mn; -12% YoY), completing 110% and 107% of our respective full-year forecasts.  As such, we see potential upside risk to our projections for FRT, pending a more extensive review. 

- In Q4 2022, FRT’s revenue was VND8.5tn (USD345mn; +0% YoY) with NPAT-MI of VND95bn (USD4mn; -72% YoY).

- Electronic retail chain FPT Shop’s revenue declined 22% YoY in Q4 2022, which was primarily driven by the global supply shortage of iPhones stemming from China’s commitment to its zero-COVID policy coupled with weak demand for laptops, while Q4 2021 was the high base of iPhones and laptop sales. In 2022, FPT Shop’s revenue advanced 11% YoY. Online sales increased 15% YoY to VND5.7tn (USD240mn), accounting for 27% of FPT Shop’s revenue in 2022.

Powered by Froala Editor