In particular, revenue in most markets recorded positive growth compared to the same period in 2023. Specifically, revenue in the Vietnamese market increased by 47%, reaching 329 billion VND; the European market increased by 21%, reaching 172 billion VND; the Chinese market increased by 12%, reaching 104 billion VND; and other markets increased by 26%, reaching 154 billion VND. In contrast, revenue from the US market decreased by 0.3% to 372 billion VND.
In terms of structure, revenue from pangasius products accounted for 53% of the total revenue in May 2024 of Vinh Hoan Corp, reaching 598 billion VND, up 1% over the same period in 2023. Followed by revenue from other products (accounting for 19%), reaching 217 billion VND, an increase of 98%; by-products (accounting for 14.5%), reaching 164 billion VND, an increase of 15%...
This year, Vinh Hoan Corp plans its business with two scenarios. For the basic scenario, the company sets a revenue target of 10,700 billion VND, an increase of 6.6% compared to the implementation level in 2023. However, profit after tax is expected to decrease by 12.9%, only reaching 800 billion VND.
For the high scenario, Vinh Hoan Corp targets revenue of 11,500 billion VND and profit after tax of 1,000 billion VND, an increase of 14.6% and 8.8%, respectively, compared to the implementation level 2023.
In the first quarter of 2024, due to pressure on input costs and falling selling prices, Vinh Hoan Corp gross profit margin decreased by 800 basis points, to 9.3%. At the same time, profit after tax decreased by 16%, to only 189 billion VND.
According to the assessment of some financial institutions, the business results of Vinh Hoan Corp have "created a bottom" and are expected to recover more clearly in the second half of this year, especially when the US market is recording a series of positive signals.
In the two main export markets, the US and Europe, Vietnamese pangasius is advantageous when the US has banned importing seafood from Russia and reduced anti-dumping duties on seafood. Vietnamese pangasius products; Europe increased the tax applied to fille pollock (a substitute for fillet pangasius) from 0% to 13.7%. Thereby, it creates advantages for Vietnamese pangasius when exporting to these markets.
In addition to demand recovery, the driving force to increase export pangasius prices also comes from the shortage of raw fish supply in the near future.
This year's net revenue of Vinh Hoan Seafood is expected to increase by 13.8% compared to 2023, reaching 11,426 billion VND, and net profit will increase by 17,000 VND, reaching 1,117 billion VND.
(seafood.vasep.com.vn) China and the US are the two largest whitefish import markets in the world. Vietnam is the second largest supplier for both markets (mainly supplying pangasius). Frozen pangasius fillets are still the main product imported from Vietnam by these two countries.
(seafood.vasep.com.vn) The “Bien Bach Dong Commune Shrimp-Rice Project” in Ca Mau province was granted the second BAP (Best Aquaculture Practices of the Global Aquaculture Alliance) certificate for shrimp products in the shrimp-rice specialized area in Thoi Binh district, Ca Mau province.
(seafood.vasep.com.vn)The red and yellow tilapia prices in An Giang have increased sharply, reaching a new record. Recently, traders in the provinces are purchasing red tilapia and tilapia at 50,000–51,000 VND/kg, the highest price ever. With this price, fish are exported to rafts, and farmers earn a 9,000–10,000 VND/kg profit.
(seafood.vasep.com.vn) In July 2024, Vietnam's tuna exports to the EU showed signs of decline compared to the same period, down 14%. In the first half of August, although Vietnam's tuna exports to the EU increased, exports of canned tuna continued to decrease sharply.
(seafood.vasep.com.vn) In July 2024, pangasius exports to the US continued to grow impressively. According to Vietnam Customs, there were nearly US$31 million pangasius exported to the US in July, up 69% over the same period last year. Cumulative pangasius exports to the US in the first 7 months reached more than US$190 million, up 20%.
(seafood.vasep.com.vn) According to the Department of Agriculture and Rural Development of Tra Vinh province, farmers in coastal areas of Cau Ngang, Tra Cu, Duyen Hai districts and Duyen Hai town have now cultivated over 1,800 hectares of whiteleg shrimp under a high-tech super-intensive model (high density), which is double the same period in 2023.
(seafood.vasep.com.vn) With the signs of recovery in pangasius exports, the increase in farming area and output, An Giang's fisheries sector has been actively supporting farmers and businesses to boost production, processing, and consumption in the last months of the year.
(seafood.vasep.com.vn) In July 2024, Vietnam's tuna exports continued to maintain growth momentum over the same period, increasing by 14% to nearly 87 million USD. However, the export growth rate is slowing down a lot compared to previous months. Cumulatively, in the first 7 months of the year, tuna export turnover reached 558 million USD, an increase of 22%.
(seafood.vasep.com.vn) With the goal of bringing exported seafood products to Vietnamese consumers, Vietfish 2024 organized by VASEP has, for the first time, focused on a dedicated area for showcasing seafood products for the domestic market. This event provides an opportunity for local consumers to access high-quality seafood products that meet international standards at reasonable prices, products that Vietnam is currently exporting to 170 countries.
(vasep.com.vn) According to the Binh Dinh Statistics Office, the total fishery production in July 2024 was estimated at 26,226.7 tons, a 2.2% increase (574 tons) compared to the same period last year. Cumulatively, for the first seven months of 2024, the total fishery production was estimated at 172,723.1 tons, a 2.9% increase (4,786.4 tons) year-on-year.
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
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn
