Vietnam’s Hoa Phat Group posts lower sales revenues for 2022

Thursday, 19 January 2023 12:27:20 (GMT+3)   |   Istanbul
       

Vietnam-based steel producer Hoa Phat Group has announced its financial results for the fourth quarter and the full year of 2022.

In the fourth quarter, the company reported a net loss of VND 2.0 trillion ($84.99 million), compared to a net loss of VND 1.17 trillion in the third quarter, while its sales revenue totaled VND 26.0 trillion ($1.1 billion), down by 42 percent, both year on year. 

In 2022, Hoa Phat’s sales revenues amounted to nearly VND 142.0 trillion ($6.04 billion), down by five percent year on year, while its net profit totaled VND 8.4 trillion ($356.86 million). 

In 2022, the company’s total sales of construction steel, hot rolled coil and billet amounted to 7.2 million mt, decreasing by seven percent compared to the previous year.


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