Hoa Phat Group (HPG) Q3 2024 earnings summary
Event summary combining transcript, slides, and related documents.
Q3 2024 earnings summary
3 Nov, 2026Executive summary
Q3 net profit reached VND3.022tn, up 51% YoY; higher sales volume and lower steel-segment costs drove the increase.
9M net profit was VND9.210tn, versus VND3.831tn in 9M 2023.
Financial highlights
Q3 net revenue was VND33.956tn versus VND28.484tn YoY; gross profit was VND4.731tn versus VND3.595tn.
Q3 operating profit was VND3.385tn and profit before tax was VND3.412tn; net profit was VND3.022tn.
9M net revenue was VND104.364tn versus VND84.569tn; 9M net profit was VND9.210tn versus VND3.831tn.
Segment performance
Steel segment Q3 external revenue was VND31.355tn; segment operating profit before eliminations was VND5.699tn.
Agriculture segment Q3 external revenue was VND1.833tn and segment operating profit was VND312.9bn; real estate revenue was VND768.3bn.
Management attributed the Q3 profit increase to higher sales volume and lower steel-segment costs.
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
- Q2 net profit rose 129% YoY as steel volume grew and costs fell.HPGQ2 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