Fimex VN – a member unit of PAN Group announced its 9-month business results. Accordingly, processed shrimp volume in 9 months of 2022 reached 16,068 tons, equaling 98.5% over the same period in 2021. Finished shrimp reached 14,543 tons, up 8%. Finished agricultural products recorded 1,642 tons, nearly double. Finally, consuming agricultural products reached 1,450 tons, up 18%.
General sales reached 182 million USD (~ 4,310 billion VND), up 17.5% over the same period in 2021 and fulfilled 79% of the year plan.
In September only, sales reached 20.1 million USD (~ 476 billion VND), lower than August and the same period last year. However, the company still made a good profit by using home-grown shrimp for processing to lower the cost.
The Board of Directors assessed that, from now until the end of the year, due to the influence of global inflation, consumption will not be high. Therefore, sales will not increase sharply in the last months of the year. However, the company still ensures to complete the year plan with sales and profit targets of 200 million USD and 250 billion VND, respectively.
Fimex is changing its strategy, focusing more on lowering the cost by investing in farming
Regarding shrimp farming activities, Fimex VN is conducting the harvesting for processing. The company evaluates that shrimp development is not favorable compared to the right season, but in general this solution is much better and profitable. At the same time, Fimex VN is renovating a new 203-hectare area so that it can be reared in Q2/2023.
At the beginning of June, Fimex VN announced an investment of 200 billion VND to develop a 203-hectare farming area in Soc Trang, proactively sourcing raw materials for production and business. Fimex VN aims to have 500 hectares of shrimp farming by 2025, currently making use of 302 hectares.
Besides, Fimex VN is completing a new factory, the progress is delayed due to the slow delivery of foreign machinery and equipment suppliers because of the lack of production materials and the delay in transportation. However, the management said that this does not cause pressure because currently the output of raw materials is only moderate.
Compiled by Thuy Linh
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