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) Sao Ta (FMC - HoSE), a key subsidiary of PAN Group, has announced impressive business results for February. The company's shrimp production reached 1,913 tons, a 106% increase compared to the same period last year, while agricultural product production reached 67 tons, up 6%.
(seafood.vasep.com.vn) The tuna export market of Vietnam in the first month of 2025 has seen notable fluctuations. Exports to most major markets have decreased compared to the same period in 2024.
The Seafood Expo Global is the largest seafood industry event in the world, truly becoming a professional playground and a strong foundation for connecting the international seafood community. The Seafood Expo Global (SEG) 2025 will take place from May 6 to May 8, 2025 in Barcelona, promising to be an important platform for the global seafood community to meet, trade, and seek business opportunities in seafood industry.
(seafood.vasep.com.vn) According to data from Vietnam Customs, Vietnam’s pangasius exports in January 2025 reached over USD 133 million, marking a 19% decline compared to the same period last year. Notably, the ranking of the top pangasius import markets saw significant adjustments.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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