Vĩnh Hoàn Joint Stock Company (HoSE: VHC) recently published its financial report for Q4 2024, showing clear signs of recovery and marking the return of growth momentum after a challenging period for the seafood industry.
In the last quarter of 2024, Vĩnh Hoàn reported a revenue of VND 3,205 billion, up 34% compared to the same period last year. Additionally, the company also recorded VND 148 billion in financial income, a 87% increase.
On the other hand, Vĩnh Hoàn's expenses in Q4 2024 saw a significant rise compared to Q4 2023. Specifically, financial expenses reached VND 49 billion, and administrative expenses amounted to VND 137 billion, increasing by 14% and 47%, respectively, compared to the previous quarter.
After deducting these expenses, Vĩnh Hoàn, the largest pangasius exporter, reported a profit of VND 440 billion, a 4.8-fold increase compared to the same period last year. This is the highest profit the company has seen in the past six quarters. Explaining the profit increase, the company stated that the growth was due to improved prices of pangasius products and higher production volume.
For the whole year of 2024, Vĩnh Hoàn recorded a revenue of VND 12,535 billion and an after-tax profit of VND 1,310 billion, representing increases of 25% and 34%, respectively, compared to 2023.
In 2024, Vĩnh Hoàn set two business scenarios: a basic scenario and an optimistic scenario. For the basic scenario, Vĩnh Hoàn aimed for revenue of VND 10,700 billion and an after-tax profit for the parent company of VND 800 billion. In the optimistic scenario, the company expected revenue of VND 11,500 billion and after-tax profit of VND 1,000 billion.
Thus, by the end of 2024, Vĩnh Hoàn had exceeded its profit targets for both business scenarios.
Regarding the company's business situation, as of December 31, 2024, Vĩnh Hoàn's total assets reached VND 12,249 billion, a 3% increase compared to the beginning of the year. Of this, cash and cash equivalents increased 2.3 times to VND 570 billion.
Additionally, the company's term deposits reached VND 2,220 billion, an increase of 15% compared to the beginning of the year. By the end of 2024, Vĩnh Hoàn's inventory value stood at VND 2,911 billion, a 22% decrease compared to the start of the period.
As for the capital structure, Vĩnh Hoàn's liabilities slightly decreased to VND 3,247 billion. Although short-term loans increased by 5%, from VND 2,157 billion to VND 2,277 billion, the company no longer had any long-term loans, whereas it had over VND 101 billion at the beginning of the year.
On the market front, the Vietnam Association of Seafood Exporters and Producers (VASEP) reported that pangasius prices in Vietnam have surged at the beginning of 2025 due to limited supply.
Currently, pangasius prices are at their highest level in the past three years. Specifically, pangasius weighing more than 1.2 kg reached VND 32,440 per kg, the highest recorded since 2022.
VASEP predicts that 2025 will be a year of new milestones for pangasius exports. Exports to the United States will be particularly favorable, as on January 17, 2025, Vietnam and the United States signed a bilateral agreement to remove the anti-dumping tax on pangasius fillets exported from Vietnam.
As a result, Vĩnh Hoàn has been removed from the scope of the anti-dumping tax on pangasius and basa exports to the United States. This agreement to resolve the anti-dumping tax dispute opens up significant opportunities for Vĩnh Hoàn and Vietnam's pangasius industry, helping to expand exports to the U.S. market with high-quality and sustainable products.
(vasep.com.vn) The global tilapia market continues to grow, creating significant opportunities for countries with strengths in aquaculture, processing, and exports. Against this backdrop, Vietnam’s tilapia industry is gradually developing toward higher quality, greater product diversification, and broader market reach. At Vietfish 2026, the Vietnam Association of Seafood Exporters and Producers (VASEP), together with the VASEP Tilapia Producers and Exporters Club, will host a joint booth to promote the image and potential of Vietnamese tilapia to domestic and international buyers.
(seafood.vasep.com.vn) Vietnam’s seafood exports are heading towards $12 billion this year, potentially the highest level on record. Yet one of the country’s export strengths is facing a growing list of challenges.
(seafood.vasep.com.vn) The first six months of 2026 indicate that Vietnam’s tilapia industry is entering a new phase of development, with strong export growth but also greater demands for production scale, quality and international competitiveness.
(seafood.vasep.com.vn) Vietfish 2026, the Vietnam International Seafood Exhibition, will officially take place from 19–21 August 2026 in Ho Chi Minh City. As Vietnam’s largest annual seafood trade event, organized by the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietfish 2026 will once again bring together leading seafood companies, industry experts, and international partners from across the global seafood value chain.
(seafood.vasep.com.vn) Vietnam’s seafood exports reached USD 1.1 billion in July 2026, up 4.8% compared to the same period in 2025. Cumulative exports in the first seven months of the year totaled nearly USD 6.86 billion, an increase of 11.5% year-on-year. Exceeding the USD 1 billion mark in July further reinforces the prospect that Vietnam’s seafood exports could surpass USD 12 billion in 2026. However, the July figures also send a clear signal that the most favorable growth period may have passed: overall export growth slowed to just 4.8%, pangasius exports fell 6.1%, tuna exports were virtually flat, while exports to the EU, South Korea, and the Middle East all recorded double-digit declines.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition (Vietfish 2026), the seminar "Global Seafood Market and the Future Workforce: Trends, Opportunities, and Sustainable Development Pathways for Vietnam's Seafood Industry" will take place from 2:00 p.m. to 4:15 p.m. on August 19, 2026, at Convention Room B, Level 2, SECC, Ho Chi Minh City. This is the first of five specialized seminars at Vietfish 2026, focusing on key issues that are shaping the long-term development of Vietnam's seafood industry.
(seafood.vasep.com.vn) Vietnamese seafood exports recorded impressive growth, generating nearly 6 billion USD in revenue during the first six months of the year, up 13% compared with the same period last year.
(seafood.vasep.com.vn) Fishermen in Ha Tinh are gradually overcoming difficulties to maintain the efficiency of seafood exploitation. In the first six months of 2026, the entire province achieved a production of more than 23,000 tons of seafood, worth more than 1,200 billion VND.
(seafood.vasep.com.vn) June 2026 brought encouraging signs for Vietnam's tuna exports, with export value rising 20% year-on-year to nearly USD 72 million. However, this increase has yet to offset the prolonged slowdown seen in key markets such as the European Union (EU), where import demand remains weak. The outlook for the second half of the year is expected to become more challenging as freight rates continue to climb.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition (Vietfish 2026), the Vietnam Association of Seafood Exporters and Producers (VASEP), in collaboration with the Agency for Domestic Market Management and Development under the Ministry of Industry and Trade, will organize the Domestic Seafood Supply–Demand Matching Program on the morning of August 20, 2026, at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City. The program aims to foster direct business connections between Vietnamese seafood producers and processors and domestic distributors, retailers, and foodservice channels.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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