Vietnam's livestock major GreenFeed reaps $65 mln in H1 profit, outpacing major rivals

GreenFeed Vietnam, a leading livestock company in the country, posted VND1.72 trillion ($65.07 million) in H1 after-tax profit, 2.5 times higher than the same period last year.

The figure nearly doubled the profit of its competitor Hoa Phat Agriculture (VND939 billion) and was 68% higher than that of Dabaco (VND1.02 billion), according to its semi-annual financial report for H1.

The surge in profitability pushed the company’s ROA (return on total assets) to 12.75% and ROE (return on equity) to an impressive 23.69%, underscoring its rapid growth momentum in a sector still recovering from volatile input prices and disease outbreaks.

By the end of June, GreenFeed’s equity had climbed to VND7.24 trillion ($274.23 million), up almost 20% since the start of the year. Remarkably, undistributed profit made up nearly 85% of that figure. Its total assets reached VND13.45 trillion ($510 million).

Founded in 2003 and headquartered in the former Long An province (now Tay Ninh province after their merger in July), GreenFeed has built a sprawling agrifood ecosystem under its 3F (feed-farm-food) model. The group now owns 11 feed mills across Vietnam, Cambodia, and Myanmar.

In farming, GreenFeed has developed vertically integrated pig production with proprietary breeding lines and strict biosecurity protocols. Downstream, its G Kitchen and Wyn brands supply chilled meat and processed foods to supermarkets and retailers nationwide.

The company has also branched into logistics through QD Logistics, specializing in transporting agricultural goods and livestock, and into technology via QD.TEK, a distributor of digital and industrial solutions.

In August, GreenFeed made waves by doubling its charter capital from nearly VND1.51 trillion to VND3.02 trillion ($173.96 million). Despite the expansion, foreign shareholders still hold a controlling 66.42% stake. The largest is Hong Kong-headquartered Oriental Ford Holding with 63.02%, followed by GreenFeed (Thailand) Co., Ltd with 3.4%.

Notably, Oriental Ford Holding’s stake is represented by Ly Anh Duy Quang, son of GreenFeed chairman Ly Anh Dung.