The Hoa Phat Group (stock code: HPG ) has just announced its reviewed semi-annual financial statements for 2024. Besides the main business performance indicators, the remuneration paid to the company’s leaders also surprised many people.
According to the report, in the first half of 2024, Hoa Phat paid a total of VND 112 billion to key officials, 3.4 times higher than in the same period last year. Notably, almost the entire amount was paid as remuneration to the members of the Board of Directors, amounting to VND 106 billion, 3.8 times higher than in the same period in 2023. This figure is even 1.6 times higher than in 2023.
The amount of VND 106 billion that Hoa Phat paid to the Board of Directors was only less than in 2021 – the year the company achieved record profits.
Currently, Hoa Phat has nine members on its Board of Directors, including Mr. Tran Dinh Long, Mr. Tran Tuan Duong, Mr. Nguyen Manh Tuan, Mr. Doan Gia Cuong, Mr. Hoang Quang Viet, Mr. Nguyen Ngoc Quang, Mr. Nguyen Viet Thang, Mr. Chu Quang Vu, and Mr. Dang Ngoc Khanh. Mr. Vu and Mr. Khanh are new members of the Board of Directors since April 11, 2024.
Regarding the Board of Directors of Hoa Phat, it currently consists of General Director Nguyen Viet Thang and two Deputy Generals, Ms. Nguyen Thi Thao Nguyen and Ms. Tran Thi Thu Hien. In the first six months, the total salary and bonus of the Board of Directors members amounted to nearly VND 2.8 billion, a 38% increase compared to the previous year.
Similarly, the remuneration, salaries, and bonuses of the four members of the Supervisory Board also increased by approximately 44% over the same period to nearly VND 2 billion.
In terms of employees, as of June 30, Hoa Phat had 31,643 employees, an increase of 2,692 people compared to the beginning of the year. The company spent a total of VND 2,433 billion on employees, a 29% increase compared to the previous year. Thus, Hoa Phat spent approximately VND 12.8 million per person per month, including salary, bonus, and insurance contributions.
In the first half of 2024, Hoa Phat recorded VND 70,408 billion in revenue, up 25.5% compared to the same period. Post-tax profit reached VND 6,188 billion, nearly 3.4 times higher than in the same period last year. Especially in the second quarter of 2024, the company’s revenue approached the peak historical level.
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