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IL FINANCIAL ANALYSIS OF THE COMPANY 01/01/2018 - 31/12/2022 1 Liquidity Analysis *Current liquidity ratio Liquidity is often measured using financial ratios and indicators, typically us

NGAN HANG NHA NUGC VIET NAM BO GIAO DUC VA DAO TAO

TRUONG DAI HOC NGAN HANG TP HO CHi MINH

GROUP PROJECT OUTCOME REPORT

FINANCIAL ANALYSIS OF FPT CORPORATION"

CORPORATE FINANCE

NHOM: 6 LOP: L18

Khoa hoc: K10 Giang vién: NGUYÊN THỊ NHƯ QUYNH

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2 COMPANY ACTIVITIES OVERVIEW 3

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THE OPENING STATEMENT

In the context of a business market that is becoming increasingly competitive and complex, capturing information about a company's finances is undeniably important In this report, our team will especially focus on analyzing and evaluating financial digital reports of one of the leading enterprises in Vietnam - FPT Company through the knowledge learned from the subject "Corporate Finance" to see the financial situation and performance of a business effectively FPT is one of the leading names in the field of information technology, studying their financial digital statements will help us have a closer look at the company's business performance and development potential and the trends and challenges they are facing

We would like to extend our heartfelt gratitude to the Banking University for including the Corporate Finance course in the curriculum In particular, we would like to express our deep appreciation to the lecturer of the course, Ms Nguyen Thi Nhu Quynh, for her guidance and imparting invaluable knowledge to our group throughout the study period The Corporate Finance course is both interesting and highly practical It ensures the provision of sufficient knowledge closely linked to the practical needs of students However, due to our limited knowledge and experience, there were inevitably some shortcomings and inaccuracies in our group assignments Despite our best efforts, we acknowledge that our group assignments may have some flaws and areas that require improvement We sincerely hope that you will consider and provide feedback to help us enhance the quality of our essay

Once again, we extend our heartfelt gratitude for your support and guidance

1Stock Codes FPT Corporation has two stock codes:

FPT Corporation (Code: FPT): This code is for FPT Corporation (English name: FPT Corporation), the parent company of FPT Group FPT has been listed on the Ho Chi Minh Stock Exchange (HOSE) since 2006

FPT Securities Corporation (Code: FTS): This code is for FPT Securities Corporation (English name: FPT Securities), a subsidiary of FPT Group operating in the securities sector FTS has been listed on the Ho Chi Minh Stock Exchange (HOSE) since 2017

Formation and Development Process

Established in 1988, with its primary business activity in providing products and services in the fields of information technology and telecommunications Initially, FPT was

established under the name The Food Processing Technology Company, operating in the fields of drying technology, information technology, and automation technology (The original abbreviation FPT stood for The Food Processing Technology Company) Later, it changed to The Corporation for Financing Promoting Technology — an investment and technology development company with core business activities in information technology In April 2002, it became a joint stock company In 1998, it became one of the first four internet service providers in Vietnam, marking a breakthrough development for this sector in Vietnam

2 COMPANY ACTIVITIES OVERVIEW

2.1 Business Operations Overview

FPT's revenue has consistently grown over the years at an average annual growth rate

of 20% In 2023, FPT achieved significant milestones with revenue reaching 52.618 trillion VND and pre-tax profit hitting 9.203 trillion VND, marking increases of 19.6% and 20.1% respectively This remarkable performance stems from a stable business foundation with sustained high growth maintained consistently over a long period Since the restructuring of the group's operational model in 2018, FPT has experienced strong and continuous growth in both revenue and profit each year It ranks in the top 1% of the best-performing enterprises on the stock exchange in Vietnam, with impressive revenue and pre-tax profit growth rates averaging 17.46% per year and 5.557 trillion VND over the period 2018-2022, respectively This success is attributed to various factors, including digital transformation, export markets, technology segments, human resources, business strategy, favorable business environment, and government policies

Lãi trước thuế

Nguôn: FPT, người viết tỗng hợp

FPT continues to pursue its long-term goal of becoming a digital enterprise By 2030,

it aims to be among the top 50 leading companies globally in providing comprehensive digital transformation services and solutions

2.2 Company Position

* In the Information Technology Sector:

outstanding achievements in the field of information technology It has achieved over

1 billion USD in revenue from foreign markets, ranked among the Top 500 largest IT companies globally by Gartner, and voted as the best IT enterprise in Vietnam for 10 consecutive years by VINASA The conglomerate contributes 33% of revenue and 37% of profits to the group, with a growth rate of 16.1% and 17.6% compared to the same period With a widespread network of over 22,000 employees and operations in

26 countries worldwide, FPT is asserting its position as the leading technology conglomerate in Vietnam and a trusted partner of organizations and enterprises

worldwide

*In the Telecommunications Sector:

telecommunications sector, FPT Group has generated 33% of total revenue, a 16.1%

increase compared to the same period, and pre-tax profits of 2.818 trillion VND, accounting for 37% of total pre-tax profits, up 17.6% compared to the same period Notably, FPT Telecom, the second-largest telecommunications service provider in Vietnam after Viettel, is a significant contributor within this sector With over 7 million fiber optic internet subscribers, 1 million television subscribers, and 15 million mobile subscribers, FPT Telecom is gradually asserting its position in the market with

a focus on enhancing investments in 5G telecommunications infrastructure This is aimed at improving the quality of infrastructure and domestic data services to meet the increasingly high demands of customers

*In the Distribution Sector:

Trading and FPT Distribution are leading distributors in Vietnam in these fields FPT Trading specializes in distributing information technology and telecommunications products, while FPT Distribution focuses on software products and technology solutions Additionally, FPT Shop is the leading digital technology retail system in Vietnam with over 650 stores nationwide FPT Shop is the official authorized retailer

of brands such as Apple, Samsung, etc., and is the trusted retail channel chosen by major technology brands

*In the Education Sector:

Education system, boasting over 100,000 students It offers diverse training programs ranging from undergraduate and college levels to short courses and soft skills training FPT Education promises to bring the greatest benefits to students with a team of reputable instructors and opportunities for collaboration with prestigious universities worldwide

2.3 Competitors

FPT faces fierce competition from both domestic and international competitors across

all its main areas of operation: Technology, Telecommunications, and Education Some

notable competitors include:

In the Technology Sector: Viettel Solution, VNPT Net, Misa

In the Telecommunications Sector: Viettel, VinaPhone,

In the Education Sector: Hanoi University of Science and Technology, Foreign Trade University,

IL FINANCIAL ANALYSIS OF THE COMPANY (01/01/2018 - 31/12/2022)

1 Liquidity Analysis

*Current liquidity ratio

Liquidity is often measured using financial ratios and indicators, typically used to assess a company's ability to repay debts and conduct daily business operations Current liquidity is the ability to repay debts due, measured by the current ratio:

Current ratio = Current assets / Current liabilities

If the current ratio is less than 1, it indicates weak debt repayment ability, and the company may face difficulties and bankruptcy risks If the current ratio is greater than 1, the company has a high likelihood of repaying debts due

According to the data provided in the Excel file "QUESTION 4" we have:

Based on the current ratio values of the company, the following evaluations can be made:

@ Year 2018: The current ratio is 1.2737 This indicates that the company has the ability

to pay off its debts due relatively well, as the ratio is greater than 1

@ Year 2019: The current ratio is 1.1787 Although still greater than 1, it has decreased compared to the previous year This may indicate a decrease in the company's ability

to pay off debts due compared to the previous year

@ Year 2020: The current ratio is 1.1452 It continues to decrease compared to the previous year, indicating a negative trend in the company's ability to pay off debts due

@ Year 2021: The current ratio is 1.1800 There is a slight increase compared to the previous year, but it remains stable above 1, indicating that the company still has the ability to pay off debts due

@ Year 2022: The current ratio is 1.2617 There is an increase compared to the previous year, indicating an improvement in the company's ability to pay off debts due Overall, despite minor changes each year, the company's current ratio remains above 1, indicating a relatively stable and positive ability to pay off debts due However, monitoring the trend of this ratio over the years is crucial to ensure that the company maintains a stable level of liquidity and ability to pay off debts due

*Quick liquidity ratio Quick liquidity is a ratio that shows how a company can pay off debts without the

need to process inventory

Quick liquidity ratio = (Current assets - Inventory) / Current liabilities

A quick liquidity ratio of less than 0.5 reflects that the company is facing difficulties in payment, indicating low liquidity A quick liquidity ratio in the range of 0.5 - | reflects a good ability to pay off debts, indicating high liquidity According to the data provided in the Excel

file "QUESTION 4" we have:

Years Quick liquidity ratio

Quick liquidity ratio is an important financial indicator to measure a company's ability to pay off short-term debts without having to liquidate inventory By excluding inventory from current assets, this ratio focuses on short-term liquidity without relying on inventory sales Below is a detailed analysis of the quick liquidity ratio values of the company over the years:

Year 2018: The quick liquidity ratio is 1.1809, higher than the threshold of 1 This indicates that the company has the ability to pay off short-term debts without needing

to liquidate inventory at a relatively good level

Year 2019: The quick liquidity ratio decreased to 1.0989 compared to the previous year Although still higher than 1, this decrease may indicate a decline in the company's ability to pay off short-term debts without needing to liquidate inventory

Year 2020: The quick liquidity ratio continued to decrease to 1.0875 This may indicate a negative trend in the company’s ability to pay off short-term debts without needing to liquidate inventory

Year 2021: The quick liquidity ratio increased to 1.1294, showing an improvement compared to the previous year and still remains high above the threshold of 1

Year 2022: The quick liquidity ratio continued to increase to 1.1815, indicating a continued improvement in the company's ability to pay off short-term debts without needing to liquidate inventory

Overall, despite minor fluctuations each year, the company's quick liquidity ratio remains high above the threshold of 1, indicating a relatively stable and positive ability to pay off short-term debts without needing to liquidate inventory This suggests that the company maintains a relatively stable level of liquidity and ability to pay off short-term debts over the years

profits |99618 |48292 |66.036 |04.194 |569 -539% |3320% |49,33% |-32/86% Total

accountin |3.857.60|4.664.53|5.263.45

ø _ proñt|2.555.20|0.511.70|6.629.96|6.337.206 |7.662.282.9

before tax |6 6 7 440.958 |59.880 2092% |l284% |20,40% |20,91% Profit after

2018: Short-term assets accounted for 61.85%, Long-term assets accounted for 38.15% 2019: Short-term assets account for 57.22%, Long-term assets account for 42.78%

2020: Short-term assets account for 61.37%, Long-term assets account for 38.63%

2021: Short-term assets account for 65.40%, Long-term assets account for 34.60%

2022: Short-term assets account for 59.90%, Long-term assets account for 40.10%

In the period 2018 - 2022, the difference in the ratio of short-term and long-term assets to total assets has little fluctuation This suggests that the change in the asset structure of the company during this time was not much

3.1 Short-term assets

According to the data provided in the Excel file "QUESTION 1" we have:

Table: Proportion of items in Current Assets in the period 2018 — 2022

Unit(%)

490% 625% 674% 100.00%6 109.00%6 100.009

Current assets in 2019 were VND 18,979,176,128,930 million, down 4.63% compared to

2018 (VND 18,406,087,226,041 million in 2018) By 2020, short-term assets will increase by 5.15% compared to 2019 and decrease by 0.48% compared to 2018 In 2021, short-term assets increased by 4.03% compared to 2020 And down to 5.5% compared to 2021 in 2022

In the period from 2018 to 2022, short-term financial investments always account for the highest proportion (above and below 20%), while short-term assets always account for the lowest proportion (4% or less) of the company's short-term assets

3.2 Long-term assets

According to the data provided in the Excel file "QUESTION 1" we have:

Table 2: Proportion of items in Long-term assets, 2018 — 2022

Unit(%)

100.00%

In the period of 2018 — 2022, Long-term assets increase and decrease unstable over time Long-term assets increased by 4.63% compared to 2018 and in 2020 decreased by 4.15% compared to 2019 2021 continued to decrease by 4.03% compared to 2022 Among the indicators of long-term assets in the period of 2018 — 2022, the target of fixed assets always accounts for the highest proportion (in the range of 20%), the indicator of long-term receivables always accounts for the lowest proportion

4 Capital situation (equity and liabilities)

(According to the data provided in the Excel file "QUESTION 1" we have)

Liabilities in 2022 decreased from 2021 by 9.2% and decreased from 2020 by 4.51% But liabilities in 2020 increased compared to 2018 and 2019

Equity