- 2023-02-01T00:00:00
- Company Research
HPG released official Q4 2022 results that are consistent with the preliminary results announced on January 19, including revenue of VND25.8tn (USD1.1bn; -42% YoY & 24% QoQ) and a net loss of VND2.1tn (USD84.4mn) compared to NPAT-MI of VND7.4tn (USD314.7mn) in Q4 2021 and a net loss of VND1.8tn (USD75.2mn) in Q3 2022. Despite positive steel sales volume growth throughout 2022, we mainly attribute the weak Q4 results to high inventory costs in H2 2022 resulting from unfavorable trends in both input material prices and output selling prices. For 2022, HPG reported revenue of VND141.4tn (USD6.0bn; -6% YoY) and NPAT-MI of VND8.5tn (USD359.5mn; -75% YoY), fulfilling 109% and 92% of our respective full-year 2022 forecasts as stated in our latest Update Report, dated November 22, 2022. |
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