Hoa Sen exports 50,000 tons of corrugated iron to Europe and America

In late May and the first half of June 2020, Hoa Sen Group exported 50,000 tons of galvanized iron sheet, including 35,000 tons to Europe and 15,000 tons to the Americas from Nghi Son International Port, Thanh Hoa province and Port. Thi Vai International, Ba Ria – Vung Tau Province.

Hoa Sen exports 50,000 tons of corrugated iron to Europe and America

Hoa Sen Steel Sheet Plant in Nghe An Province. Photo: hoasengroup.vn

Hoa Sen Group (Code: HSG) said that up to now, this is the largest consignment of Hoa Sen Group exported to the European market.

Over the years, exports have been an important consumption channel of Hoa Sen. In the three months of 3-4-52020 is also the peak period of the COVID-19 pandemic outbreak worldwide, Hoa Sen’s export output to Europe and America markets increased 127% over the same period. Last year, the European market alone increased by 318% over the same period.

In February this year, Hoa Sen also exported 10,000 tons of galvanized steel sheet worth 7.5 million USD to Europe. In the 2018-2019 fiscal year, Hoa Sen consumed domestic 914,020 tons, accounting for 66% of the total output of the group. Export channel reached 479,953 tons, accounting for 34%.

Hoa Sen exports 50,000 tons of corrugated iron to Europe and America

Hoa Sen exports 50,000-ton shipments to the US and Europe. Photo: hoasengroup.vn.

According to a report of Vietnam Steel Association (VSA), in May 2020, sales of metal-plated corrugated iron and colored paint of VSA members reached 305,275 tons, particularly exports reached 89,574 tons, of which production output Hoa Sen galvanized steel sheet is 44,417 tons, leading and accounting for nearly 50% of the whole galvanized steel export.

Hoa Sen Group said its export volume in June 2020 increased slightly compared to May, reaching 46,000 tons.

Recently, Hoa Sen Group announced its business results in May 2020 with revenue of 2,471 billion dong, after tax profit of 112 billion dong. In the first 8 months of the fiscal year 2019-2020, Hoa Sen achieved revenue of VND 17,068 billion, profit after tax of VND 584 billion, respectively completing 61% of the revenue plan and 146% of the annual profit plan. .

Recently, Hoa Sen announced its plan to hold an extraordinary general meeting of shareholders on August 8, 2020 to discuss the issuance of shares to strategic partners.

Source: vietnambiz.vn

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