Hoa Phat surpasses 2019 profit plan

30/01/2020 11:00

By the end of 2019, Hoa Phat Group reached nearly VND 65,000 billion in revenue and more than VND 7,500 billion in after-tax profit, exceeding 13% of the profit plan in 2019. Of which, steel products contributed the largest share to the above. 80% of the Group's revenue and profit after tax. Hoa Phat is trying to produce the first batch of hot rolled coils (HRC) in the second quarter of 2020.

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In the fourth quarter of 2019, the Group recorded VND 18,282 billion in revenue and VND 1,923 billion in after-tax profit, an increase of 9% over the same period last year. This result was mainly due to the production of construction steel and steel pipes reaching the highest record ever. Meanwhile, with strong growth, the agricultural sector contributes the second largest in the revenue and profit structure for Hoa Phat.

Accumulated throughout the year, Hoa Phat has produced over 2.8 million tons of crude steel and provided 2.77 million tons of high quality construction steel for the market, up to 16.7% over the same period, including more than 265,000 tons exported to markets such as Japan, Cambodia, Korea, Taiwan, Malaysia, Australia, USA ... market share reached 26.2%, further confirming the No. 1 position in market share in Vietnam.

In the field of steel pipe and corrugated iron, the Group achieved 750,800 tons of steel pipes, up to 14.8% over the same period in 2018, exporting 19,100 tons to North America, Southeast Asia, India, Australia. and Latin America .... increased 17% over the same period. The market share of Hoa Phat Steel Pipe has increased to 31.5%, confirming the No. 1 position in Vietnam. At the end of the year, the Company put into operation a large steel pipe line with a diameter of up to 325mm in Hung Yen, with a capacity of over 100,000 tons / year, becoming the only manufacturer in the North to supply this particular product lines.

For corrugated product lines, after nearly 2 years of official presence on the market, Hoa Phat Steel Sheet Company has built a distribution system throughout the country, reaching an annual sales volume of 5 times higher than in 2019 compared to 2018.

2019 is a quite successful year for the agricultural sector of Hoa Phat with strong growth of the livestock and animal feed segments. Revenue of this field reached 175% compared to 2018, in which the supply of Australian beef and clean chicken eggs of Hoa Phat was at the top of the market.

Products such as pre-stressed concrete steel, steel wire drawn, furniture, refrigeration also marked a certain mark, in which Hoa Phat Refrigeration exceeded the revenue of 1,100 billion dong, revenue from real estate in industrial parks increased by 56% over the previous year.

The main targets of Hoa Phat in 2020:

  • Consumption of 3.6 million tons of construction steel, of which the South increased 100% compared to 2019;
  • Producing hot rolled coil products in the second quarter;
  • Agricultural sector has grown significantly compared to 2019. 

Nghi Tran

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