Vietnamese Steel 'King' Rises in Top 100 Largest Companies in Southeast Asia

The rankings are ordered by revenue in fiscal year 2024. Seven countries that made it into last year's Southeast Asia 500 - Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines and Cambodia - are back in 2025, making their mark on the regional economy .

Hoa Phat is ranked 62nd in the top 100 largest enterprises in Southeast Asia (up 14 places compared to the announcement of Fortune 500 in 2024)

According to this year's rankings, Vietnam has 76 businesses on the Fortune 500 list, including sectors from finance, banking, real estate, energy, food, heavy industry, to aviation, retail... an increase of 6 businesses compared to last year.

In the top 100, Vietnam has 12 honored enterprises, including Hoa Phat Group. According to Fortune's calculation formula, Hoa Phat's revenue in 2024 will reach 5.54 billion USD, after-tax profit will be 479 million USD, total assets will reach 8.80 billion USD as of December 31, 2024. Impressive business results have helped the "king" of Vietnamese steel rise from 76th place in 2024 to 62nd place in 2025.

According to the company's financial report, in 2024, Hoa Phat achieved VND 140,560 billion in revenue, an increase of 17% over the same period last year; after-tax profit reached VND 12,020 billion, an increase of 77% and exceeding the annual plan by 20%.

The steel sector (including cast iron and steel products) continues to play a leading role and affirms itself as the core business of the group. Revenue and profit after tax of this sector account for 93% and 86% respectively.

The scale of Hoa Phat Group has grown larger since putting the Hoa Phat Dung Quat iron and steel production complex into operation.

In 2024, Hoa Phat paid more than 13,400 billion VND to the State budget, appearing in prestigious rankings, typically: 7 consecutive times being honored as National Brand; top 3 private enterprises with the largest budget contributions in the country; top 50 most effective businesses...

In the first quarter of 2025, Hoa Phat achieved more than VND 37,900 billion in revenue and VND 3,300 billion in profit after tax, up 22% and 16% respectively over the same period in 2024.

Hoa Phat Group is the largest steel producer in Vietnam and Southeast Asia. From the end of 2025, Hoa Phat's steel design capacity will reach 15 million tons/year, focusing mainly on hot-rolled steel and high-quality steel for the mechanical engineering industry. Hoa Phat holds the No. 1 market share in the domestic market and has exported many different types of steel to 40 countries and territories.

Source: https://thanhnien.vn/vua-thep-viet-thang-hang-trong-top-100-cong-ty-lon-nhat-dong-nam-a-185250618070509142.htm