Hoa Phat targets record steel output in 2026 on back of plant expansion

Hoa Phat Group has set an ambitious sales target of nearly 15 million metric tons of steel for 2026, marking a 40% increase over the previous year's total and representing the company's highest production goal to date.

Chief Financial Officer Pham Thi Kim Oanh unveiled the projection at an investor meeting in Ho Chi Minh City, attributing the expected growth to the stable ramp-up of the Hoa Phat Dung Quat 2 Iron and Steel Complex. The newly fully operational expansion is poised to contribute an additional 3 to 4 million tons of hot-rolled coil (HRC) steel annually.

Supported by sustained domestic demand from infrastructure, construction, and housing sectors, the company is forecasting full-year revenue of VND 210,000 billion and after-tax profits of VND 22,000 billion.