Planting an additional 2,000 hectares of bananas and 500 hectares of durian
Regarding the accumulated losses, shareholders raised the question "when will it be resolved?". Mr. Doan Nguyen Duc replied: "This has been my biggest concern for many years. My goal is to eliminate the accumulated losses this year. I will find many different measures to achieve this goal. I believe that at the shareholders' meeting next year, shareholders can enjoy the joy of Tet."
Mr. Duc aims to eliminate accumulated losses in 2024
Mr. Duc's answer received a big round of applause from hundreds of shareholders present at the Congress.
According to the financial report, in 2023, revenue from fruits (bananas and durians) reached VND 2,975 billion, accounting for 46.2% of total revenue; gross profit reached VND 1,127 billion, gross profit margin reached 37.9%.
Revenue from pork sales reached VND 1,964 billion, accounting for 30.5% of total revenue, gross profit reached VND 65 billion, gross profit margin reached 3.3%. The reason for the decrease in gross profit margin from pork is because in 2023, the price of live pigs decreased sharply compared to 2022. This is also the general situation of the pig farming industry nationwide. In addition, revenue from selling goods reached VND 1,102 billion and accounted for 17.1% of total revenue and revenue from other services provided reached VND 357 billion and accounted for 5.5% of total revenue.
According to the 2024 plan, the Group will continue to expand durian and banana gardens. Specifically, it will develop an additional 2,000 hectares of bananas to increase the total area from 7,000 hectares to 9,000 hectares; plant an additional 500 hectares of durian, increasing the area from 1,500 hectares to 2,000 hectares.
By 2025, HAGL plans to increase the area of durian to 3,000 hectares and banana to 10,000 hectares. By 2030, the area of banana, durian and other valuable trees will be increased to 30,000 hectares. In parallel with the development of cultivation, HAGL will continue to expand clean land funds, prioritize investment in improving infrastructure, packaging factories... in the direction of applying advanced technology to improve productivity and product quality, while contributing to transforming the labor structure in agriculture.
"Will be surprised about durian sales"
Mr. Duc said: The main consumption market for bananas is still China with a ratio of about 55 - 60%, Japan and Korea have a combined ratio of 40 - 45%. This year, HAGL's goal is to increase the market share of Japan and Korea to 50% because these are two highly stable markets.
Bau Duc plans to increase banana exports to Japan and South Korea because of the high stability of these two markets.
Mr. Duc said that 300 - 400 hectares of durian will be harvested in October - November this year. Most of it is off-season durian, so you can rest assured about the price. "We know that recently off-season durian in the West cost up to 200,000 VND/kg. I believe that at that time, we will have a big surprise in durian revenue," Mr. Duc confidently said.
According to Mr. Duc, with pigs, because the price had not improved by the end of last year, the company had to be cautious. Up to now, the price is very good and the company is increasing the herd. Profit will only be made at the end of the year and if the price trend is as good as it is now, the profit will fall mainly in 2025.
As of December 31, 2023, HAGL's total liabilities were VND 14,226 billion, down VND 337 billion, equivalent to 2.6% compared to the end of 2022. HAGL has fully paid off the loan at Vietnam Export Import Commercial Joint Stock Bank.
Source: https://thanhnien.vn/muc-tieu-cua-hoang-anh-gia-lai-la-xoa-lo-luy-ke-trong-nam-nay-185240510115327607.htm
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