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) 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.
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