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Hòa Phát’s steel exports surge in 2018

Update: January, 30/2019 - 14:30
Sales of construction steel, steel pipes and plated metal sheets made up 85 per cent of the revenue and post-tax profit of Hòa Phát Group in 2018. — VNA/VNS Photo Huy Hùng
Viet Nam News

HÀ NỘI — Hòa Phát Corporation announced on January 29 that its steel products are now available in 14 countries with a total export volume of nearly 240,000 tonnes in 2018, up 50.97 per cent annually.

Exports of steel pipes recorded a surge of nearly 70 per cent annually.

The company’s total revenue hit VNĐ56.5 trillion (US$2.4 billion), up 21 per cent from 2017. Notably, its post-tax profit rose to an all time high of VNĐ8.6 trillion, surpassing its target by 7 per cent.

In the fourth quarter, the corporation earned VNĐ14.5 trillion in revenue and VNĐ1.76 trillion in post-tax profit.

Sales of construction steel, steel pipes and plated metal sheets made up 85 per cent of its revenue and post-tax profit. Hòa Phát sold a record 3.16 million tonnes of steel, up 5.3 per cent from 2017, including 2.37 million tonnes of construction steel and 654,000 tonnes of steel pipe.

Construction steel accounted for 23.8 per cent of the market share and steel pipes accounted for 27.5 per cent.

Sales of interior decor, refrigeration appliances and construction equipment all maintained stable growth.

In real estate, Hòa Phát has handed over a majority of the apartments in the Mandarin Garden 2 and 70 Nguyễn Đức Cảnh projects since the end of last year, and actively started a project in Phố Nối urban area in the northern province of Hưng Yên.

The corporation has also made achievements in clean and high-tech agriculture. Its agriculture revenue expanded by over 40 per cent from 2017.

Hòa Phát contributed more than VNĐ6.3 trillion to the State budget, up 32 per cent from 2017. — VNS