Hoa Phat Group achieved record high profit of VND34.5 trillion in 2021

In the fourth quarter of 2021, Hoa Phat Group achieved VND45 trillion in revenue, up 73 per cent over the same period last year. Its after-tax profit was VND7.4 trillion, posting 59 per cent year-on-year increase. In 2021, Hoa Phat Group recorded a revenue of VND150.8 trillion, an increase of 65 per cent compared to 2020. The group’s after-tax profit for the first time reached VND34.5 trillion, exceeding 92 per cent of the whole year’s set plan and increasing 1.56 times against the previous year.

Hoa Phat Group achieved record high profit of VND34.5 trillion in 2021

Despite of facing many difficulties caused by the COVID-19 pandemic, Hoa Phat iron and steel production complexes in Hai Duong, Dung Quat - Quang Ngai and Hung Yen have still been operating at full capacity to serve domestic and foreign markets. Last year, the group supplied to the market a total of 8.8 million tons of steels including steel billet, construction steel, hot rolled coil (HRC), steel pipe and galvanized sheet, up 35 per cent over the previous year.

Export activities have made an important contribution to the output in 2021 with 2.6 million tons of products of all kinds, double that of 2020. The export promotion helps Hoa Phat Group diversify its consumption markets while the domestic market was affected by the COVID-19 pandemic. At the same time, it contributes to foreign currency collection and Vietnam's trade balance.

With its performance, Hoa Phat remains to hold the No. 1 market share in Vietnam for construction steel and steel pipes with 32.6 percent and 24.7 percent respectively. Hoa Phat is also the only Vietnamese enterprise that can produce HRC.

In addition to having the largest Australian cow herd in the country, the group is taking the lead in the northern market with an output of 800,000 eggs a day.

The group's real estate sector is focusing on expanding existing industrial parks, and at the same time researching and investing in a number of housing projects and service urban areas.

Operating in 25 provinces and cities across the country, Hoa Phat Group contributed VND12.4 trillion to the State budget last year, 70 per cent higher than the amount in 2020.

Hoa Phat is carrying out major projects including Hoa Phat Dung Quat 2 Steel Integrated Complex, Hoa Phat general port in the Dung Quat economic zone, a container manufacturing factory in Ba Ria-Vung Tau province and the home appliances producing plant in Ha Nam province. Once completed, these projects will raise the scale and promote long-term growth for Hoa Phat Group.

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