HIGHLIGHTS
- Hoa Phat Group ranked 15th, surpassing even the leading Japanese manufacturer, JFE Holdings.
- In the first 9 months of the year, Hoa Phat Group achieved crude steel output of 6.1 million tonnes, up 50 per cent over the same period last year.
FULL ARTICLE
First on this list is China-based Baoshan Iron & Steel Group with a market capitalization of over $30 billion. Nucor Corp and ArcelorMittal S.A, both owning nearly $29 billion in market capitalization, came in second and third, respectively. Hoa Phat Group ranked 15th, surpassing even the leading Japanese manufacturer, JFE Holdings. A major Australian steel company, BlueScope Steel, is also listed in the 23rd position with $7.3 billion.
The charter capital of Hoa Phat Group (HPG) is 44,729 billion VND, the fourth largest among enterprises listed on the Vietnam Stock Exchange. In the trading session on October 6, HPG shares officially set a new peak when closing at VND56,100 per share. With a total of 4.4 billion shares outstanding, HPG’s market capitalization reached VND250 trillion ($11 billion).
Ho Chi Minh City Securities Corporation (HSC) estimates that Hoa Phat’s third quarter revenue can reach VND 38,500 billion (up 56% over the same period last year) and an estimated profit of VND 10,339 billion (up 173% over the same period last year).
Hoa Phat’s exports of finished steel products last month grew strongly. The export volume of Hoa Phat’s construction steel, whose main export markets are Australia, Canada, Hong Kong, South Korea, and some countries in Southeast Asia, reached a record of 120,000 tonnes, nearly double compared to the same period last year.
With a crude steel capacity of 8 million tons/year, Hoa Phat is the largest steel producer in Vietnam as well as in Southeast Asia and enters the world’s Top 50 steel producer.
In the first 9 months of the year, Hoa Phat Group achieved crude steel output of 6.1 million tonnes, up 50 per cent over the same period last year. Steel sales volume reached 6.3 million tonnes, posting 43 per cent year-on-year increase. In which, the output of construction steel and hot rolled coil (HRC) were set at 2.8 million tons and 2 million tons, respectively. Hoa Phat Steel Sheet Company Ltd recorded 273,000 tonnes, 2.6 times higher than the same period last year.
Hoa Phat is the largest steel producer in Vietnam as well as in Southeast Asia. The group’s goal is always to sell all of its products, in which the first priority is the domestic market.
Manh Nguyen
FURTHER READING
Hoa Phat purchased two 90,000 – ton vessels to transport bulk cargo
