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Vietnam’s leading steelmaker Hoa Phat Group recorded its highest ever after-tax profit of 34.5 trillion VND (1.5 billion USD) in 2021, 1.5 times higher than the previous year and surpass 92 percent of the whole year’s set target.
Its revenue surged 65 percent to 150.8 billion VND.
The group posted a 73 percent year-on-year increase in its revenue in the fourth quarter of last year to 45 trillion VND. Its after-tax profit also rose 59 percent to 7.4 trillion VND compared to the same period last year.
Despite negative impacts of the COVID-19 pandemic, Hoa Phat iron and steel complexes in Hai Duong, Quang Ngai and and Hung Yen provinces still operated at full capacity to serve domestic and foreign markets.
Last year, the group manufactured 8.8 million tonnes of construction steel, hot rolled coil steel (HRC), steel pipes and galvanised steel, up 35 percent against 2020. About 2.6 million tonnes of steel products were sold abroad, doubling year-on-year.
With its performance, Hoa Phat remains to hold the No. 1 market share in Vietnam for construction steel and steel pipes with 32.6 percent and 24.7 percent respectively. Hoa Phat is also the only Vietnamese enterprise that can produce HRC.
In addition to having the largest Australian cow herd in the country, the group is taking the lead in the northern market with an output of 800,000 eggs a day.
The group's real estate sector is focusing on expanding existing industrial parks, and at the same time researching and investing in a number of housing projects and service urban areas.
Operating in 25 provinces and cities across the country, Hoa Phat Group contributed 12.4 trillion VND to the State budget last year, 70 percent higher than the amount in 2020.
Hoa Phat is carrying out major projects including Hoa Phat Dung Quat 2 iron and steel complex and Dung Quat economic zone complex port and a container manufacturing factory in Ba Ria-Vung Tau province. Once completed, these projects will raise the scale and promote long-term growth for Hoa Phat Group./.
VNA
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- [Editor:kangmingfei]
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