Hoa Phat ranked among the Top 10 strong brands - excellent business 2024

On October 16, Vietnam Economic Magazine (VnEconomy) held a ceremony to announce and honor the "Strong Vietnamese Brands 2024." Hoa Phat Group was proud to be recognized in the Top 10 Strong Brands - Excellent Business 2024, marking the 13th consecutive year the company has received this prestigious distinction.

During the event, a representative from Hoa Phat Group was presented with the award for Strong Brands - Excellent Business 2024.

The "Strong Vietnamese Brands" program recognizes companies that have achieved outstanding success in production, business, trade, and services, while contributing to green growth and sustainable development. Evaluation criteria include strategic vision, business performance, and progress in areas such as digital transformation, green initiatives, energy-efficient production, clean energy use, brand protection, employee welfare, and social responsibility.

In the first nine months of 2024, Hoa Phat reported a revenue of over VND105 trillion (approximately US$4 billion), a 23% increase from the same period last year (VND85.4 trillion), and completing 75% of its 2024 revenue target. The group's after-tax profit reached VND9.2 trillion, marking a 140% year-on-year increase. Hoa Phat also contributed VND10 trillion to the State budget in the first nine months of 2024, surpassing the total contribution for the entire year of 2023.

Since 2021, Hoa Phat Group has been implementing a comprehensive and intelligent digital transformation roadmap, aimed at creating new value throughout its supply chain and increasing EBITDA.

The group's iron and steel production complexes are equipped with modern, integrated technologies that enable the full recovery of excess heat and gases from coke smelting, blast furnace operations, and steel production. This not only powers generators but also reduces greenhouse gas emissions. Hoa Phat Group now generates billions of kWh of electricity annually, achieving nearly 90% energy self-sufficiency for steel production, which helps lower energy costs and reduce product prices.

Hoa Phat holds the No. 1 market share in Vietnam for construction steel and steel pipes and ranks in the Top 5 for corrugated steel production. The group is also a leader in the clean egg and commercial pork sectors, particularly in the North, where Hoa Phat's clean chicken eggs rank among the Top 3 largest producers in Vietnam.

With operations spanning five key sectors - Iron and Steel, Steel Products, Agriculture, Real Estate, and Household Appliances - Hoa Phat has built a diversified ecosystem of high-quality products. The group's sustained growth and effectiveness have contributed to a significant increase in its contributions to the State budget. Hoa Phat is frequently recognized in prestigious rankings, including as Vietnam's largest private enterprise, Top 50 most effective listed companies, Top 3 private companies with the highest budget contributions, and Fortune’s Top 100 largest companies in Southeast Asia.

In the past nine months, Hoa Phat has also continued its commitment to community welfare through numerous charity and social programs. Notable initiatives include supporting the construction of 1,500 homes for families in need, donating over 300 water purifiers to schools and medical facilities across Vietnam, sponsoring the building of new schools, and supporting orphans and children with congenital heart disease.

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