Hoa Phat Group (HPG) Q4 2024 earnings summary

Executive summary

• Q4 2024 net profit after tax was VND2.810 trillion, down 5% YoY; the reported explanation cited lower sales volume and lower steel prices.

• FY 2024 net revenue reached VND138.855 trillion and net profit after tax attributable to owners was VND12.020 trillion.

Financial highlights

• Q4 net revenue was VND34.491 trillion vs. VND34.384 trillion YoY; gross profit was VND4.365 trillion vs. VND4.472 trillion.

• FY net revenue was VND138.855 trillion vs. VND118.953 trillion; gross profit was VND18.498 trillion vs. VND12.938 trillion.

• Total assets at 31 Dec 2024 were VND224.490 trillion vs. VND187.783 trillion at 1 Jan; equity was VND114.647 trillion vs. VND102.836 trillion.

Segment performance

• Q4 external segment revenue: steel VND31.995 trillion, agriculture VND2.014 trillion and real estate VND481.2 billion; total net revenue after eliminations was VND34.491 trillion.

• Q4 steel segment pretax operating profit after segment expenses was VND4.961 trillion before VND2.327 trillion of eliminations; agriculture was VND385.4 billion and real estate VND267.6 billion.