Hoa Phat Group (HPG) Q2 2025 earnings summary

Executive summary

• Q2 net profit after tax was VND4,264,524,105,532, up 28% YoY; higher sales volume and lower steel costs were cited as the main drivers.

• Q2 net revenue was VND35,910,519,111,209, down from VND39,555,509,827,454 a year earlier.

Financial highlights

• Q2 gross profit was VND6,589,722,485,709 versus VND5,247,480,489,645 YoY; operating profit was VND4,960,786,332,190 versus VND3,691,521,124,284.

• Q2 profit before tax was VND4,972,383,493,663 versus VND3,733,225,669,765; net profit after tax was VND4,264,524,105,532 versus VND3,319,574,718,545.

• H1 net revenue was VND73,532,193,664,787 versus VND70,407,869,419,171; gross profit was VND12,013,876,410,841 versus VND9,401,463,450,242.

• H1 operating profit was VND8,767,368,343,192 versus VND6,579,188,890,742; net profit after tax was VND7,614,329,521,616 versus VND6,188,757,321,017.

Segment performance

• Q2 net external revenue: steel VND33,530,952,135,835; agriculture VND2,240,141,027,236; real estate VND139,425,948,138.

• Steel segment revenue was below the prior-year quarter’s VND37,879,417,760,422; agriculture revenue was above its prior-year VND1,542,059,308,419.