Hoa Phat posted VND8.6 trillion after-tax profit in 2018

Hoa Phat Group posted positive business results in 2018 with many records. The company’s total consolidated revenue hit VNĐ56.5 trillion (US$2.4 billion), up 21 per cent from 2017. Notably, its after-tax profit rose to an all time high of VNĐ8.6 trillion, surpassing its target by 7 per cent.
In the fourth quarter, the corporation earned VND14.5 trillion in revenue and VND1.76 trillion in after-tax profit.

Steels including construction steel, steel pipe and plated metal sheets played a key role as their sales made up 85 per cent of its revenue and after-tax profit. Hoa Phat sold a record 3.16 million tonnes of steel, up 5.3 per cent from 2017, including 2.37 million tonnes of construction steel and 654,000 tonnes of steel pipe.

Construction steel accounted for 23.8 per cent of the market share and steel pipes accounted for 27.5 per cent.

In addition, Hoa Phat’s steel products are now available in 14 countries with a total export volume of nearly 240,000 tonnes in 2018, up 50.97 per cent annually.

Exports of steel pipes recorded a surge of nearly 70 per cent annually.

Hoa Phat sold a record 3.16 million tonnes of steels

With the high growth in comparison with the previous year in terms of both domestic consumption and exports, Hoa Phat continued to maintaining its leading position in the steel sector in Vietnam. Its key steel products of construction steel and steel pipe took the first position with market shares of 23.8 per cent and 27.5 per cent respectively. Hoa Phat’s galvanised product officially entered the market and received high appreciation from consumers.

Sales of interior decor, refrigeration appliances and construction equipment all maintained stable growth. Wire rod steel is gradually becoming a major contributor to Hoa Phat Equipment and Accessories Company, a member company on construction and mining machines.

In real estate, Hoa Phat has handed over a majority of the apartments in the Mandarin Garden 2 and 70 Nguyen Duc Canh projects since the end of last year, and actively started a project in Pho Noi urban area in the northern province of Hưng Yên. Its infrastructre leasing at industrial zones also saw positive signs.

The corporation has also made achievements in clean and high-tech agriculture. Its agriculture revenue expanded by over 40 per cent from 2017.

Hoa Phat contributed more than VNĐ6.3 trillion to the State budget, up 32 per cent from 2017.

HPG