The company posted a post-tax profit of VND 4.3 trillion (approximately USD 164.4 million), representing an increase of around 30% compared to both the same period in 2024 and the first quarter of 2025.
The company, traded on the Ho Chi Minh Stock Exchange (HoSE) under the ticker symbol HPG, recorded revenues of over VND 36 trillion (USD 1.38 billion) in the second quarter. This figure represents a 9% decrease compared to the same period last year and a 4% decline from the previous quarter.
Strong First-Half Performance: Profit Increased By 23%
In the first half of 2025, Hoa Phat recorded total revenue of VND 74 trillion (USD 2.83 billion) and a post-tax profit of VND 7.6 trillion (USD 290.55 million). These figures represent year-on-year increases of 5% and 23%, respectively.
The company has set targets of VND 170 trillion (USD 6.5 billion) in revenue and VND 15 trillion (USD 573.45 million) in profit for the full year 2025. As of the first half of the year, it has achieved 44% of its revenue target and 51% of its profit target.
Steel Production on the Rise
The steel segment accounted for approximately 90% of the group’s consolidated revenue. In the second quarter, Hoa Phat produced 2.5 million tons of crude steel, marking a 10% y/y increase. During the same period, sales of hot-rolled coil (HRC), construction steel, high-quality steel, and billets reached 2.6 million tons—an increase of 9% q/q and 18% y/y.
In the first half of the year, the company produced a total of 5.1 million tons of crude steel and sold 5 million tons. These figures represent increases of 17% and 23%, respectively, compared to the same period in 2024. Notably, HRC sales alone increased by an impressive 42%.
New Blast Furnace on the Way
Company officials announced that Blast Furnace No. 6, part of the second phase of the Hoa Phat Dung Quat 2 Integrated Steel Complex under construction in Quang Ngai Province, is scheduled for completion in September 2025. Once operational, it will raise Hoa Phat’s annual steel production capacity to 16 million tons. Of this, 9 million tons will be hot-rolled coil (HRC), which will be sufficient to meet Vietnam’s domestic demand.
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