Hoa Phat of Hai Phong billionaire Tran Dinh Long has the highest profit in 3 years in the second quarter.

In the last quarter, billionaire Tran Dinh Long's group produced 2.5 million tons of crude steel, up 10% over the same period last year.

According to the second quarter business results just announced by Hoa Phat Group, this enterprise recorded revenue of 36,000 billion VND, down 9.8% compared to the same period last year. However, their profit after tax was 4,300 billion VND, up 29.5%, the highest since the first quarter of 2022.

According to a representative of Hoa Phat, revenue in the second quarter decreased due to a decrease in steel product prices at some points in the quarter. However, the company's profit still increased thanks to good cost of goods sold and lower input material costs, especially coal ore.

In the last quarter, billionaire Tran Dinh Long’s group produced 2.5 million tons of crude steel, up 10% over the same period last year. Sales of hot-rolled coil (HRC), construction steel, high-quality steel and steel billets reached 2.6 million tons, up 18%.

In the first 6 months of the year, Hoa Phat brought in 74,000 billion VND in revenue and 7,600 billion VND in profit after tax, up 5% and 23% respectively compared to last year. The company sold 5 million tons of steel in the first half of the year, up 23%.

This year, Hoa Phat plans to achieve VND170,000 billion in revenue and VND15,000 billion in after-tax profit. With the results of the second quarter, this enterprise has completed 51% of the annual profit plan.

Hoa Phat is the largest steel producer in Vietnam and Southeast Asia. Operating in logistics, agriculture , real estate... but 90% of the group's revenue still comes from steel.

The company is currently constructing the Hoa Phat Dung Quat 2 iron and steel production complex on a scale of 280 hectares in Quang Ngai , with a total investment of VND85,000 billion and a designed capacity of 5.6 million tons of hot rolled coil (HRC) per year. Blast furnace No. 6, part of phase 2 of this project, is expected to be completed in September, bringing Hoa Phat's steel output to 16 million tons per year, of which 9 million tons are HRC steel.

Billionaire Tran Dinh Long's company has also just invested 10,000 billion VND in a high-speed rail steel factory, expected to start construction in mid-August and produce the first product in early 2027. The project's products are expected to be supplied to key national projects such as the North-South high-speed railway, Hai Phong - Hanoi - Lao Cai, and urban railways in Hanoi and Ho Chi Minh City.

KT (synthesis)

Source: https://baohaiphongplus.vn/hoa-phat-cua-ty-phu-nguoi-hai-phong-tran-dinh-long-lai-quy-ii-cao-nhat-3-nam-416509.html