Camimex sets a seafood export target of 100 million USD in 2023

According to the document of the 2023 Annual General Meeting of Shareholders announced on May 26, Camimex Group JSC (HoSE: CMX) sets a target of  VND 3,053 billion in total revenue and VND 103 billion in profit after-tax, increasing 5% and 14% compared to the same period in 2022.

Regarding exports in 2023, Camimex aims to export 10,000 tons of finished products with a turnover of 100 million USD. Thus, compared with the results of 2022, Camimex's target this year is to increase 28.9% in export turnover.

In the first quarter of 2023, according to the consolidated financial statements, Camimex collected VND 246 billion in revenue and VND 23.07 billion in profit after tax, completing 8% of the year plan in terms of revenue and 22% of the profit plan.

In 2022, Camimex earned VND 2,900 billion in revenue, VND 90 billion in profit after tax, and seafood export turnover reached USD 77.54 million.

In 2022, Camimex has 4 main markets: the EU, South Korea, Canada and Japan

In 2022, Camimex has 4 main markets: the EU with a value of 39.92 million USD (accounting for 51.47% of the total export turnover); Korea with 18.45 million USD (23.79%); Canada with USD 8.01 million (10.33%); Japan with 3.63 million USD (4.68%).

Regarding the development orientation in the coming time, Camimex plans to expand the ecological shrimp farming area to 20,000 hectares. At the same time, Camimex will invest in high-tech shrimp farming, gradually becoming partially self-sufficient in raw materials for production and business. The aim is to strive for self-sufficiency in 20-30% of input vannamei shrimp materials by 2025.

Additionally, Camimex will invest in fish processing, specifically the processing of cod, pollock, barramundi, and salmon. They will also make investments in fish farming, focusing on salmon and sea bass."

Camimex sets a seafood export target of  100 million USD in 2023

The company also presented several other ambitious objectives, such as the completion of No. 1 processing factory processing factory, which requires a substantial investment of 303 billion VND. Additionally, Camimex  aims to attract investors for their subsidiaries in order to  enhance their financial capacity and expand their business operations. These goals are particularly crucial given the challenging circumstances surrounding Vietnam's seafood exports.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in April 2023, Vietnam's shrimp exports continued the downward trend of previous months, reaching 287 million USD, down 35% compared to the same period last year. . Accumulated in the first 4 months of the year, shrimp export turnover reached USD 887 million, down 36% compared to the same period last year. In 92 export markets, Vietnamese shrimp exports to the EU recorded a decrease of more than 45% over the same period in 2022; Korean and Japanese markets also fell around 30%.

Camimex Group JSC, formerly known as Ca Mau Frozen Enterprise, was established in 1977, operating mainly in the field of aquaculture, processing and preservation of seafood and aquatic products; export aquatic products, agricultural products. In 2005, Camimex officially became a joint stock company and in 2010 officially listed on HoSE.

Compiled by Thuy Linh