Positive export growth has contributed to boosting business results of enterprises. According to data from VietstockFinance, the total revenue of 11 seafood enterprises (on HOSE, HNX, UPCoM) reached VND 39.6 trillion, up 32% over 2021. In which, 5 enterprises accounted for 87% of the whole industry's revenue, all of which grew over double digits.
According to SSI Research, the trend of devaluation of VND against USD during the year also benefits seafood businesses with revenue recorded in USD.
The biggest beneficiary from exporting pangasius to the US and China was Vinh Hoan JSC (HOSE: VHC) with revenue of 13.2 trillion dong, up 46% over the previous year. VHC's financial income also reached more than 459 billion dong, more than double the previous year thanks to more than 363 billion dong of unrealized exchange rate difference and 81.5 billion dong of deposit interest.
Exceeding the expectation of profit after tax (PAT) in 2022 by 25%, Vinh Hoan reached the PAT milestone of more than 2 trillion dong; net profit of more than 1.9 trillion dong, up 80% compared to 2022.
Also benefiting from pangasius exports, International Development and Investment Corporation - IDI (HOSE: IDI) and Navico (HOSE: ANV) increased revenue by 39% and 40%, respectively.
Compared to pangasius businesses, revenue growth of shrimp exporters was quite modest but still high compared to the previous year.
IDI's revenue reached 7.9 trillion VND, mainly from selling pangasius products and finished products accounted for 45%, sales of fishmeal and fish fat accounted for 37%.
ANV's revenue in 2022 reached nearly VND 4.9 trillion and tended to decrease in the second half of the year. The business results in the fourth quarter recorded a positive growth with an increase of 96% in net profit over the same period (VND 107 billion).
Compared to the ambitious PAT target of 900 billion for 2022, IDI only completed 62%. ANV fulfilled 77% of the plan with a pre-tax profit of nearly 774 billion dong. Although not meeting the annual target, in terms of growth, IDI and ANV are the two brightest enterprises reporting strong profits. IDI's net profit quadrupled to 543 billion dong, while ANV's profit increased 5 times to nearly 674 billion dong.
Compared to pangasius businesses, revenue growth of shrimp exporters was quite modest but still high compared to the previous year.
FIMEX VN (HOSE: FMC) achieved revenue of VND 5.7 trillion, up 10%. Most of them were revenue from selling seafood, nearly 5.5 trillion dong, up 10%; revenue from financial activities (mainly interest on exchange rate differences) was more than 73 billion dong, up 84%.
At the end of 2022, FMC's pre-tax profit is 328 billion dong, exceeding 9% of the year plan. After deducting tax, net profit reached 307.5 billion dong, up 15%.
Camimex Group JSC (HOSE: CMX) achieved more than VND 95 billion in profit after tax, equal to 32% of the year target. CMX's net profit only increased by 6% to 72 billion dong.
In general, the gross profit margin of seafood enterprises improved all compared to the previous year, reaching an average of 16%, while the previous year only reached 13%. The gross profit margin of pangasius exporters is larger than shrimp enterprises.
Compiled by Thuy Linh
(seafood.vasep.com.vn) The purchase price of raw pangasius in the first 11 months of 2024 remained at 26,000-27,000 VND/kg. However, farmers faced challenges in earning profits due to rising costs of fish feed, fuel, and labor during the year.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX) recently announced its production and business results for November 2024, showing a 5% year-over-year increase in revenue but a 21% decline compared to the previous month.
(seafood.vasep.com.vn) Soc Trang province underscores the critical role of the fisheries sector in driving its socio-economic development. Located along Vietnam's coastline, the province features 72 km of shoreline, three major estuaries—Dinh An, Tran De, and My Thanh—and a dense river network encompassing diverse ecosystems, including saltwater, brackish, and freshwater. These natural resources provide ideal conditions for the growth of aquaculture, making the fisheries sector a cornerstone of Soc Trang’s economic strategy.
(seafood.vasep.com.vn) In 2024, the pangasius industry in Dong Thap is projected to achieve a production value of VND 8.802 billion, marking a 2.86% increase compared to 2023 and accounting for over 17% of the province's total agricultural, forestry, and fishery production value.
(seafood.vasep.com.vn) Vietnam's tuna exports to Japan have seen robust growth over the past two months. Data from Vietnam Customs shows that in October 2024 alone, tuna exports to Japan surged by 31% year-on-year, reaching nearly USD 3.5 million. This growth has offset the decline experienced in the first half of the year, raising the total export value for the first ten months of 2024 to nearly USD 28 million, a 5% increase compared to the same period last year.
A business forum was held by the Dutch Embassy in Vietnam in collaboration with the Ministry of Agriculture and Rural Development (MARD) in the Mekong Delta city of Can Tho on November 27, seeking ways for sustainable aquaculture in the region.
(seafood.vasep.com.vn) On November 18, Ms. Truong Ha Phuong Anh, Director of the Center for Investment Promotion and Business Support (iPEC), stated that during the Ca Mau Province Agricultural and Aquatic Products Trade Promotion Conference 2024, held on November 15, there were 209 direct trade interactions between 42 seafood processing and exporting enterprises, OCOP producers in the province, and five leading domestic retail companies: Central Retail, Saigon Co.op, Kingfood Mart, Bach Hoa Xanh, and Satra Supermarket.
In 2024, the Binh Dinh Agricultural Extension Center successfully implemented a semi-intensive and intensive two-stage whiteleg shrimp farming model using Semi-Biofloc technology.
(seafood.vasep.com.vn) Recently, the area dedicated to super-intensive, high-density whiteleg shrimp farming in Trà Vinh Province has been rapidly expanding due to its high productivity and economic efficiency.
(seafood.vasep.com.vn) In collaboration with provincial authorities, specialized agencies, and local coastal governments, seafood processing and export enterprises in Binh Dinh Province are actively working to address issues related to illegal, unreported, and unregulated (IUU) fishing. The shared goal is to have the European Union's "yellow card" removed this year.
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