(HSV VIETNAM GROUP) – Accumulated in the first 4 months of the year, Hoa Phat's sales volume of construction steel, HRC steel, and steel billet reached 2.65 million tons.
In April 2024, Hoa Phat Group (stock code: HPG) produced 738,000 tons of crude steel, a slight decrease compared to the previous month. Sales of steel billet products, construction steel, and hot rolled steel (HRC) reached 805,000 tons, up 16% compared to March 2024 and up 76% over the same period last year. This is also the company's highest sales output since March 2022.
Of which construction steel and high quality steel alone reached 471,000 tons, an increase of 24% compared to the previous month. Construction steel sales output increased significantly compared to the month after Tet thanks to the increasing demand for civil construction and public investment projects.
Meanwhile, inventory at agents and distributors fell low in April, prompting Hoa Phat steel distribution units to import more goods to serve the market. This has helped Hoa Phat construction steel consumption increase in all three regions, the strongest increase recorded in the North with 73%, the Central region with 37%.
HRC hot rolled steel reached 252,000 tons, down 4% compared to last March. In addition, the Group provided many HRC downstream products, including 70,000 tons of steel pipes, 48,000 tons of galvanized steel sheets of all kinds to the market in April.
Accumulated in the first 4 months of the year, sales output of construction steel, HRC steel, and steel billet reached 2.65 million tons. Of which, Hoa Phat exported 952,000 tons of steel, including construction steel, high quality steel, HRC steel and steel billet. Exporting supports product consumption at a time when the domestic market has not really prospered, while also diversifying sales channels.
From the beginning of the year to the end of April, Hoa Phat Steel Pipe recorded an output of 201,000 tons, down 4% compared to the same period in 2023. Galvanized steel pipes of all kinds reached 146,000 tons.
The Group is focusing its efforts on building the Hoa Phat Dung Quat 2 Iron and Steel Production Complex project, with a scale of 5.6 million tons of hot rolled steel per year. It is expected that when completed, Hoa Phat's crude steel production capacity will reach over 14 million tons/year, equivalent to the Top 30 largest steel enterprises in the world.
In the first quarter of 2024, Hoa Phat's profit after tax was 2,869 billion VND, 7.5 times higher than the same period in 2023 but still slightly lower than the previous quarter. This result ended the chain of 4 consecutive quarters of growth compared to the previous quarter of the steel industry's leading enterprise.
Ha Diem HSV