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FPT Retail’s General Meeting of Shareholders (FRT): In 2022, Fstudio chain will be renewed, Long Chau chain can profit up to 100 billion

The General Meeting of Shareholders of FPT Retail has approved the dividend plan for 2021 at the rate of 55%, the profit plan in 2022 to increase by 30%. In 2022, FPT Retail will renew the Fstudio chain, Long Chau can profit up to 100 billion VND.

On the morning of April 15, 2022, the General Meeting of Shareholders of FPT Digital Retail Joint Stock Company (FPT Retail, code FRT) was successfully conducted. Accordingly, the contents presented at the General Meeting were approved by the General Meeting of Shareholders.

FPT Retail closes the 55% dividend plan, the 2022 profit plan increases by 30%

In 2021, the parent company’s after-tax profit (on the consolidated financial statements) is more than VND 443.7 billion. FRT closed the plan of paying 5% cash dividend and 50% stock dividend. Accordingly, 5% cash dividend and 50% stock dividend will be paid in the third quarter of 2022 at the latest. It is estimated that FPT Retail spends more than 39 billion VND to pay dividends in cash and nearly 395 billion VND to pay dividends in shares.

In 2022, FPT Retail sets a target of VND 27,000 billion in net revenue, up 20%; pre-tax profit of 720 billion dong, up 30% compared to 2021. Planned cash dividend of 10%.

FPT Retail's General Meeting of Shareholders (FRT): In 2022, Fstudio chain will be renewed, Long Chau chain can profit up to 100 billion - Photo 1.

Source: FPT Retail

Answering the question of what is the growth driver of FPT Shop in 2022 when the demand for studying and working from home decreases after social distancing, FRT leaders said: When the Covid epidemic occurred, it created a learning environment. Online training and working from home should be an opportunity for retailers like FRT as well as other computer retailers. FRT has exploited these opportunities quite well and has reasonable solutions for goods and logistics to meet market demand.

After the epidemic, the need to work from home and study online will decrease. However, users already have the habit of using technology devices, so the audience using the product will be more and rejuvenated to students instead of mainly students as before. In addition, there is a large number of users who need to upgrade their devices after 2-3 years of use. Therefore, FPT Retail believes that this market always has potential for growth.

In 2021, online revenue accounted for 28%, achieving a growth rate of 21% over the previous year, most of which came from FPT Shop because it was familiar to consumers. In Long Chau, online sales account for about 5% due to legal restrictions on selling drugs online.

In 2022, FPT Retail will renew the Fstudio chain, Long Chau can profit up to 100 billion dong

At the meeting, FRT leaders said that FPT Shop is the first unit to work with Apple to bring Apple stores to Vietnam. So far, Apple in Vietnam has had a few other parties do it and these businesses seem to run faster than FStudio. In 2022, FPT Retail plans to renew the Fstudio chain and expand the Fstudio chain along with expanding the Apple business in Vietnam. FPTShop’s annual growth in the period 2022 – 2024 is expected to be in double digits.

For cooperation with Xiaomi, FPT Retail expects revenue from cooperation with Xiaomi to account for 7-10% of FPTShop’s revenue structure. FRT evaluates Xiaomi as the most complete ecosystem of products compared to other brands present in Vietnam.

For Long Chau chain, in 2022, FRT expects the Long Chau chain to have a profit of about VND 50-100 billion. However, the profit level will depend on the speed of Long Chau’s new opening and the level of long-term investment. FPT Retail is making efforts to achieve the above targets. Regarding the distribution of Covid-19 treatment drugs, Long Chau pioneered the distribution of Covid drugs for non-profit purposes for Covid drugs.

FPT Retail profit in the first quarter of 2022 increased 5 times over the same period

At the meeting, FPT Retail said that in the first quarter of 2022, the company’s revenue grew over 65% and profit increased 5 times over the same period. This business result comes from favorable factors due to the high demand of the epidemic season such as buying laptops and Apple.

FPT Retail expects the growth rate to stabilize again in the coming time. However, FPT Retail confidently completed the 2022 sales plan. By the end of the first quarter of 2022, FPT Retail had completed 28% of the year plan.

In addition, the General Meeting of Shareholders approved the policy of issuing ESOP shares with a maximum of 2% of the outstanding shares at the time of issuance. ESOP issuance rate is based on business results in 2022 when pre-tax profit growth is more than 20%. Issuing price 10,000 VND/share. The transfer restriction period is 3 years.


Q. Nguyen

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