Vietnam livestock companies log strong profits in Q3

Vietnam’s livestock industry is enjoying a banner year, with several listed producers posting sharp profit gains in Q3, buoyed by stable biosecure farming operations and recovering pork demand ahead of the year-end festive season.

Among the most impressive performers is Masan MeatLife JSC (UPCoM: MML), which reported revenue of VND2.38 trillion ($90.44 million) in the quarter, up 23% year-on-year, with after-tax profit surging 5.2 times to VND101 billion ($3.84 million).

According to the company’s leadership, growth was recorded across all business segments, including chilled meat, processed meat, and farming, driving double-digit expansion.

In addition, optimized cost control, particularly in production, helped boost gross profit by VND138 billion ($5.24 million) compared to the same period last year.

For the first nine months of 2025, Masan MeatLife’s revenue reached VND6.79 trillion ($258 million), up 24.7% year-on-year, while after-tax profit stood at VND466 billion ($17.7 million), representing a skyrocketing 888% surge.

Another major industry player, Dabaco Group JSC (HoSE: DBC), also posted solid results with Q3 net profit of VND343 billion ($13 million), up 10% from a year earlier.

Cumulatively, Dabaco earned nearly VND1.36 trillion ($51.68 million) in after-tax profit in the first nine months, 2.5 times higher than the same period last year, mainly driven by strong performances in the first two quarters. With this result, the company has already surpassed its full-year profit target.

Meanwhile, Hoa Phat Group JSC (HoSE: HPG) reported Q3 revenue from its agriculture segment of over VND6.26 trillion ($237.86 million), and after-tax profit of VND1.3 trillion ($49.4 million), up 28% and 88% year-on-year, respectively.

The group’s agriculture operations are managed by Hoa Phat Agriculture Development JSC (HPA), which filed for an initial public offering (IPO) with the State Securities Commission in September 2025. HPA plans to list its shares as HPA on the Ho Chi Minh Stock Exchange (HoSE) as early as December 2025.

In contrast, BAF Vietnam Agriculture JSC (HoSE: BAF) experienced a less favorable quarter. Its Q3 net revenue declined 13.5% year-on-year to VND1.1 trillion ($41.8 million).

A 20% drop in cost of goods sold boosted gross profit by 18% to VND264 billion ($10 million). However, higher operating expenses across the board dragged down net profit to VND22 billion ($835,947), a 63.3% decline.

In the first nine months of 2025, BAF recorded VND3.65 trillion ($138.7 million) in revenue and VND365.3 billion ($13.88 million) in after-tax profit, with earnings rising 70% year-on-year thanks to strong results earlier in the year.

Year-end growth outlook

Analysts expected live hog prices to edge up slightly in early November, driven by rising demand for fresh and processed pork ahead of the New Year and Lunar New Year 2026.

As supply from large farms has yet to recover significantly, this seasonal consumption surge could lift livestock companies’ earnings through the end of 2025.

At a recent industry forum, Ta Van Tuong, deputy director of the Hanoi Department of Agriculture and Environment, emphasized the role of communication and consumer behavior in shaping the livestock market.

“We need to guide consumers to shift from ‘hot meat’ to chilled and processed products that meet modern food safety standards,” he said. “The expansion of supermarkets, convenience stores, and e-commerce platforms will drive transparent, traceable, and value-chain-based production.”

Meanwhile, analysts at An Binh Securities cautioned that the sector still faces challenges from potential African swine fever outbreaks and logistics cost pressures.

In the long term, experts remain optimistic about the livestock industry’s growth prospects. Profit margins are expected to improve on rising prices and stable supply.

Enterprises with end-to-end production control and effective risk management against natural disasters and diseases are likely to gain competitive advantages, achieve higher efficiency, and sustain long-term profitability, they added.