Hòa Phát (HPG) posts $291 million profit in first half

Hòa Phát (HPG) posts $291 million profit in first half

In the second quarter alone, Hòa Phát posted revenue of over VNĐ36 trillion and after-tax profit of VNĐ4.3 trillion.

Steel sales, including HRC, construction steel, high-quality steel and billets, reached 2.6 million tonnes. — Photo courtesy of the firm

Hòa Phát Group recorded strong business results in the first half of 2025, with after-tax profit exceeding VNĐ7.6 trillion (US$291 million), up 23 per cent year-on-year, as the company ramped up steel production and expanded hot rolled coil (HRC) output.

In the second quarter alone, Hòa Phát posted revenue of over VNĐ36 trillion and after-tax profit of VNĐ4.3 trillion. Cumulatively for the first six months, revenue reached more than VNĐ74 trillion, an increase of 5 per cent compared to the same period last year.

The group’s steel segment continued to drive growth, accounting for nearly 90 per cent of total consolidated revenue. In Q2, Hòa Phát produced 2.5 million tonnes of crude steel, equivalent to the previous quarter and 10 per cent higher than in Q2/2024. Steel sales, including HRC, construction steel, high-quality steel and billets, reached 2.6 million tonnes, up 9 per cent from the previous quarter and 18 per cent year-on-year.

In the first six months, crude steel output totalled 5.1 million tonnes, rising 17 per cent from the first half of 2024. Total steel sales reached 5 million tonnes, a 23 per cent increase. HRC stood out with a 42 per cent surge compared to the same period last year.

To meet growing market demand, Hòa Phát is accelerating progress on its key production projects. The sixth blast furnace, part of the second phase of the Hòa Phát Dung Quất 2 Iron and Steel Complex, is expected to be completed in September 2025. Once operational, it will bring the group’s total steelmaking capacity to 16 million tonnes per year, including 9 million tonnes of HRC, enabling it to fully meet domestic market demand for this product.

Hòa Phát has set a 2025 business target of VNĐ170 trillion in revenue and VNĐ15 trillion in after-tax profit. With the results recorded in the first half of the year, the group has completed 44 per cent of its revenue goal and 51 per cent of its profit target.

The agricultural segment also delivered notable growth, with revenue rising 38 per cent and after-tax profit soaring 130 per cent year-on-year in the first six months.

On August 19, 2025, Hòa Phát will start construction of a steel rail and special profile steel plant in Dung Quất, Quảng Ngãi. The plant will supply products for key national projects, including the North–South high-speed railway, the Hải Phòng–Hà Nội–Lào Cai railway and several urban railway projects in Hà Nội and HCM City. 

Bizhub