Hoa Phat's agricultural sector sees 80% profit growth in Q3

In Q3/2024, Hoa Phat's agricultural sector achieved a 21% increase in revenue compared to the same period last year, with profit surging by an impressive 80% over Q3/2023. Stable pork prices and higher sales volumes were key drivers behind the strong recovery and growth in Hoa Phat’s agriculture sector.

After nearly a decade of investment in high-tech agriculture, Hoa Phat has allocated VND3.1 trillion to the sector (as of September 2024), yielding significant positive results. The group’s methodical, long-term investment strategy has enabled it to build a fully integrated value chain, covering animal feed production, pig, cattle, and poultry farming. This approach is a strategic move to strengthen Hoa Phat's position as a leader in Vietnam's agricultural industry, complementing its core steel production and trading businesses.

Hoa Phat's animal feed production grew by 4%, positioning the group among the top 15 largest animal feed suppliers in Vietnam. The company operates two feed factories in Hung Yen and Dong Nai provinces with a combined annual capacity of 600,000 tons, which not only meets the needs of Hoa Phat’s internal farms but also serves external partners. This strategic capability enhances the Group’s competitiveness in the domestic feed market and helps stabilize supply.

Hoa Phat owns nearly 25,000 sows, ranking among the top livestock enterprises in Vietnam

In pig livestock, Hoa Phat’s sales reached 443,000 pigs in the first nine months of 2024, a 34% increase compared to the same period last year. The company now owns nearly 25,000 sows, ranking among Vietnam's top livestock enterprises. The integrated farm network ensures Hoa Phat can maintain control over product quality and provide a stable supply within the domestic pork market.

In poultry farming, Hoa Phat's egg output reached 243 million eggs in the first nine months of 2024, reflecting a 5% increase from the previous year. The Group holds the No. 1 position in Northern Vietnam in terms of egg production, with a daily capacity of up to 900,000 eggs. Additionally, Hoa Phat successfully launched the Sonia one-day-old chick, with sales four times higher than the same period in 2023.

In poultry farming, Hoa Phat's egg output reached 243 million eggs in the first 9 months of the year, up 5% over the same period in 2023

Hoa Phat’s Australian beef farming operations also saw positive growth, despite the highly competitive market. Beef sales grew by 10% compared to the same period last year, ensuring a steady supply of high-quality beef that meets international standards and satisfies domestic consumption needs.

Hoa Phat continues to invest in modern farm management technologies, incorporating biosafety models, automated monitoring systems, and livestock health monitoring equipment. These advancements help optimize production costs, minimize risks, and further solidify Hoa Phat's leadership in the high-tech agricultural sector.

                                                                                                          HPG News