Hoa Sen (HSG) Hits 114% of FY2025-2026 Profit Target After 9 Months
This Aveluro analysis covers HSG (Hoa Sen) on HOSE in the Basic Resources sector. The classified event type is earnings beat, with positive sentiment and a deterministic market-impact score of 8.4/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from CafeF - Thị trường chứng khoán, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
Hoa Sen Group (HSG) announced preliminary consolidated results for the third quarter and first nine months of fiscal year 2025-2026 (October 2025 to June 2026), reporting net profit of VND 568 billion, equivalent to 114% of the full-year profit target. The strong performance was led by Q3 net profit of VND 382 billion, up 39% year-on-year, as domestic demand and retail expansion supported volume growth.
Key Facts
- 9-month consolidated sales volume reached 1,319,545 tons, completing 75% of the annual plan.
- 9-month consolidated revenue reached VND 27,358 billion, completing 78% of the annual plan.
- 9-month consolidated net profit reached VND 568 billion, completing 114% of the profit plan (Plan 1 approved by shareholders).
- Q3 (April-June 2026) sales volume was 461,739 tons; revenue was VND 10,000 billion (+5% YoY); net profit was VND 382 billion (+39% YoY).
- Book value per share stood at approximately VND 14,700 after a 30% stock dividend paid in May 2026.
- HSG operates 9 factories and a network of over 400 branches and stores nationwide.
What Happened
Hoa Sen Group (HSG) released its estimated consolidated business results for the third quarter and first nine months of fiscal year 2025-2026 (October 1, 2025 to June 30, 2026). The company reported that after nine months, net profit reached VND 568 billion, surpassing the full-year target by 14%. The Q3 contribution was significant, with net profit of VND 382 billion, a 39% increase compared to the same period last year.
The company attributed the strong performance to robust domestic demand, supported by accelerated public investment and recovering construction activity. HSG also highlighted its extensive distribution network and the ongoing expansion of its Hoa Sen Home building materials and furniture retail chain as key growth drivers.
Market Context
HSG shares closed at VND 11,350 on July 12, 2026, down 1.30% on volume of 1.76 million shares. The stock trades on HOSE in the Basic Resources sector. The earnings beat comes amid a recovering steel market in Vietnam, with infrastructure spending and real estate activity providing tailwinds. HSG’s book value of VND 14,700 per share implies a price-to-book ratio of approximately 0.77x, suggesting the stock may be undervalued relative to its net assets.
Strategic Significance
The 114% profit completion after nine months demonstrates HSG’s operational resilience and ability to capitalize on domestic demand recovery. The company’s strategy of expanding the Hoa Sen Home retail chain positions it to capture higher-margin retail sales and reduce reliance on wholesale and export markets. With a strong balance sheet and extensive distribution network, HSG is well-placed to benefit from Vietnam’s infrastructure-driven growth and potential housing market recovery. The stock dividend also signals management’s confidence in future cash flows.
What to Watch
- Q4 fiscal 2025-2026 results (July-September 2026) to see if momentum continues.
- Progress of Hoa Sen Home retail expansion and contribution to revenue and margins.
- Steel price trends and input cost movements (especially hot-rolled coil).
- Any trade protection measures affecting HSG’s export markets.
- Dividend policy for the next fiscal year and potential share buybacks.