In the fourth quarter of 2022, Hoa Phat Group achieved revenue of VND 26 trillion, a decrease of 42% compared to the same period last year. The Group achieved a negative profit after tax of nearly VND2 trillion, continuing to decrease in comparison to the third quarter of this year. Accumulating of 2022, Hoa Phat recorded revenue of VND 142 trillion, a decline of 5% relative to 2021. During the entire year, profit after tax reached more than VND 8,400 billion, a decrease of 24% over the previous year.

Hoa Phat Group celebrated its 30th year of development in 2022. Hoa Phat supplied the market with 7.2 million tons of steel, down 7% compared to 2021, including billet, construction steel, and hot rolled coil (HRC).

The main contributors to sales volume are construction steel and HRC. Construction steel output reached 4.2 million tons, up 10% over the same period and contributing 59% to total steel production of all kinds. Exports contributed nearly 1.2 million tons. With nearly 35% market share, the domestic market continued to be consolidated in the lead position.

Hoa Phat's export market has expanded across 5 continents. Exploitation of these export markets helps Hoa Phat diversify its consumption markets. As a result, Hoa Phat contributes to foreign currency collection and helps Vietnam maintain a healthy trade balance. HRC products reached more than 2.6 million tons, a slight increase over the same period.

The steel pipe products manufactured by Hoa Phat also witnessed a significant increase in output in 2022 by about 11% in comparison to 2021. Hoa Phat steel pipe has the largest market share in the country with 28.5%. Currently Hoa Phat Steel Sheet Co., Ltd.td is in the Top 5 enterprises.

In addition to the traditional steel product lines, Hoa Phat Group promotes research and development of high-quality steel lines, especially difficult technical steel lines such as steel grades for bead wire manufacturing, screws, and debar in coil…. The container factory project is in the process of being completed and is expected to officially launch in the first quarter of 2023.

There are notable achievements in other segments, such as home appliances, agriculture, and real estate. A home appliance factory in Ha Nam has been officially inaugurated by Hoa Phat, which launched products such as air coolers and water purifiers. In the agricultural segment, the Group is a leader in the supply of clean chicken eggs in Northern Vietnam. Hoa Phat's industrial zone real estate continues to attract investors to lease land and expand factories.

According to Vietnam Report's ranking of the largest 500 companies based primarily on financial revenue in 2021, Hoa Phat Group Ranks No. 1 in the Top 10 enterprises for the first time. Among the Top 50 most effective business enterprises in Vietnam, Hoa Phat continued to be honored as a National Brand in the past year.

The Group evaluates that the steel industry has suffered during the most difficult period and is on the way to recovery. Hoa Phat has been closely monitoring market developments to adjust production and business activities flexibly, ensuring jobs for employees.

Moreover, the Group continues to invest in Hoa Phat Dung Quat Steel Integrated Complex 2, develop new products in the home appliances industry, etc. At the same time, Hoa Phat continues to invest in infrastructure to digitize, move towards digital transformation, apply the latest solutions and applications in production and business administration.

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Hoa Phat Group JSC published this content on 19 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 January 2023 04:13:08 UTC.