HCM CITY — Hoa Sen Group (HSG) has announced consolidated after-tax profit of VNĐ371 billion (US$14.7 million) in the first six months of the 2024–25 fiscal year, fulfilling 74 per cent of the year’s profit target under its high-growth scenario.

The result highlights the company’s effective business strategies and adaptability in the face of ongoing market volatility, both domestically and globally.

According to its recently released consolidated financial statements for the second quarter (January 1 to March 31, 2025), HSG recorded nearly 433,000 tonnes in output and VNĐ8.45 trillion in revenue. After-tax profit for the quarter reached VNĐ205 billion, up 24 per cent compared to the first quarter.

Over the first half of the fiscal year (from October 1, 2024 to March 31, 2025), HSG reported a total output of 946,648 tonnes, equivalent to 49 per cent of its annual target. Consolidated revenue reached VNĐ18.67 trillion, or 53 per cent of the yearly plan.

On average, the company generated more than VNĐ2 billion in profit per day during the reporting period.

HSG’s gross profit margin rose from 11.8 per cent in Q1 to 12.7 per cent in Q2, reflecting improved production efficiency and cost optimisation.

The group also reported a decline in financial expenses by eight per cent, or VNĐ4 billion, due to reducing its short-term debt from VNĐ5.36 trillion to VNĐ3.53 trillion. Selling expenses fell by 13 per cent, or VNĐ111 billion, further contributing to the increase in net profit. 

Meanwhile, financial income surged by 178 per cent to VNĐ120 billion, up from VNĐ43 billion in the previous quarter, driven mainly by exchange rate gains from export activities.

In recent months, Việt Nam’s steel industry has faced headwinds due to global trade protectionism. In September 2024, the US Department of Commerce launched an anti-dumping investigation targeting Vietnamese exports of galvanised, cold-galvanised, and colour-coated steel products.

As a result, Hoa Sen’s export activities to the US have been temporarily affected. However, the group continues to leverage its core strengths and has actively sought to expand into new, high-potential markets. Currently, its export products reach over 90 countries and territories.

Despite an uncertain global economic environment and challenges in international trade, Hoa Sen Group has demonstrated resilience and flexibility in adapting to market fluctuations.

With a focus on optimising operations, strengthening its domestic market presence, and expanding export activities, HSG is confident in maintaining sustainable growth and completing its targets for the 2024–25 fiscal year. — VNS