Vietnam's livestock major Dabaco targets annual profit growth of at least 7% by 2030

By Minh Hue
Mon, April 21, 2025 | 10:37 pm GMT+7

Dabaco, a leading Vietnamese livestock group headquartered in Bac Ninh province, aims to grow its revenue to a record VND38-40 trillion ($1.55 billion) by 2030, 1.5 times higher than in 2024.

The company, listed on the Ho Chi Minh Stock Exchange under the ticker DBC, targets an average annual pre-tax profit growth of at least 7%.

At its 2025 AGM held on Saturday, chairman Nguyen Nhu So added that Dabaco seeks to reach VND28.76 trillion ($1.11 billion) in revenue and over VND1 trillion ($38.65 million) in post-tax profit this year.

Dabaco chairman Nguyen Nhu So speaks at the 2025 AGM on April 19, 2025. Photo courtesy of the company.

Dabaco chairman Nguyen Nhu So speaks at the 2025 AGM on April 19, 2025. Photo courtesy of the company.

In 2025, Dabaco plans to accelerate the implementation of several strategic projects, including a Dacovet vaccine production facility; high-tech pig farming operations in the provinces of Lao Cai, Thanh Hoa, Quang Tri, Thai Nguyen, and Bac Kan; the expansion of its oil pressing plant – phase 2 with a daily capacity of 1,000 tons; and real estate and logistics developments such as the Tan Chi inland port, the Van An urban area, and the Dai Phuc commercial center in Bac Ninh.

Regarding a shareholder proposal to offer a cash dividend advance alongside the planned 15% stock dividend for 2024, So stated that he personally prefers cash dividends, as he is the company’s largest shareholder.

"However, due to the agricultural sector’s typically thin profit margins and ongoing risks like market volatility and disease outbreaks, Dabaco tends to pursue cautious and highly achievable financial goals."

He revealed that Q1 net profit is expected to exceed VND500 billion ($19.33 million), with Q2 projected at around VND400 billion. "We will seek shareholder approval to revise our annual profit target and consider a cash dividend advance for 2025 once business performance for the first six and nine months of the year becomes clearer," he said.

Addressing questions on the vaccine business, So said that Dabaco's African swine fever vaccine, Dacovac-ASF2, is currently being sold commercially at VND60,000-70,000 ($2.71) per dose and is prioritized for use in the company’s own pig farms.

The company is actively working with partners in the Philippines, although exporting vaccines typically takes 4-6 months, while importing them into Vietnam can take up to two years.

At the AGM, shareholders also raised concerns about a recent share sale registered by Nguyen Thi Thu Huong, a board Member, deputy CEO, and CFO - and asked for the chairman’s outlook on DBC's stock price.

Chairman So responded that the sale was due to Huong’s personal financial needs and was not influenced by the company. As the largest shareholder, he said he prefers buying to selling, adding humorously that “I’ll only sell when the share price matches my age.”

Commenting on recent stock price fluctuations, he said such movements are normal and largely driven by investor sentiment. “Some investors are strange - they sell when a company is underperforming, which is understandable. But they also sell when a company is performing well,” he noted.

He reaffirmed that Dabaco is operating efficiently and is undergoing a brand repositioning. While the 2025 official profit target is over VND1 trillion ($38.65 million), he said he believes the company could reach as high as VND1.5 trillion ($58 million), expressing optimism about the stock’s potential.

Another key topic at the AGM was the proposed allocation of VND100 billion ($3.87 million) each to the employee bonus fund and the welfare fund from 2024 profits. So explained that with approximately 8,000 employees across the group, this is a reasonable amount.

“Those who have performed well, made meaningful contributions, and stayed committed over the years deserve to be recognized - especially with our 30th anniversary approaching. If we allocate 20% of profits to reward employees and 80% to shareholders, that’s absolutely fair,” he said.

Following the discussion, 100% of attending shareholders voted to approve all proposals and resolutions put forward at the AGM. The meeting also elected a new board of directors with 11 members and a three-member supervisory board.

In the stock market, DBC closed Monday at VND27,250 ($1.05) per share, up 1.8% from the previous day although the benchmark VN-Index suffered a decrease of 12 points, or 0.99%.

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