By the end of the third quarter of 2024, Hoa Phat will achieve 92% of its annual profit plan.

In the third quarter of 2024, Hoa Phat Group recorded VND 3,022 billion in profit after tax, an increase of 51% over the same period last year (VND 2,000 billion). In the first 9 months, Hoa Phat recorded VND 9,210 billion in profit after tax, an increase of 140% over the same period last year.

The main contributor to this result was steel and related products with 85%, followed by the agricultural sector.

In terms of revenue, Hoa Phat Group reached more than 34,000 billion VND in the third quarter, an increase of 19% over the same period last year (28,766 billion VND).

In the first 9 months, Hoa Phat recorded more than 105,000 billion VND in revenue, equivalent to more than 4 billion USD, an increase of 23% over the same period last year (85,431 billion VND), completing 75% of the 2024 plan.

The Group also paid the State budget 10,000 billion VND in the first 9 months of 2024, exceeding the amount paid for the whole year of 2023.

Exporting hot rolled steel coils at Hoa Phat Dung Quat specialized port

Increased sales revenue and improved profit margins in some business areas such as steel and agriculture have helped the Group's profits grow.

Specifically, the steel group's profit increased by 42%, the agricultural group's increased by 80% compared to the same period last year. The industrial park infrastructure leasing sector maintained a stable profit margin at 39%.

Construction steel and high-quality steel output in the third quarter reached nearly 1.1 million tons, down 14% from the previous quarter (1.27 million tons). Domestic construction steel market share remained the leading position at 38%. Hot-rolled steel coil reached 738,000 tons, equivalent to the second quarter.

Accumulated in the first 9 months of 2024, Hoa Phat Group produced 6.4 million tons of crude steel, an increase of 34% over the same period in 2023.

Sales output of all types of steel (excluding steel pipes and galvanized steel) reached 6.1 million tons, up 32%.

Of which, construction steel and high-quality steel contributed 3.3 million tons, up 29%. Hot-rolled coil (HRC) reached 2.27 million tons and steel billets reached 505,000 tons.

For downstream steel products, steel pipes reached 503,000 tons, up 3% over the same period in 2023. Hoa Phat Steel achieved an output of 344,000 tons, up 43% over the same period, exceeding the output for the whole year of 2023 (329,000 tons).

Hoa Phat also continues to maintain its position and market share in the leading group of clean chicken eggs and commercial pork supplied to the market. Hoa Phat household appliances launch a series of new products.

The Group also continues to invest in expanding existing industrial parks in Hung Yen and Ha Nam, creating more clean land and technical infrastructure to serve the investment and production needs of domestic and foreign enterprises.

Currently, Hoa Phat is focusing on implementing the construction of the Hoa Phat Dung Quat 2 Iron and Steel Complex Project, with a scale of 5.6 million tons of hot-rolled steel coil/year. According to the current progress, phase 1 is expected to have the first hot-run test product at the end of 2024.

Source: https://baodautu.vn/het-quy-iii2024-hoa-phat-dat-92-ke-hoach-loi-nhuan-nam-d227456.html