AsemconnectVietnam - Hoang Anh Gia Lai Joint Stock Company (HAGL, code HAG) expects revenue in 2025 to reach more than VND7,600 billion, reaching 109% of the plan, but profit after corporate income tax is estimated to reach VND2,800 billion, reaching 180% of the yearly plan.

Hoang Anh Gia Lai Joint Stock Company (HAGL, code HAG) expects revenue in 2025 to reach more than VND7,600 billion VND, reaching 109% of the plan, but profit after corporate income tax is estimated to reach VND2,800 billion, reaching 180% of the yearly plan. EPS (basic earnings/share) is estimated to reach 2,200 VND/share.
Profit increased in the fourth quarter thanks to core business activities and cost recovery. In the first 9 months of the year, Hoang Anh Gia Lai recorded a profit after tax of VND1,312 billion, the profit after tax belonging to the parent company was VND1,250 billion. In the last quarter of the year, HAGL is expected to record an extraordinary profit of approximately VND1,000 billion due to the reversal of provisioned interest expenses. This reversed interest is part of the interest on a group B bond lot, which was bought back by a group of investors from BIDV Bank through auction, and then converted into HAG shares at the end of the third quarter.
The main business continued to contribute to profits in the fourth quarter when bananas, the main crop with 7,000 hectares, contributed the majority of revenue and profit for Hoang Anh Gia Lai. Durian trees, in 2025, contributed an initial revenue of more than VND300 billion and are expected to increase sharply in 2026. Recently, Hoang Anh Gia Lai and OCBS Securities Company organized a visit to large farms and processing factories invested by HAGL in Gia Lai (Vietnam), Laos and Cambodia with the participation of more than 50 analysts and stock brokers from leading securities companies, investment funds and investment organizations providing consulting and asset management services, large in the market. Sharing with financial analysts, Mr. Doan Nguyen Duc, Chairman of the Board of Directors of HAGL, said that since 2016, HAGL has quietly and resolutely restructured its debt. As a result, after 9 years, especially in 2025, HAGL's financial health has changed completely. Specifically, debt has decreased sharply from VND25,000 billion and lost liquidity, so far the debt to credit institutions has decreased to more than VND6,400 billion. The financial indicators are healthy with the debt/charter capital ratio of 0.51 times; debt/equity is 0.48 times; debt/total assets is 0.28 times.
“Total assets of VND27,000 billion are book value, land has not been revalued. In the future, if financial regulations allow land revalued, HAGL with 20,000 hectares of land is estimated to have assets of over VND60,000 billion. But the most important thing for me is that HAGL is an agricultural company, not only has a low debt ratio but also has a stable cash flow thanks to bananas exported regularly every day”, Mr. Duc emphasized.
Mr. Bui Van Huy, FIDT representative participating in the HAGL project field trip, said that he is interested in the opportunity to invest in bonds or debt instruments if the enterprise issues them in the future because HAGL's current financial situation is quite stable. During this field trip to HAGL's farm, some major investors who went to the field a year ago said that the durian trees have grown visibly, the irrigation system and farm protection fences have been invested in a systematic way. The vacant land area last year is now covered with mulberry trees on over 1,500 hectares, and coffee seedlings have been planted on over 3,500 hectares. Banana packaging factories operate more professionally with many different branded packaging models, showing that they have new customers. HAGL's capacity to implement projects, plant trees and take care of harvests is increasingly improved with the contracting mechanism, the farm monitoring and supervision system, and technical management of crops by Philippine experts with banana trees, Thai experts with durian trees and the Western Highlands Agriculture and Forestry Science Institute (WASI) with coffee trees.
Currently, HAGL has completed planting 7,000 hectares of banana trees, 2,000 hectares of durian trees, and in 2025, planted an additional 1,500 hectares of mulberry trees and 3,500 hectares of coffee trees. According to the plan, it will invest in planting an additional 7,000 hectares of coffee trees and 1,000 hectares of durian trees, completing 20,000 hectares of crops. According to Mr. Duc, the increase in investment in crop areas will mainly come from annual profits retained for investment, without the need to use borrowed capital.
HAGL develops more land funds by buying back or applying for land grants. By the end of 2026, HAGL is expected to have 30,000 hectares of land for planting trees with legal completion.
“If 8 years ago I faced great pressure from debt, now the debt pressure is gone. HAGL focuses entirely on investing in planting, caring for, and harvesting to create cash flow and profits for shareholders, continuing to reduce debt,” Mr. Duc emphasized.
N.Nga
Source: VITIC/Tinnhanhchungkhoan