Hoa Sen Group Joint Stock Company (HOSE: HSG) has just announced its consolidated financial report for the second quarter of the 2024-2025 fiscal year (FY) (from January 1, 2025 to March 31, 2025). Accordingly, in the second quarter of the 2024-2025 fiscal year, HSG's consolidated output reached 432,919 tons, HSG's consolidated revenue reached VND 8,452 billion, and HSG's consolidated profit after tax reached VND 205 billion.
With the strategy of optimizing operations, developing the domestic market and expanding the international market, the positive business results in the second quarter of the fiscal year 2024 - 2025 further affirm HSG's correct orientations towards the goal of improving business efficiency, ensuring sustainable growth in the context of the socio-economic situation in general and the steel market in particular facing many challenges.
Accumulated in the first 6 months of the 2024-2025 fiscal year (from October 1, 2024 to March 31, 2025), HSG's consolidated output reached 946,648 tons, completing 49% of the plan; HSG's consolidated revenue reached VND 18,674 billion, completing 53% of the plan; HSG's consolidated profit after tax reached VND 371 billion, completing 74% of the profit plan set out in the high option. On average, Hoa Sen achieved a profit of more than VND 2 billion per day, affirming outstanding business efficiency in the first half of the fiscal year.
| STT | Target | Unit | Quarter 1 of FY 2024-2025 | Quarter 2 of FY 2024-2025 | Accumulated 6 months of fiscal year 2024-2025 | NDTC Plan 2024-2025 (high PA) | Plan completion rate |
| A | B | C | D | E | F | G | H=F/G |
| 1 | Output | Ton | 513,729 | 432,919 | 946,648 | 1,950,000 | 49% |
| 2 | Net revenue | Billion VND | 10,222 | 8,452 | 18,674 | 38,000 | 53% |
| 3 | Profit after tax | Billion VND | 166 | 205 | 371 | 500 | 74% |
Summary table of HSG's consolidated business results for the first 6 months of fiscal year 2024 - 2025
Compared with the first quarter of the 2024-2025 fiscal year, Hoa Sen Group recorded positive changes in the second quarter of the 2024-2025 fiscal year, demonstrating a strong improvement in operating efficiency compared to the first quarter, specifically:
- Gross profit margin increased from 11.8% (Q1) to 12.7% (Q2), reflecting the ability to optimize production costs and enhance product value.
- Financial expenses decreased by 8% (equivalent to VND 4 billion) thanks to the reduction of short-term debt balance from VND 5,364 billion to VND 532 billion, demonstrating a prudent and effective financial management strategy.
- Selling expenses decreased by 13% (equivalent to VND 111 billion), from VND 849 billion to VND 738 billion, contributing to increased profits.
- Financial revenue skyrocketed 178%, from VND43 billion to VND120 billion, mainly thanks to exchange rate differences from export activities.
- As a result, in the second quarter, after-tax profit reached VND205 billion, up 24% compared to the first quarter.
Regarding export activities, in the business context of the past 6 months, the Vietnamese steel industry has been affected by the initiation of trade defense investigations by countries, most notably the anti-dumping investigation initiated by the US Department of Commerce (DOC) in September 2024 on galvanized, cold-galvanized and color-coated steel products exported from Vietnam. Due to customers' cautious sentiment, HSG's export activities to the US have been temporarily interrupted since September 2024. However, HSG continues to take advantage of its core competitive advantages, continues to seek and expand new markets with great potential and development, and diversify its export products to more than 90 other countries and territories. Positive business results in the first 6 months of the 2024-2025 fiscal year demonstrate HSG's flexibility and outstanding adaptability to unpredictable market fluctuations.
Source: https://hoasengroup.vn/vi/bai-viet/hsg-loi-nhuan-sau-thue-hop-nhat-06-thang-ndtc-2024-2025-dat-371-ty-dong-hoan-thanh-74-ke-hoach/
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