Vietnamese steelmaker Hoa Sen Group achieved an estimated revenue of VND12.2tr ($529mn) in the past four months, completing 37pc of the VND33tr plan for FY21. During this period, Hoa Sen’s profit after tax of VND 747bn reached 49.8pc of the VND1.5tr goal for FY21.
In FY21, Hoa Sen targets production of 1.8mn mt, up 11pc against FY20 as previously reported by Davis Index. The revenue target is up 20pc compared to FY20. Hoa Sen’s revenue in January 2021 is estimated at VND3.1tr, profit after tax is estimated at VND 175 billion. In January and February 2021, Hoa Sen exported about 100,000mt of steel with an estimated revenue of $70-80mn each month.
In 2020, the exports of metal plating and color coating by members of the Vietnam Steel Association tallied at 1.6mn mt with Hoa Sen constituting 752,530mt or 46.5pc of the export volume of galvanized steel in the industry.