Analyst Pin-board FRT 2022 AGM Note – A Rapid Expansion of Long Chau and Resilient ICT to Drive 2022 Earnings
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· The AGM approved the 2022 financial guidance, in which targeted revenue/NPAT grow by 20% YoY/30% YoY to VND 27 trillion/VND720 bn. Our current 2022 forecasts for net sales and PBT are both 6% higher than approved guidance. · Approved cash dividend policy for 2021 and 2022 are VND 500 and VND 1,000 per share, respectively. The cash dividend for 2021 was equivalent to a payout ratio of 8.9%, while that of 2022 comes at 20.7% of our 2022F NPAT-MI. · Preliminary Q1-2021 results are solid with revenue surging by more than 65% YoY and net profit increasing fivefold to approximately VND 150 bn. 2022 Guidance: Long Chau to ramp up profit significantly, while FPT shop will maintain double-digit growth The AGM approved the 2022 financial guidance, in which targeted revenue/NPAT grow by 20% YoY/30% YoY to VND 27 trillion/VND720 bn. Both figures are 6% lower than our 2022 forecasts (Table 1). |
FPT Digital Retail Joint Stock Company is a Vietnam-based company engaged in the retail distribution of Information Technology (IT) and mobile products. The Company is an operator of two retail chains, including FPT Shop and F.Studio By FPT. It has 500 retail stores in 63 provinces across Vietnam. FPT Shop offers mobile handsets and other personal electronic products, such as tablets, laptops and computer accessories, among others. F.Studio By FPT is an authorized reseller store of Apple Inc. which distributes products under the trademark of Apple. The Company also offers pre-sales and post-sales customer services and a provision of telecom service agents. Its headquarter is based in Ho Chi Minh.
Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.
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