Hoa Phat Group Joint Stock Company (code HPG) of billionaire Tran Dinh Long has just announced a report showing that revenue in the third quarter of 2024 reached more than 34 trillion VND, 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 trillion VND in revenue (more than 4 billion USD), up 23% over the same period last year, completing 75% of the 2024 plan.

Hoa Phat said that in the third quarter, the domestic and foreign steel markets generally faced many difficulties, with prices tending to decrease. The group's sales of construction steel products, hot-rolled steel coils and steel billets reached over 2 million tons, down 7% compared to the second quarter of this year.

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.

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Hoa Phat achieved 'huge' revenue in the first 9 months of 2024. Photo: Hoang Ha

In the first 9 months of 2024, Hoa Phat produced 6.4 million tons of crude steel, up 34% over the same period in 2023. Sales 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 pipe output reached 503,000 tons, up 3% over the same period in 2023; corrugated iron reached 344,000 tons, up 43% over the same period, exceeding the figure in 2023 (329,000 tons). Hoa Phat also supplied the market with 93,000 tons of various types of prestressed steel.

In the container segment, the group continuously receives many orders from prestigious partners such as Hapag-Lloyd, SeaCube, Hai An...

In the livestock sector, Hoa Phat maintains its position and market share in the leading group of clean chicken eggs and commercial pigs supplied to the market. In particular, Hoa Phat clean chicken eggs are in the top 3 largest producers in Vietnam and leading in the North.

Currently, the Group is still 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. This project has completed 80% of the progress of phase 1 and 50% of phase 2. According to the current progress, phase 1 is expected to have the first hot test product of the rolling furnace by the end of 2024.

On the stock market, at the end of the trading session on October 10, HPG shares reached 27,250 VND/share.