Livestock companies flourish amid African swine fever crisis

Livestock companies flourish amid African swine fever crisis

The impressive earnings reports from Dabaco, BAF and Masan highlight both the challenges and opportunities present in the country's agricultural landscape.

A pig farm of Dabaco. Livestock farming has contributed to the company's growth in the first half of the year. — Photo dabaco.com.vn

Several Vietnamese livestock companies have reported significant profits in the first half of 2025, despite the ongoing challenges posed by the African Swine Fever (ASF) outbreak.

ASF has wreaked havoc on the industry. As of July 22, it has affected over 42,000 pigs nationwide and led to the culling of more than 43,000 animals, according to the Ministry of Agriculture and Environment.

Nevertheless, Dabaco Group has emerged as a leader in this sector.

In its consolidated financial report for the second quarter, the company posted a net revenue of over VNĐ3.8 trillion (US$145 million), up 20 per cent year-on-year. 

Financial revenue for the quarter rose to VNĐ21 billion, 4.5 times higher than the previous year, while financial expenses decreased by 18 per cent to VNĐ66 billion. 

As a result, Dabaco reported a net profit of VNĐ507 billion, 3.5 times greater than last year, making it the second consecutive quarter with profits exceeding VNĐ500 billion.

Dabaco said that all of its business segments showed growth in the second quarter, including animal feed, concentrated livestock farming and vegetable oil. Reduced breeding costs significantly contributed to the strong business performance.

For the first half of the year, the company recorded over VNĐ7.4 trillion in net revenue, up 15 per cent year-on-year, and a net profit exceeding VNĐ1 trillion, nearly 4.7 times higher. 

Compared to the revenue target set at the 2025 shareholders' meeting, Dabaco has achieved 26 per cent of its goal while already surpassing the annual profit after tax plan.

Similarly, BAF Vietnam Agriculture JSC, known for its vegetarian pig brand, reported nearly VNĐ1.4 trillion in net revenue for the second quarter. During this period, pig sales reached over 175,000 heads, primarily market hogs, representing a 16 per cent increase.

Financial revenue during the quarter was nearly VNĐ5.8 billion, 2.5 times that of the previous year. As a result, BAF achieved a net profit of VNĐ195 billion, 5.6 times higher than last year, marking the highest profit recorded since its listing. Notably, all profits were derived from livestock operations.

For the first six months of the year, BAF sold approximately 330,000 pigs, generating over VNĐ2.5 trillion in revenue, entirely from livestock. 

Its profit after tax reached VNĐ329.7 billion, 2.1 times higher than the previous year. 

Compared to the plan approved at the annual shareholders' meeting in 2025, BAF has achieved about 44 per cent of its revenue target and nearly 52 per cent of its annual profit after tax goal.

BAF attributed its success to continuous herd expansion over the past period, currently boasting a total herd of over 800,000 heads, double the previous year's figure. 

The company actively plans to expand its operations, intending to launch at least eight high-tech farms with a capacity of approximately 17,500 sows and 156,000 pigs by 2025.

To date, BAF has successfully operated 43 high-tech farms and two animal feed factories with a combined capacity of 460,000 tonnes per year and expanded the SibaFood and Meat Shop retail chain.

A pig farm of Dabaco. Livestock farming has contributed to the company's growth in the first half of the year. — Photo dabaco.com.vn

The consolidated financial report of Masan Group showed that net profit after tax for Q2 reached VNĐ1.6 trillion, while for the first half of the year, it reached VNĐ2.6 trillion, nearly double the amount from the same period last year and exceeding 50 per cent of the annual target.

Notably, this growth primarily stemmed from improved profitability at WinCommerce and Masan MEATLife. 

Masan MEATLife recorded revenue of VNĐ2.34 trillion, an increase of 31 per cent year-on-year, driven by growth in two segments: livestock (up 66 per cent) and meat (up 21 per cent). The company's net profit for Q2 was VNĐ249 billion.

Meanwhile, WinCommerce achieved revenue of VNĐ9.13 trillion, up over 16 per cent, with a net profit of VNĐ10 billion. This marks the fourth consecutive quarter of profitability for WinCommerce, thanks to effective operations and an efficient expansion strategy.

In the first half of 2025, it recorded revenue of over VNĐ17.9 trillion, a 13 per cent increase, and a net profit of VNĐ68 billion.

By the end of the second quarter, with 318 new stores opened, WinCommerce has reached 80 per cent of its new opening target for the year.

On the stock market, shares of all three companies performed positively since the beginning of the year.

Dabaco's shares are currently traded at VNĐ33,850 per share, up nearly 50 per cent from the beginning of 2025.

Shares of Masan increased slightly 4.2 per cent to VNĐ72,500, while BAF soared 28.5 per cent to VNĐ34,700.

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