Hoa Phat has achieved more than 80% of 2019 profit target

22/10/2019 10:00

In the third quarter of 2019, Hoa Phat Group reached VND 15,350 billion in revenue and VND 1,794 billion in after-tax profit. In 9 months, HPG has completed 66% of revenue plan and 84% of after - tax profit in 2019 with VND 5,655 billion.

In the 9 months cumulative, Hoa Phat steel produced nearly 2 million tons, increased 16,1% compared to the same period last year. The market share of Hoa Phat Steel is firmly at the No. 1 position in Vietnam with 25%. Sales volume in the South increased dramatically, nearly doubled in the same period last year to 280.000 tons. Next is the Central region with nearly 300.000 tons, increased 53% compared to 9 months of 2018.

For export segment, Hoa Phat's high quality steel coils are well received in the world market, especially Japan, Cambodia and some other countries. Total export since the beginning of the year has reached 191.600 tons, increased over 32%, accounting for nearly 10% of total sales.

Hoa Phat steel pipe products recently achieved an output of 550.100 tons, increased 14,5% over the same period, maintaining the No. 1 market share with 30,66%. In addition, the company continues to promote product exports to many countries with an output of 14.100 tons, an increase of nearly 10%. In the fourth quarter of 2019, Hoa Phat Steel Pipe will launch a breakthrough product of large steel pipe, confirming its position as a leading manufacturer in Vietnam.

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Besides, the Group is gradually dominating the domestic market with galvanized steel products, pre-stressed concrete steel, drawn steel wire, and constantly seeking export markets. Up to now, many countries' markets such as USA, Canada, EU region, Australia, Malaysia, India, Korea, and ASEAN have all received these products positively. Hoa Phat Furniture actively launched many quality product lines, aiming to celebrate the 25th anniversary of traveling with the Vietnamese people.

Another highlight in the third quarter was agriculture, in which the supply of Australian cows, clean chicken eggs, and biosafety pigs reached the top of the country and contributed the second largest revenue to Hoa Phat with 12%.

In the coming time, the Group continues to put efforts to complete Dung Quat project as the planned timetable, striving to test furnace No. 2 in November. It is expected that by the end of the first quarter of 2020, Hoa Phat will have hot rolled flat steel products (HRC) supplied to the market. This is also the time when the North of Pho Noi - Hung Yen urban area invested by Hoa Phat is planned to be opened for sale.

Nghi Tran

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