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.
Hanoi (VNA)ཧ – 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 timeshigher than the previous year and surpass 92 percent of the whole year’s settarget.
Its revenuesurged 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 lastyear to 45 trillion VND. Its after-tax profit also rose 59 percent to 7.4trillion VND compared to the same period last year.
Despite negative impacts of the COVID-19 pandemic, Hoa Phat iron and steel complexes in HaiDuong, Quang Ngai and and Hung Yen provinces still operated at full capacity toserve domestic and foreign markets.
Last year,the group manufactured 8.8 million tonnes of construction steel, hot rolled coilsteel (HRC), steel pipes and galvanised steel, up 35 percent against 2020.About 2.6 million tonnes of steel products were sold abroad, doublingyear-on-year.
With its performance, Hoa Phat remains to hold the No. 1 market share in Vietnam for construction steel andsteel pipes with 32.6 percent and 24.7 percent respectively. Hoa Phat is alsothe only Vietnamese enterprise that can produce HRC.
In additionto having the largest Australian cow herd in the country, the group is takingthe lead in the northern market with an output of 800,000 eggs a day.
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Operating in25 provinces and cities across the country, Hoa Phat Group contributed 12.4trillion VND to the State budget last year, 70 percent higher than the amount in 2020.
꧅ HoaPhat is carrying out major projects including Hoa Phat Dung Quat 2 iron andsteel complex and Dung Quat economic zone complex port and a containermanufacturing factory in Ba Ria-Vung Tau province. Once completed, theseprojects will raise the scale and promote long-term growth for Hoa PhatGroup./.
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Illustrative image. (Photo: VNA) 
