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) According to statistics from Vietnam Customs, Vietnam's crab export value in March 2024 reached more than 18 million USD, an increase of 66% over the same period last year. Cumulatively, in the first 3 months of the year, export turnover reached more than 52 million USD, up 75% over the same period.
Vietnam's pangasius exports to Brazil reached nearly USD 28 million in the first quarter of 2024, surging by 44% compared to the same period in 2023.
(vasep.com.vn) According to Vinh Long Statistics Department, the whole province currently has 2,119 hectares of aquaculture area, an increase of 1.03% (equivalent to an increase of 21.62 hectares) over the same period last year; Of which the industrial pangasius farming area is 370.8 hectares, an increase of 0.12% or an increase of 0.42 hectares.
(seafood.vasep.com.vn) 2023 was an unsuccessful year not only for Vietnamese but also for Thailand tuna exporters in the Middle East market. Thailand's tuna exports to this market decreased by 21% in value and 27% in volume compared to 2022. Therefore, the Middle East dropped to second position among Thailand's export markets after the US, accounting for 22% of total export turnover in 2023.
Competent ministries, sectors and localities should continue efforts to lift the European Commission’s “yellow card” against the Vietnamese seafood products for illegal, unreported and unregulated (IUU) fishing, as an inspection team of the commission will visit Vietnam soon, Minister of Agriculture and Rural Development Le Minh Hoan.
(seafood.vasep.com.vn) According to data from Vietnam Customs, in March 2024, Vietnamese pangasius export turnover to markets reached 156 million USD, down 14% over the same period. Vietnam pangasius export value in QI/2024 reached 411 million USD, down 3% compared to QI/2023.
(vasep.com.vn) According to data from the Department of Fisheries, as of March 20, 2024, the shrimp farming area reached about 348,670 hectares, including 334,799 hectares of black tiger prawn farming area and 13,871 hectares of white leg shrimp farming area.
(seafood.vasep.com.vn) Vietnam's tuna exports reached around $84 million in March 2024, a 17% rise. Vietnam's total tuna export revenue for the first three months of 2024 was $215 million, up 19% from the same time in 2023 but down 17% from 2022. It is anticipated that tuna exports may miss the billion-dollar mark as in 2022 at this rate and the difficulties the business faces.
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
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
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Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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