Navico's revenue structure in April comes from three main segments, of which fish products contributed 78%, fish oil accounted for 10% and fish cakes made up 8% of total revenue.
By export market, Navico's revenue in April came from 5 main markets. The largest market was the domestic market (Vietnam), contributing about 32.6%. The second-largest market was Thailand, accounting for about 16.4%. Followed by the Chinese market, which made up 7.3%, the Mexican market accounted for 6.4%, and the Brazilian market for about 3.8%.
The company accumulated revenue in the first 4 months reached 1,644 billion VND. Profit after tax was 323 billion VND, reaching 45% of the whole year's target. Gross profit margin improved from 19% to 32% after 4 months of business.
In the context of the thriving pangasius industry, Navico sets a goal of 4,900 billion VND in revenue, and 720 billion VND in pre-tax profit in 2022, increasing 40% and 377% respectively compared to 2021.
Viet Dragon Securities (VDSC) assesses that Navico's ambitious plan is feasible thanks to a series of favorable factors for ANV such as the increasing demand for pangasius and the recovery of the Chinese market and the ability to return exporting to the US with high selling prices.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), demand for pangasius in markets is recovering and exploding strongly after 2 years of restraint due to the COVID-19 pandemic. Besides, supply is not enough to meet demand affecting prices to increase.
Pangasius exports in April were estimated at $263 million USD, bringing the export value in the first four months of the year to $894 million USD, up 89.4% over the same period in 2021.
Compiled by Thuy Linh
Sources: Vietnam securities economic magazine
(seafood.vasep.com.vn) In recent years, Ninh Binh Province has intensified the application of science and technology in aquaculture in order to improve productivity, product quality, and economic efficiency.
(seafood.vasep.com.vn) In the first four months of 2026, Vietnam’s tilapia exports reached USD 49 million, up 151% compared to the same period in 2025. This figure reflects an emerging export sector that is taking advantage of market gaps created by global trade disruptions, while larger producers are adjusting their strategies.
On the afternoon of May 28, the People’s Committee of Ho Thi Ky Commune signed a memorandum of understanding with Minh Phu Certified Shrimp Social Co., Ltd. (a member of Minh Phu Seafood Corporation) on cooperation to develop a black tiger shrimp farming area meeting international certification standards during the 2026–2030 period in the commune.
(seafood.vasep.com.vn) The “Moringa Noodles Salad” product by Sa Giang Import-Export Corporation was honored as one of the “Top 10 Winning Products” at the THAIFEX – Anuga taste Innovation Show 2026, held as part of THAIFEX – Anuga Asia 2026 in Bangkok.
(seafood.vasep.com.vn) After a fairly strong upward trend in 2025, Vietnam’s clam exports entered 2026 with a mixed picture: strong growth at the beginning of the year, followed by a slowdown from March onward. According to Vietnam Customs data, Vietnam’s clam export turnover in the first four months of 2026 reached more than USD 38 million, up 2% compared to the same period in 2025.
(seafood.vasep.com.vn) Vietnam’s pangasius industry is facing new opportunities to expand its development space as many localities and businesses begin promoting marine farming models aimed at diversifying farming areas and adapting to climate change. However, for pangasius to truly “go offshore” and develop into a large-scale industry segment, significant challenges related to technology, broodstock, and markets still need to be addressed.
(seafood.vasep.com.vn) Vietnam’s tilapia exports in April 2026 reached USD 11 million, up 92% compared to the same period in 2025. This strong growth indicates that Vietnamese tilapia products are continuing to penetrate and expand rapidly in international markets. Cumulative export turnover in the first four months of 2026 reached USD 49 million, up 151% year-on-year.
(seafood.vasep.com) At VietShrimp Asia 2026, disease management trends in shrimp farming are shifting strongly from treatment-based approaches toward proactive prevention through environmental and pond ecosystem control.
(vasep.com.vn) After a period of strong growth, with export turnover reaching USD 38 million in Q1/2026 — up 174% year-on-year — the sector’s rapid expansion clearly reflects growing market opportunities.
(vasep.com.vn) In the first quarter of 2026, Vietnam’s pangasius exports to the ASEAN bloc reached USD 44 million, up 7% compared to the same period in 2025. After falling to the lowest level of the quarter at USD 9 million in February — reflecting the seasonal slowdown in orders after the festive period — exports recovered strongly to USD 18 million in March, the highest monthly value of the quarter. This development shows that import demand for pangasius in ASEAN remains relatively stable despite short-term fluctuations.
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