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.
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) In 2024, the total brackish water shrimp farming area in Ca Mau reached 278,600 hectares, with a shrimp output of 242,000 tons. This output achieved 99.59% of the set target and marked a 4.57% increase compared to the same period last year. The average shrimp yield attained 869 kilograms per hectare per year, representing a 38 kilograms per hectare per year increase compared to 2023. Shrimp export turnover reached USD 1.12 billion, positioning Ca Mau amongst the nation's leading localities in this sector.
(seafood.vasep.com.vn) In 2024, Ben Tre province expanded its high-technology application in aquaculture by an additional 523 hectares, surpassing the planned target of 500 hectares and achieving a fulfillment rate of 104.6%. To date, the province has converted 3,633 hectares to high-tech aquaculture out of the 4,000-hectare goal, representing 90.82% progress towards the 2021-2025 phase plan. This sector yields an average productivity of 60-70 tons per hectare, with a total output reaching 221,282 tons. The average profit margin ranges from VND 700 to 800 million per farming season, delivering substantial economic benefits to the local populace.
(seafood.vasep.com.vn) In 2025 In 2025, Vietnam's brackish water shrimp industry will continue to grow sustainably, enhancing value-added products with strong contributions from local authorities and the business community.
(seafood.vasep.com.vn) In January 2025, the country's total seafood output was estimated at 594,100 tons, a 0.7% increase compared to the same period last year. Specifically, fish production reached 443,400 tons, up 0.7%; shrimp output was 56,300 tons, up 3.1%; and other seafood products totaled 94,400 tons, down 0.9%.
(seafood.vasep.com.vn) The industrial pangasius production in Vinh Long province in 2024 reached 95,100 tons, a 4% decrease compared to 2023. Despite the decline in production, positive trends in the final months of the year offer hope for improving economic efficiency in the near future. Additionally, the increase in the area for industrial pangasius farming and the maintenance of overall aquaculture area demonstrate the province’s efforts to sustain its production activities.
(seafood.vasep.com.vn) In January 2025, Vietnam's total seafood export value reached 774.3 million USD, a 3.3% increase compared to the same period in 2024. This is a positive result compared to January 2023, when the Lunar New Year fell at the end of the month, significantly impacting export outcomes.
(seafood.com.vn) In 2024, Vietnam exported shrimp to 107 markets, up from 102 in 2023. The top 5 major markets for Vietnam’s shrimp exports were China & Hong Kong, the U.S., Japan, the EU, and South Korea, accounting for 76% of the total shrimp export value.
(seafood.vasep.com.vn) In 2024, Vietnam's seafood sector successfully exported to numerous countries, reaching a milestone of USD 10 billion, a 12% increase compared to 2023. 2025 promises to be a prospective year for promoting exports to various markets, including target and potential markets such as the US, China, ASEAN, and the Middle East.
(seafood.vasep.com.vn) The EU has been one of the largest consumers of Vietnamese pangasius over the past decade. However, data from Vietnam Customs reveals a gradual decline in EU imports of pangasius from Vietnam over the last five years.
The Report on Vietnam Seafood Exports in 2024 by the Vietnam Association of Seafood Exporters and Producers (VASEP) was published amid positive developments in the country's seafood industry, marking a successful year with a total export value of USD 10 billion, a 12% increase compared to 2023. This milestone underscores the sustainable growth and exceptional potential of the seafood sector in contributing to the national economy.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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