Hoa Phat is in the top 100 largest companies in Southeast Asia.

Vietnam has 70 enterprises in the Top 500 largest enterprises in terms of revenue for the fiscal year 2023 in the ASEAN region. Hoa Phat Group ranked 76th in the list, leading the 5 steel enterprises from Vietnam.

Fortune - The magazine famous for its prestigious world rankings, for the first time announced the ranking of the 500 largest enterprises based on revenue criteria for the 2023 fiscal year, exclusively for the Southeast Asia region. Hoa Phat Group is one of the few Vietnamese enterprises in the Top 100 (position 76).

Accordingly, 500 companies in 7 countries (Indonesia, Thailand, Singapore, Malaysia, Vietnam, Philippines and Cambodia) and 57 sectors (including aviation, textiles, chemicals, etc.) were evaluated by Fortune based on 2023 revenue criteria. Fortune conducted this ranking for the first time to reflect the region's impressive growth story through the development and growth of large companies in many sectors.

According to Fortune's calculation formula, Hoa Phat's revenue in 2023 will reach 4.99 billion USD, after-tax profit will be 287 million USD, and total assets will reach 7.74 billion USD as of December 31, 2023. Photo: Hot rolled coil production line at Hoa Phat Dung Quat Iron and Steel Complex

According to the ranking, Vietnam has 70 businesses on the list, including sectors from finance, banking, real estate, energy, food, heavy industry, to aviation, retail... The minimum revenue threshold for a business to be on the list is more than 460 million USD.

The Top 500 list also includes Vietnamese steel enterprises including Hoa Sen Group, Vietnam Steel Corporation, Nam Kim, and Ton Dong A.

In 2023, Hoa Phat recorded VND 120,355 billion in revenue and VND 6,800 billion in profit. Of which, revenue and profit after tax of the steel segment (including cast iron and steel and steel products) accounted for 94% and 92% of the entire Group, respectively.

During the year, Hoa Phat Group also paid more than 9,000 billion VND to the State budget, was voted Top 1 largest private enterprise and ranked 8th in the Top 10 largest enterprises in Vietnam in 2023; Top 10 Strongest Brands in Vietnam; Top 50 Most Effective Business Companies in Vietnam; Top 30 Enterprises Paying the Largest Corporate Income Tax in Vietnam.

In the first quarter of 2024, Hoa Phat achieved 31,000 billion VND in revenue and 2,869 billion VND in profit after tax.

The growing importance of the regional economy due to the shift in global supply chains and the rapid growth of many large corporations and enterprises is the main motivation for Fortune to rank the largest companies in the region. The Fortune Southeast Asia 500 ranking has become an annual assessment activity alongside the prestigious Fortune 500, Fortune Global 500 and Fortune Europe 500 rankings.

Source: https://baodautu.vn/hoa-phat-lot-top-100-cong-ty-lon-nhat-khu-vuc-dong-nam-a-d218127.html