Set this year's net profit target to increase eight times
According to the 2024 Annual General Meeting of Shareholders meeting documents scheduled to take place on June 29, NAVICO (Nam Viet Corporation, stock code ANV-HoSE) sets a revenue target this year, it will reach 5,000 billion VND, an increase of 13% compared to the level realized in 2023. Meanwhile, profit after tax is expected to be 8 times higher, reaching 306 billion VND.
In 2023, Navico's net profit reached 39 billion VND, the lowest level in 7 years, completing 21% of the set profit target. Mr. Doan Toi, General Director of Navico, said that although the company's number of orders is not small, profits recorded less positive results due to high-cost prices.
Currently, many financial institutions assess that this year's business prospects for Nam Viet Seafood will be more positive when pangasius export prices are expected to recover in the context of increasing demand and decreasing supply.
Notably, in the US market, Navico continues to be an enterprise that enjoys anti-dumping duties of 0% (according to POR 19). In addition, Navico's leadership said that the company has successfully cooperated with large seafood distributors and reconnected with old customers thanks to its history of exporting to the US in the previous period.
Navico's customer base is mainly existing customers of the two leading exporters to the US, Bien Dong Seafood and Vinh Hoan Joint Stock Company (stock code VHC), but there is a need for partial diversification suppliers with more competitive prices.
For the Chinese market, Nam Viet Seafood is also recording many possible results thanks to expanding new customer files in Beijing and Guangzhou, in addition to the traditional area of Shanghai. At the same time, after market research, Navico has expanded the product line of spiced butterfly pangasius, meeting the high demand in China.
In addition, with the advantage of 100% autonomy in raw fish, the company has resolved the shortage of large-sized pangasius (1.5–2 kg); this is also the most popular fish size in China.
In the domestic market, after the cooperation deal with Bach Hoa Xanh in March 2023, Nam Viet Seafood product lines were considered to have higher recognition and are easily accessible to domestic consumers.
According to a recent forecast by Vietcombank Securities, revenue from the domestic market of Nam Viet Seafood this year could increase by up to 63% compared to 2023.
Maintaining the position of the second-largest pangasius processing enterprise in the world
The Board of Directors of Navico said that the company is currently a pangasius production and export enterprise with the second largest closed production chain in the world, including 250 hectares of traditional farming areas, helping to supply up to 120,000 tons of raw fish per year, and 600 hectares of high-tech farming areas invested since 2018, helping to provide up to 250,000 tons of raw fish per year.
Also, according to the leadership of Navico, the company owns 20,000 pairs of broodstock capable of producing 14 billion fingerlings. With a feed factory with a designed capacity of 800,000 tons per year, Nam Viet Seafood is capable of providing 100% of the feed for the company's 150-hectare fish breeding area.
At the same time, the company is also operating four seafood processing factories with a total processing capacity of up to 1,200 tons of raw fish per day and has fully achieved ISO, Global GAP, HACCP, IFS, BRC, GMP, and HALAL.
At this year's Congress, Navico is expected to submit to shareholders a plan to increase capital by issuing 133.1 million shares to existing shareholders at a ratio of 1:1, equivalent to a shareholder owning 1 share. shares will receive one new share.
This plan was approved by Nam Viet Seafood shareholders at the 2023 Annual General Meeting of Shareholders. However, because the company has not yet implemented it, it continues to be presented at this year's general meeting.
If this offering is successful, Nam Viet Seafood will earn about 1,331 billion VND. Therefore, increasing the company's charter capital to VND 2,666 billion would double the current level. At the same time, it helped Navico become the pangasius enterprise with the largest charter capital on the stock market.
(seafood.vasep.com.vn) The year 2025 marked a pivotal milestone for Vietnam’s seafood industry in its restructuring process toward sustainability, transparency, and higher value creation, amid continued uncertainties in the global economic and trade environment. Prolonged inflation in major economies, the rising trend of trade protectionism, and increasingly stringent requirements related to environmental standards, traceability, and social responsibility have posed significant challenges to seafood production and exports. Nevertheless, overcoming these pressures, Vietnam’s seafood sector has gradually demonstrated its adaptability, maintained growth momentum, and laid an important foundation for the next stage of development.
(seafood.vasep.com.vn) Amid the increasingly evident impacts of drought and saltwater intrusion, the shrimp-rice production model in Ca Mau province continues to prove itself as a viable direction, contributing to higher farmer incomes, improved soil conditions and the promotion of ecological and sustainable agricultural development.
(seafood.vasep.com.vn) The management of fishing vessels, monitoring of fishing activities, and handling of violations in the fisheries sector in Lam Dong province have continued to be implemented in a synchronized and stringent manner, contributing to raising awareness of legal compliance among fishermen and aiming to end illegal, unreported and unregulated (IUU) fishing.
(seafood.vasep.com.vn) Can Tho’s fishery industry sustained steady growth in 2025 with total aquatic and marine output reaching nearly 783,000 tons, fulfilling 100% of the annual target. Aquaculture, capture fisheries and fishing fleet management were further strengthened, aiming for sustainable development in the coming years.
(seafood.vasep.com.vn) In 2025, Vietnam’s pangasius export turnover reached nearly USD 2.2 billion, up 8% year-on-year. This result indicates that pangasius exports maintained their growth momentum despite significant volatility in the global market environment. In December 2025, pangasius export value reached USD 200 million, up 10% compared to December 2024. This solid performance in the final month of the year reflects increased import demand for consumption and inventory replenishment in key markets.
(seafood.vasep.com.vn) In 2025, Vietnam’s tuna exports to Spain experienced significant fluctuations. According to Vietnam Customs, during the first 11 months of 2025, export turnover for the first 11 months of the year edged up by 0.3% year-on-year, reaching nearly $15 million.
(seafood.vasep.com.vn) Deputy Prime Minister Bui Thanh Son has signed Decision No. 16/QD-TTg, dated January 5, 2026, approving the implementation plan for the Vietnam-Israel Free Trade Agreement (VIFTA). Under the plan, in the coming period, ministries, ministerial-level agencies, government-affiliated entities and People’s Committees of provinces and centrally-run cities must institutionalize and execute tasks focused on the dissemination of information regarding VIFTA and the Israeli market; legislative and institutional development, as well as enhancing competitiveness and human resource growth...
(seafood.vasep.com.vn) Beyond achieving double-digit growth, Vietnam’s fish cake and surimi exports are showing a notable year-end "inflection point": the EU his accelerating with nearly twofold growth, China & Hong Kong are rising sharply, while the largest market, South Korea, signaled a slowdown in November. According to Vietnam Customs data, export turnover of fish cake and surimi reached $327 million in the first 11 months of 2025, up 22% year-on-year; November 2025 alone accounted for $35 million, marking a 5% increase. This serves as a critical foundation for exporters to reassess market structures and competitive intensity while finalizing order strategies for 2026.
(seafood.vasep.com.vn) Ca Mau, widely regarded as the nation’s “shrimp capital”, continued its strong performance in 2025 as shrimp output reached nearly 600,000 tons, maintaining its position as Vietnam’s leading shrimp-producing locality.
(seafood.vasep.com.vn) On December 29, 2025, at the 2025 Pangasius Industry Review Conference held in Can Tho City, the Vietnam Pangasius Association announced that fingerling prices have surged to record levels due to acute supply shortages.
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