Billionaire Tran Dinh Long wins big.

Hoa Phat Group (stock code: HPG) has just sent a letter to the State Securities Commission and the Ho Chi Minh City Stock Exchange (HoSE) reporting preliminary results on its business performance in the third quarter and the first nine months of the year.

In the third quarter, the company chaired by Mr. Tran Dinh Long recorded a net profit of VND 3,022 billion, a 51% increase compared to the same period last year.

For the first nine months of the year, the company's after-tax profit reached VND 9,210 billion, a 140% increase compared to the same period last year. The main contributors to this result were steel and related products (85%), followed by the agricultural sector.

The group's third-quarter revenue reached over 34,000 billion VND, an increase of 19%. For the first nine months of the year, revenue reached over 105,000 billion VND, equivalent to more than 4 billion USD, a 23% increase compared to the same period last year, achieving 75% of the annual plan. Hoa Phat Group reported contributing 10,000 billion VND to the state budget in the first nine months, exceeding the amount contributed for the entire year of 2023.

These results are due to improved sales revenue and profit margins in several business sectors such as steel and agriculture. Specifically, profits in the steel sector increased by 42%, and in the agriculture sector by 80% compared to the same period last year. The industrial park infrastructure leasing sector maintained a stable profit margin of 39%.

In the third quarter, the production of construction steel and high-quality steel reached nearly 1.1 million tons, a 14% decrease compared to the previous quarter. However, the domestic market share of construction steel remained the leading position at 38%. Hot-rolled steel coil production reached 738,000 tons, equivalent to the second quarter.

In the first nine months of the year, Hoa Phat produced 6.4 million tons of crude steel, a 34% increase compared to the same period last year. Sales of all types of steel (excluding steel pipes and galvanized sheets) reached 6.1 million tons, a 32% increase.

Of this total, construction steel and high-quality steel contributed 3.3 million tons, an increase of 29%. Hot-rolled coil (HRC) steel reached 2.27 million tons and steel billets reached 505,000 tons. For downstream steel products, steel pipes reached 503,000 tons, a 3% increase compared to the first nine months of 2023. Hoa Phat steel sheets achieved a production volume of 344,000 tons, a 43% increase compared to the same period, exceeding the figure achieved for the entire year of 2023.

Billionaire Tran Dinh Long's conglomerate is focusing its efforts on the construction of the Hoa Phat Dung Quat 2 integrated steel production complex, with a capacity of 5.6 million tons of hot-rolled steel coils per year. According to the current schedule, phase 1 is expected to have its first hot-rolled steel coil products tested by the end of the year.

On the stock market, HPG shares closed at 27,150 VND/unit on October 15th, up 0.37% from the previous session and nearly 7% since the beginning of the year. Average trading volume reached 24.5 million shares per session over the past month.

Source: https://dantri.com.vn/kinh-doanh/ty-phu-tran-dinh-long-thang-dam-20241016072900249.htm