During the period, financial income of Camimex Group doubled over the same period to nearly 9 billion VND. This operating expense also increased 120% to 26.4 billion VND.
In addition, selling expenses of Camimex Group also increased sharply to VND 28 billion and administrative expenses recorded VND 14 billion. After deducting expenses, the company reported a profit after tax in the third quarter of 33.7 billion VND - up 22% over the same period.
Accumulated in 9 months of 2022, Camimex Group achieved a total revenue of VND 2,200 billion, up 53% over the same period. Profit after tax is at nearly 87 billion dong. With this result, Camimex Group only fulfilled 56% of the revenue plan and only 29% of the full year profit target.
On the balance sheet as of September 30, 2022, Camimex Group's total assets are at more than VND 2,900 billion, including VND 51 billion in cash and VND 200 billion in investments held to maturity.
In addition, the company's inventory was also high, increasing 27% compared to the beginning of the year to nearly 1,100 billion dong (more than 41 billion dong was deducted from provision for devaluation) and accounted for 38% of total assets.
The company's liabilities by the end of the third quarter were nearly VND 1,520 billion, of which VND 1,033 billion were financial loans, which increased sharply compared to the beginning of the year and accounted for 68% of total debt. Large financial debt caused the company to bear nearly 41 billion dong in interest expense since the beginning of the year.
At the recent seminar "Fishery industry 2023: Identifying challenges and solving the problem of decreasing orders, increasing interest rates", Mr. Truong Dinh Hoe - General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP) said that Vietnam seafood export turnover in 2022 will reach about 11 billion USD. In which, shrimp exports reached 4.3 billion USD; pangasius reached 2.5 billion USD; seafood reached 3.2 billion USD; tuna 1 billion USD.
Notably, all products have a double-digit growth, average 18-77%. All markets grew by double digits, averaging 15-75%, except for the UK market, which only increased by 3%, while the Russian market still grew by 0.2%.
According to Mr. Hoe, currently, Vietnam's seafood export ranks third in the world, after China ($18 billion) and Norway ($11 billion), accounting for 7% of the market share. In particular, Vietnam is among the 4th shrimp suppliers along with Ecuador, India and Indonesia. Vietnamese shrimp accounts for nearly 8% market share in the US and China in 2022 and also increasing its market share in the EU after 2 years of EVFTA despite COVID-19.
Although assessed as strong growth, Mr. Truong Dinh Hoe said that the seafood industry is facing internal challenges such as: infrastructure problems for farming; quality of breeding stock, parental breed; input cost; fisheries management in accordance with the IUU Regulation; fuel costs for fishing and resources.
In addition, there are external challenges such as: inflation, growth slowdown in key markets affecting spending and limiting consumer demand; servire competition. The Chinese market has great potential, but besides many opportunities, there are also risks due to diversity in trade as well as COVID-19 management policies.
Compiled by Thuy Linh
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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