Hoa Phat Group (HPG) Q2 2024 earnings summary
Event summary combining transcript, slides, and related documents.
Q2 2024 earnings summary
3 Nov, 2026Executive summary
Q2 2024 net revenue reached VND39.56tn and net profit after tax VND3.32tn; profit after tax rose 129% YoY, driven mainly by higher sales volume and lower steel-segment costs.
H1 2024 net revenue was VND70.41tn and net profit after tax VND6.19tn.
Financial highlights
Q2 net revenue was VND39.56tn vs VND29.50tn YoY; gross profit was VND5.25tn vs VND3.19tn.
Q2 operating profit was VND3.69tn vs VND1.72tn; profit before tax was VND3.73tn vs VND1.70tn.
Q2 net profit after tax was VND3.32tn vs VND1.45tn; attributable to parent equity holders was VND3.32tn.
H1 net revenue was VND70.41tn vs VND56.09tn; gross profit was VND9.40tn vs VND4.87tn.
H1 profit before tax was VND6.99tn vs VND2.23tn; net profit after tax was VND6.19tn vs VND1.83tn.
Outlook and guidance
Q2 profit improvement was attributed to growth in sales volume and lower costs in the steel segment.
Latest events from Hoa Phat Group
- Profit plunged 76% as steel headwinds squeezed margins; FY23 targets modest recovery.HPG
Q4 2022 - Record FY2021 earnings were steel-led, with major expansion plans balanced by cost and market risks.HPGQ4 2021
- Q4 profit dipped 5% YoY; FY growth coincided with a major expansion in steel-project construction.HPGQ4 2024
- Q3 returned to profitability as higher sales volume and lower steel costs lifted earnings.HPGQ3 2023
- Q4 returned to profit as steel sales volumes rose and costs fell.HPGQ4 2023
- Q3 profit rose 51% YoY as higher steel volumes and lower costs lifted earnings.HPGQ3 2024
- Q1 profit surged 649% as sales volume rose and steel-segment costs fell.HPGQ1 2024
- Net profit rose 17% as higher sales and lower steel costs offset negative operating cash flow.HPGQ1 2025
- Q2 profit rose 28% as volume growth and lower steel costs offset softer revenue.HPGQ2 2025