At the end of the fourth quarter of 2024, Dabaco Vietnam Group Joint Stock Company and BaF Vietnam Agriculture Joint Stock Company both reported impressive profits compared to the fourth quarter of 2023. According to these businesses, such profits were partly due to the high price of live pigs.
Profits increased by 685% due to... high pork prices
According to the consolidated financial report for the fourth quarter of 2024 of Dabaco Vietnam Group Joint Stock Company (HoSE: DBC) announced on January 24, 2025, Dabaco Vietnam recorded net revenue of more than VND 3,600 billion, an increase of 38% over the same period in 2023 (reaching over VND 2,600 billion). As a result, the profit after tax in the fourth quarter was over VND 232 billion, 37 times higher than the same period last year.
In 2024, Dabaco Vietnam recorded net revenue of VND 13,574 billion, an increase of 22% compared to 2023. In the whole year of 2024, Mr. Nguyen Nhu So's enterprise still recorded after-tax profit of nearly VND 769 billion, 31 times higher than in 2023 (only VND 23 billion).
Explaining the profit difference, Dabaco Vietnam said that in the fourth quarter of 2024, the prices of domestic and imported raw materials for animal feed production were stable, diseases in livestock and poultry were controlled, farmers promoted herd restoration, and demand for animal feed increased.
Besides, the price of live pigs remained high in the last months of the year, accordingly the production and business results of livestock farming units were better than the same period last year.
BAF Animal Feed Company in Tay Ninh.
As for BaF Vietnam Agricultural Joint Stock Company (HoSE: BAF), it also recorded high profits. Announcing its Q4/2024 business results, BaF Vietnam achieved over VND 128 billion in after-tax profit, an increase of 552% compared to Q4/2023 (reaching over VND 19 billion).
In 2024, the company's net revenue is approximately VND 6,000 billion, an increase of nearly 13% compared to 2023 (reaching over VND 5,300 billion). Notably, the gross profit margin skyrocketed to 10.8%, helping after-tax profit reach over VND 395 billion, equivalent to an increase of 684% compared to 2023.
According to Ms. Bui Huong Giang - General Director of BaF Vietnam Agricultural Joint Stock Company, the after-tax profit in the fourth quarter of 2024 improved significantly compared to the fourth quarter of 2023 due to the high price of live pigs in 2024 and maintained above 60,000 VND/kg, at times approaching 70,000 VND/kg, while the company's pig output was nearly double that of 2023.
According to Ms. Giang, in the fourth quarter of 2024, although the livestock industry continues to face a tense epidemic situation and complicated storms and floods... BaF has implemented timely control measures to help minimize damage.
Besides, the price of input materials for animal feed production decreases and remains low, reducing capital costs and increasing livestock farming efficiency.
In addition, the divestment of a land lot of BaF on Mai Chi Tho Street (Thu Duc City) also contributed to a significant increase in profits. This land lot was previously planned to develop an office building, but the company found a more favorable location and decided to sell the asset, recording a positive profit.
Pig price forecast to increase by 3-5%
The Ministry of Agriculture and Rural Development has just sent a report to the Ministry of Finance to serve the meeting of the Price Management Steering Committee. According to the Ministry of Agriculture and Rural Development, the total pig herd in the country in 2024 is 31.08 million, an increase of about 3.3% compared to 2023. The output of live pigs is 5.16 million tons, an increase of 6.6%.
The price of live pigs for slaughter in the first phase of 2024 will be stable at around 52,000-60,000 VND/kg, starting to increase from May and June 2024, increasing sharply in June (the general trend of most other countries in the region and the world), at times the price of live pigs will rise above 70,000 VND/kg, then decrease to 64,000-66,000 VND/kg in July and August. By September 2024, the price will increase again to 2,000-3,000 VND/kg.
Entering January 2025, the average selling price at private farms nationwide fluctuated from 65,000-67,000 VND/kg and the price at farms of large companies was 1,000-2,000 VND/kg higher; along with the decrease in the price of feed ingredients and finished feed, farmers are making a profit, creating motivation for farmers to restore their herds.
The Ministry of Agriculture and Rural Development forecasts that in the first months of 2025, especially during the holidays and after the Lunar New Year 2025, the price of live pigs in all regions will continue to increase by about 3-5% compared to the price at the end of 2024.
Source: https://danviet.vn/hai-ong-lon-nganh-chan-nuoi-bao-lai-khung-nho-gia-lon-tang-cao-dabaco-gap-31-lan-baf-viet-nam-tang-684-20250212213830977.htm
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