'Steel King' makes huge profits, plans to open 3 more industrial parks to attract foreign capital

The 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.

Latest information from Hoa Phat , in the fourth quarter of 2024, Hoa Phat Group achieved 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 fourth quarter of 2023 (VND 2,969 billion). Accumulated for the whole year of 2024, Hoa Phat achieved VND 140,560 billion in revenue, up 17% over the same period last year, achieving the 2024 plan.

Notably, the group's after-tax profit this year reached VND12,020 billion, up 77% compared to 2023 and exceeding the yearly plan by 20%.

A representative of Hoa Phat said that in 2024, the Group produced 8.7 million tons of crude steel, an increase of 30% compared to 2023. Sales of HRC steel products, construction steel, high-quality steel and steel billets reached 8.1 million tons, an increase of 20%. Of which, construction steel and high-quality steel reached 4.48 million tons, an increase of 18% over the same period last year. HRC hot-rolled coil produced more than 3 million tons, an increase of 5%.

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 with 8.2%. The 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. The Group has produced and supplied hundreds of thousands of tons of steel with high technical content and complexity such as steel coils for car tires, screws, welding rod cores, elevator cables, cold-formed high-alloy steel, steel for cranes, high-strength prestressed steel, etc.

Hoa Phat steel export market has expanded to nearly 40 countries and territories worldwide . In 2024, export activities will contribute 31% of the group's total 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 tons, 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 has many targets exceeding the plan, the most impressive of which is the chicken egg output reaching 330 million eggs. Hoa Phat chicken egg distribution network is currently present in more than 100 supermarkets in the Northern region and across three regions. In the field of pig farming, the output of finished pigs exceeded the plan. The Australian cattle farming 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. The household electrical appliances sector has initially recorded revenue growth thanks to the development of a series of new products.

In addition, 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 steel coils, high-quality steel, special steel serving the automotive, railway, shipbuilding, structural processing industries, etc.

Hoa Phat Group is operating and contributing to the state budget in 26 provinces and cities across the country. In 2024, Hoa Phat Group paid 13,400 billion VND to the budget, far exceeding the figure of 9,000 billion VND in 2023. This enterprise also spent hundreds of billions of VND on social security activities. In particular, the Group supported the construction of 1,500 houses for the poor and households in difficult circumstances across the country under the Government's program to eliminate temporary and dilapidated houses; supported the reconstruction of Lang Nu, Nam Tong, built houses for people in A Lu commune, Lao Cai...

Source: https://thanhnien.vn/vua-thep-lai-khung-du-tinh-mo-them-3-khu-cong-nghiep-thu-hut-von-ngoai-185250125081844071.htm