Vietnamese steel giant Hoa Phat Group reported strong financial results for the first half of 2025, with revenue exceeding VND 74 trillion ($2.83 billion) and net profit reaching more than VND 7.6 trillion ($290.5 million), reflecting a year-on-year increase of 5 percent in revenue and 23 percent in profit.
In the second quarter alone, the group generated VND 36 trillion ($1.38 billion) in revenue and VND 4.3 trillion ($164.4 million) in net profit.
For 2025, Hoa Phat has set a full-year revenue target of VND 170 trillion ($6.5 billion) and a net profit goal of VND 15 trillion ($573.5 million). As of the end of June, the group had already achieved 44 percent of its revenue goal and 51 percent of its profit target.
New facility for transportation infrastructure
Looking ahead, Hoa Phat will begin construction on August 19, 2025, of a specialized steel plant in Dung Quat, Quang Ngai. The plant will produce high-speed train rails and special-shaped steel, intended for major national infrastructure projects such as the North-South High-Speed Railway, the Hai Phong-Hanoi-Lao Cai line, and various urban railway lines in Hanoi and Ho Chi Minh City.
As previously reported by SteelOrbis, the company is accelerating the commissioning of blast furnace No. 6 to complete the second phase of the Hoa Phat Dung Quat 2 Integrated Steel Complex by September. Upon completion, Hoa Phat’s total annual steel production capacity will reach 16 million mt, including 9 million mt of hot-rolled coil (HRC), fully satisfying domestic demand.
$1 = VND 26.160 (July 18)
