BSC forecasts that the after-tax profit of a pangasius business will increase more than 5 times in 2022

(seafood.vasep.com.vn) BIDV Securities Company (BSC) forecasts that Nam Viet Joint Stock Company's after-tax profit in 2022 will reach 874 billion VND, 5.8 times higher than the export of pangasius and solar power, both growing at double digits.

BSC recently forecast that the business result of Nam Viet Joint Stock Company (Navico, code: ANV) will continue to be positive thanks to good signals in the US and China markets.

BSC forecasts that Nam Viet's 2022 revenue will reach 4,311 billion VND, up 23% compared to 2021 and after-tax profit of 874 billion VND, 5.8 times higher if the assumption comes true.

Specifically, the pangasius segment grows strongly with the average selling price in 2022 reaching 2.9 USD/kg, helping to increase gross profit margin sharply to 35%.

Navico announced its business situation in April with revenue of 433 billion VND, gross profit of 164 billion VND, profit after tax of 116 billion VND.

Accumulated in the first 4 months, the company's revenue reached 1,644 billion VND. Profit after tax is 323 billion VND, reaching 45% of the whole year target. Gross profit margin improved from 19% to 32% after 4 months.

BSC forecasts that the aftertax profit of a pangasius business will increase more than 5 times in 2022

For the US market, Nam Viet is expected to start producing orders in July and officially export to this market in August. Currently, the company is completing its distribution channel in the US, specifically establishing a subsidiary company. Nam Viet sets a target for the US market's turnover to reach 5-7 million USD/month.

As for the Chinese market, pangasius exports to this market increased sharply in the first months of the year.


Compiled by Tra My


SPECIALIST ON
PANGASIUS MARKET

Ms Ta Ha

Email: taha@vasep.com.vn

Tel: +84.24.3771.5055 (ext. 214)

  • Detail-Right-Top