AsemconnectVietnam - In the 2023 annual report, Nam Viet - Navico Joint Stock Company (code ANV) said that in 2024 the Company will set a target of profit after tax 8 times higher than in 2023, reaching VND306 billion.

In 2024, Navico sets a target of total revenue of VND5,000 billion, an increase of 13% compared to 2023. But the target profit after tax is nearly 8 times higher, reaching VND306 billion. The company plans to pay dividends from 5 - 10%.
ANV's expectations are very high, but according to the Vietnam Pangasius Association (VINAPA), the pangasius industry has not yet escaped the downward cycle, and it is forecast to take quite a long time to recover when supply - demand reaches equilibrium again.
The current selling price of pangasius is also at a low level, in the Chinese market the average price of pangasius is about 2.09 USD/kg, down 6% over the same period, while the export price to the US market at the end year fluctuated at 2.43 USD/kg, down 18%. In the first 2 months of the year, pangasius prices recovered slightly but turned down in March.
ANV's production goal and strategy is to actively focus on the quality of the production chain in the direction of improving quality, diversifying products, reducing costs, and ensuring the environment; Find new customers and maintain existing customers. At the same time, maintain production capacity and improve aquaculture and processing techniques.
Currently, Navico has guaranteed 100% autonomy in food for farming and 100% of raw fish for processing factories. These include: 10 lines of feed factories with a capacity of more than 1,000 tons of finished products/day; 14 fish farming areas of Nam Viet Joint Stock Company with a total water surface area of 152 hectares; Nearly 600 farming areas of Nam Viet Aquaculture Company Limited - Binh Phu; 4 processing factories with total design capacity of 1,000 tons of raw fish/day.
In 2023, ANV records net revenue of VND4,439 billion and profit after tax of VND39 billion, only a 9% decrease in revenue but a sharp decrease of 94% in profit after tax. Revenue from selling frozen finished products still accounts for the highest proportion in Navico's revenue structure, accounting for 81.75%; Next is fried fish oil products, accounting for 8.81%.
Regarding the 2024 Annual General Meeting of Shareholders, the Company's Board of Directors has agreed to extend the organization until June 30 at the latest, because the organization work has not been completed and more time is needed to carefully prepare documents.
N.Nga
Source: VITIC/Tinnhanhchungkhoan