Hoa Phat Group to supply 2 million tonnes of high quality construction steel annually from July 2018

In the first half of 2017, Hoa Phat Group reached the revenue of more than VND21 trillion and after-tax profit of VND3.4 trillion. These figures represent 36 per cent and 14 per cent increases over the same period last year in terms of revenue and after-tax profit respectively.

In the second quarter of 2017 alone, the group's total revenue was VND10.7 trillion and after-tax profit of VND1.5 trillion. Construction steel and steel pipe continued to be the main contributors to the impressive performance of Hoa Phat in the first 6 months of the year.

Hoa Phat Group provided more than 1 million tonnes of construction steel to the market, up 33 per cent over the same period last year, meeting with over 50 per cent of the whole year's set targets. This breakthrough helped the market share of Hoa Phat Steel to grow from 22.2 per cent at the end of 2016 to over 24 per cent at the end of June 2017. Since the beginning of this year, Hoa Phat Steel has exported about 90,000 tonnes of construction steel, wire rod steel to the markets of the US, Australia, Malaysia, Singapore, Cambodia, Laos and the Philippines.

Hoa Phat’s steel trading continued to have positive results

The sales of its steel pipe in the 6 month period reached 273,000 tonnes, bringing its market share to 26.57 per cent. The company is step by step improving production capacity in all factories in the country with a capacity of 400,000 tonnes per year. Hoa Phat is now commencing the installation of line equipment as scheduled, which is expected to be completed by the end of 2017 and starting to have products in the first quarter of 2018.

Other industries such as furniture, refrigeration, spare parts and accessories continue to maintain steady growth with continuously researches and development of new products. Hoa Phat planned to complete roofs of Mandarin Garden 2 project in Hanoi at the end of July, striving to begin handing over apartments to customers from the end of this year. In addition, Hoa Phat has also achieved certain results in the agricultural sector such as animal feeds, pigs and hi-tech Australian beef. In the first six months of 2017, Hoa Phat Group earned about VND1 trillion in revenue from the businesses.

Mandarin Garden 2 project prepares for completing its roof

Up to now, Hoa Phat Dung Quat Steel JSC has completed negotiation contract with the leading metallurgical equipment suppliers for its Hoa Phat Dung Quat Integrated Steel Complex ... With the strategy to promote the central and southern markets, Hoa Phat is speeding up the implementation of the complex with capacity of 4 million tonnes per year in central Quang Ngai Province. It will prioritize the rolled steel plant into operation beforehand.

Italian Danieli ensures that the first rolling steel mill of the project will be completed and commissioned in June 2018 and the second line is expected to be completed 6 months later. After completion of the rolling line, Hoa Phat will supply 2 million tonnes of high quality construction steel annually to the mark.

Hoai Thu - Nghi Tran