Hoa Phat Group reported revenue of over VND 53.3 trillion (USD 2 bln) and net profit of VND 9.06 trillion (USD 344 mln) in the first quarter of 2026, up 40pct and 170pct YoY, respectively. Profit reached 41pct of the company’s full-year target.
Crude steel output totalled 3.3 mln tons in Q1, rising 25pct YoY, while total steel sales reached around 3 mln tons, up 26pct.
The company’s HRC sales exceeded 1.4 mln tons, up 48pct YoY, with nearly 80pct consumed domestically.
The group also produces and supplies downstream steel products, including steel pipes, coated sheets and prestressed steel, for both domestic and export markets. In Q1, Hoa Phat delivered 241,000 tons of steel pipes and 106,000 tons of coated steel sheets, up 30pct and 19pct YoY, respectively, while prestressed steel and drawn wire products totalled over 62,000 tons, rising 63pct YoY.
The group is progressing with its Dung Quat special steel and rail production project, with capacity of 700,000 tons per year. The project is around 35pct complete after three months of construction, with equipment installation scheduled to begin in June and first rail output targeted for the first quarter of 2027.
The company said its core steel segment is expected to remain supported by market conditions and contributions from major investments, including the Dung Quat integrated steel complex.
Hoa Phat Group is one of Vietnam’s leading industrial manufacturers, with steel as its core business. By the end of 2026, its crude steel production capacity is expected to reach 16 mln tons per year, ranking first in Southeast Asia and placing it among the top steelmakers globally.
1 USD / 26,320 VND