Hoa Phat Group achieved VND9,745 billion after-tax profit in Q2

In the second quarter of 2021, Hoa Phat Group reached a revenue of VND35,400 billion and after profit of VND9,745 billion. In the first half of the year, the group posted 67 per cent year-on-year increase in its revenue, reaching nearly VND66,900 billion.

Hoa Phat has implemented many effective solutions to ensure both pandemic prevention as well as stable production and business

Hoa Phat Group has implemented many effective solutions to ensure both pandemic prevention as well as stable production and business. In the first six months of the year, the group produced more than 4 million tonnes of crude steel, increasing 55 per cent from the same period last year. Its steel sales reached nearly 4.3 million tonnes, representing 60 per cent year-on-year increase. Its sale of construction steel reached 1.8 million tonnes, increasing 22 per cent from the corresponding period last year and maintaining the leading market share of 34.6 per cent in the country.

In the January-June period, the hot rolled coil and steel pipe output were 1.3 million tonnes and 375,000 tonnes respectively. Its galvanized steel output was 2.8 times higher than the same period last year to reach approximately 160,000 tonnes. Its market share of steel pipe was more than 30 per cent while galvanized steel maintains its firm position among Top 5 market share in Vietnam. 

In the first half of the year, the pandemic situation saw complicated changes, making the prices of input materials for steel production such as coke and iron ore increased. However, Hoa Phat Group still maintains production output to meet the domestic market demand. The selling price has always been lower than the price in the world market.

The agriculture and real estate sectors also maintained growth momentum. The Australian beef production continues to hold the No 1 market share. The total biosafety pig herd has been well developed, striving to reach about 450,000 commercial heads this year. Chicken egg output is currently leading in the North and has entered a series of large supermarkets nationwide with about 730,000 eggs a day.

In the real estate sector, Pho Noi A Industrial Park and Yen My II Industrial Park were respectively approved for expansion investment to attract investment. The group is currently researching and implementing a number of urban real estate projects with high liquidity in some provinces and cities.

Currently, Hoa Phat Group is the largest steel producer in Vietnam with a crude steel output of 8 million tonnes a year. In the coming time, Hoa Phat Group will continue to promote the implementation of the container shell production project according to the schedule, complete the legal procedures to implement the Hoa Phat Dung Quat 2 Steel Integrated Complex project from early 2022.

HPG News