(NLDO) - In 2024, Hoa Phat's after-tax profit will reach 12,020 billion VND, an increase of 77% compared to 2023, exceeding the plan by 20%.
Hoa Phat Group Joint Stock Company (Hoa Phat Group - HPG) has just reported its business results for the fourth quarter of 2020 with revenue of VND 35,232 billion, up 1% over the same period in 2023 (VND 34,924 billion). Profit after tax was recorded at VND 2,809 billion, down 5% over the same period.
Accumulated for the whole year of 2024, Hoa Phat achieved 140,560 billion VND in revenue, an increase of 17% over the same period last year, achieving the 2024 plan. Profit after tax reached 12,020 billion VND, an increase of 77% compared to 2023 and exceeding 20% of the annual plan; paid to the State budget more than 13,400 billion VND, far exceeding the figure of 9,000 billion VND in 2023.
In 2024, Hoa Phat produced 8.7 million tons of crude steel, up 30% compared to 2023. Sales of HRC steel products, construction steel, high-quality steel and steel billets reached 8.1 million tons, up 20%. Of which, construction steel and high-quality steel reached 4.48 million tons, up 18% over the same period last year. HRC hot-rolled coil produced more than 3 million tons, up 5% compared to 2023.
Hoa Phat Steel
In the domestic market, Hoa Phat has consolidated its position as the number 1 market share in the country for long steel and steel pipes with 37.6% and 27.7% respectively and is in the Top 5 for galvanized steel market share with 8.2%. Products have been supplied to a series of large infrastructure projects such as airports, Metro lines in Hanoi, Ho Chi Minh City and many other key projects...
Hoa Phat steel export market has expanded to nearly 40 countries and territories worldwide. In 2024, export activities will contribute 31% of Hoa Phat's revenue.
Regarding downstream products, Hoa Phat supplied over 708,000 tons of steel pipes to the market, an increase of over 3% compared to 2023. Galvanized steel of all kinds reached over 446,000, an increase of 36% over the same period. Prestressed steel of all kinds reached 134,000 tons, an increase of 28% over the previous year.
Other business sectors also recorded positive signs. Hoa Phat Agriculture exceeded many targets, the most impressive of which was the egg output of 330 million eggs. Hoa Phat's egg distribution network is currently present in more than 100 supermarkets in the North and across three regions. The Australian cattle breeding sector has positive changes compared to 2023 when livestock output is higher than the previous year.
Hoa Phat currently owns more than 1,100 hectares of industrial land, and will focus on attracting FDI, planning to develop 3 more industrial parks in the near future, creating more clean land and technical infrastructure to serve the investment and production needs of domestic and foreign enterprises.
A representative of Hoa Phat Group said that the Hoa Phat Dung Quat 2 Iron and Steel Complex project is being implemented on schedule. Phase 1 will be put into operation in 2025. Phase 2 is expected to be completed in late 2025 and early 2026. The main products of the project are hot rolled coil steel, high-quality steel, special steel for the automotive, railway, shipbuilding, and structural processing industries.
Source: https://nld.com.vn/hoa-phat-lai-khung-12020-ti-dong-nam-2024-196250124144743729.htm
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