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 Report on Vietnam Pangasius Sector 2015–2024, produced and released by the Vietnam Association of Seafood Exporters and Producers (VASEP) in January 2025, is expected to provide enterprises, importers, and government agencies with a comprehensive overview of key developments in Vietnam's pangasius production and export over the past decade. In addition to highlighting achievements, the report identifies existing challenges and analyzes future opportunities and threats for the pangasius industry.
(vasep.com.vn) Overcoming two years of fluctuation in both export markets and domestic production, Vietnam's pangasius industry has demonstrated resilience, adaptability, and a strong determination to seize opportunities and boost exports to various markets. As a result, in 2024, pangasius exports reached USD 2 billion, a 9% increase compared to 2023. This achievement is a source of pride for Vietnam's aquaculture and agriculture sectors.
(seafood.vasep.com) Speaking at a conference to implement the 2025 plan of the Ministry of Agriculture and Rural Development, Prime Minister Pham Minh Chinh urged the agricultural sector to strive for a total export turnover of agricultural, forestry, and fishery products reaching $70 billion by 2025.
With robust production and processing infrastructure, combined with continuous market development efforts, Vietnam’s seafood exports are poised for 10–15% growth in 2025.
In 2025, seafood exports are expected to continue to grow better and could reach 11 billion USD as in 2022. However, this is also the year the seafood industry will face challenges, including increased competition from other countries, trade wars and market barriers...
(seafood.vasep.com.vn) On the afternoon of December 25, at Toan Thinh Conference Center (Soc Trang City), the Soc Trang Fisheries Sub-department, under the Department of Agriculture and Rural Development of Soc Trang, held a conference to review the 2024 aquaculture activities and outline the brackish water shrimp farming plan for 2025. The event was attended by Ms. Quach Thi Thanh Binh, Deputy Director of the Department of Agriculture and Rural Development of Soc Trang.
The Mekong Delta province of Soc Trang aims to achieve export value of over 1.9 billion USD in 2025 by boosting production and processing of key products such as seafood, high-quality rice, fruits, and garments.
The UK-Vietnam Free Trade Agreement has significantly boosted Vietnamese seafood exports, with shrimp and pangasius leading the charge in the UK market.
(seafood.vasep.com.vn) In November 2024, Vietnam's tuna exports failed to maintain the rapid growth momentum seen earlier. Export value during the month increased by nearly 4% year-on-year, reaching approximately USD 82 million. Cumulatively, the export value for the first 11 months of 2024 totaled USD 903 million, a 17% increase compared to the same period in 2023. However, at this growth rate, the total export turnover for 2024 is estimated to only reach around USD 1 billion.
(seafood.vasep.com.vn) On the evening of December 24, 2024, in Hanoi, the Central Youth Union, Viet nam Youth Federation and the Vietnam Young Entrepreneurs Association held the Vietnam Golden Star Award Ceremony 2024, with the theme "Reaching Vietnam", honoring 200 outstanding enterprises. Deputy Prime Minister Nguyen Hoa Binh attended.
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