Greenfeed Vietnam announces sustainable profit growth results

Greenfeed Vietnam has been ranked in the top five animal feed producers of Vietnam. The company currently owns the G Kitchen food brand. Reportedly, Greenfeed Vietnam's post-tax profit in 2023 was estimated at 438 billion Vietnamese dong, which is an increase of 20 billion Vietnamese dong (4.9%) compared to that of 2022.

These financial ratios were highlighted in Greenfeed Vietnam Joint Stock Company's periodic disclosure sent to the Hanoi Stock Exchange (HNX).

This marks the second consecutive year of sustainable profit growth for the company. Namely, Greenfeed Vietnam's post-tax profit in 2022 was estimated at nearly 417 billion Vietnamese dong.

Financial reports indicate that by the end of 2023, Greenfeed's total equity increased by over 373 billion dong (10.4%) compared to the end of 2022, reaching over 3.967 trillion Vietnamese dong. Greenfeed's debt-to-equity ratio of decreased significantly from 1.71 to 1.38, which corresponds to a total debt amount of 5.469 trillion Vietnamese dong, a decrease of 11% compared to the end of 2022.

Notably, the company's total assets include outstanding bonds with a total value of 1 trillion Vietnamese dong. These outstanding bonds represent an investment by the International Finance Corporation (IFC), a member of the World Bank, in Greenfeed. To date, Greenfeed's bond-to-equity ratio has decreased from 0.28 to 0.25 by the end of 2023.

Immediately following the IFC investment, Greenfeed Vietnam expanded the scale of its pig breeding and commercial pig production activities. On the other hand, the company developed its animal feed, slaughter, and food processing operations in Vietnam. Following the logo change and brand repositioning event in 2020, Greenfeed Vietnam announced its strategic vision and growth ambitions under the 3F+ model (a closed-loop food supply chain from farm to table).

In 2018, Greenfeed Vietnam aimed to complete its supply chain by introducing the G meat and pork products brand. Susbsequently, its products were distributed through major supermarket chains including Co.op Mart, Bach Hoa Xanh, Tops Market, Kingfoodmart, as well as a network of retail stores under the G Kitchen brand.

In 2023, Greenfeed celebrated its 20th anniversary and achieved recognition by being ranked fifth in the Top 10 prestigious animal feed producers according to VNR - Vietnam Report. With extensive experience in the animal feed industry, the company owns a system of 10 factories across Vietnam, Cambodia, Laos, and Myanmar, with an annual production capacity of over 2 million tons.

Greenfeed Vietnam has been honored as an "Outstanding Asian Enterprise" for five consecutive years. Notably, Greenfeed was the first company in the Agriculture - Food sector to win this category at the APEA 2023 awards ceremony.