HÀ NỘI — Hoa Sen Group has reported a solid financial performance in the first seven months of its 2024–25 fiscal year, with estimated post-tax profit reaching VNĐ460 billion (US$17.7 million), completing 92 per cent of its full-year target.

This strong result reflects the company’s improved operational efficiency and adaptability amid ongoing market volatility.

During this period, the group recorded an estimated net revenue of VNĐ21.939 trillion and production output of over 1.1 million tonnes, equivalent to 58 per cent and 57 per cent of their respective annual targets. The fact that profit has nearly reached the full-year goal ahead of both output and revenue indicates a higher-than-expected profit margin, underscoring Hoa Sen’s improved cost management and business performance.

The group also reported positive cash flow from operating activities of nearly VNĐ2.03 trillion in the first six months of the fiscal year. This financial strength has enhanced its ability to manage liabilities and improved its credit profile with financial institutions and business partners. It also put the company in a good place to continue expanding its Hoa Sen Home retail network, which currently includes over 400 outlets across all 63 provinces and cities.

Hoa Sen continues to lead the Vietnamese market in coated steel, with a 29 per cent market share, and holds the second-largest share in steel pipes at 15 per cent, according to the Việt Nam Steel Association. The group has also maintained export momentum to over 90 countries and territories, while strengthening its domestic distribution to ensure product availability and growth.

Despite this strong domestic and export performance, Hoa Sen has been navigating headwinds from ongoing trade issues. In September 2024, the US Department of Commerce launched anti-dumping and countervailing investigations into certain Vietnamese steel products, including galvanised, cold-rolled and pre-painted steel. This led to a temporary suspension of Hoa Sen’s exports to the US, driven largely by cautious buyer sentiment.

The situation was compounded in April 2025, when the US officially imposed reciprocal tariffs on various countries, including Việt Nam. The announcement caused considerable disruption in global and Vietnamese stock markets. As a result, HSG shares declined below both book value and intrinsic value, impacting shareholder confidence.

Nonetheless, the group’s performance over the past seven months demonstrates its resilience and ability to adapt swiftly to global trade developments. With continued operational momentum and strong financial results, Hoa Sen Group expects to exceed the business targets approved by shareholders for the current fiscal year. — VNS