In Vietnam, Camimex Group recently concluded its successful 2024 Annual General Meeting of Shareholders. During the event, the company outlined its targets aimed at further solidifying its position in the global shrimp market.

Export Goals and Financial Targets

The company’s primary goal for 2024 is to export 10,000 tons of finished shrimp products, with an anticipated export turnover exceeding USD 75 million (VND 1,910 billion). These targets represent a robust increase of over 56% and 44%, respectively, compared to the previous year.

Camimex aims for total revenue of VND 2,500 billion (USD 98.29 million) and a post-tax profit of VND 105 billion (USD 4.13 million) in 2024, marking a rise of nearly 23% and 57%, respectively, compared to 2023. The company’s first-quarter results already showcase promising growth, with revenues reaching VND 789 billion (USD 31.06 million)—a remarkable 220% increase year-over-year—and a post-tax profit of VND 31 billion (approximately USD 1.22 million), up by 35%.

Factors Driving Growth

The impressive growth can be attributed to increased production volume, optimized sales strategies, and improved market demand recovery, according to Camimex Group’s leadership.

Camimex plans to expand its ecological shrimp farming area to 20,000 hectares this year. Significant investments are earmarked for enhancing infrastructure, including VND 120 billion (USD 4.72 million) for a 6,000-ton cold storage facility and VND 300 billion (USD 11.79 million) for advanced shrimp farming technologies.

Strategic Acquisition

To diversify its portfolio, Camimex has acquired a fish processing facility from Hung Vuong. This acquisition is expected to unlock new growth opportunities in the fish processing segment, complementing the company’s existing strengths in shrimp production.

Looking ahead, Camimex is forging strategic partnerships to explore new market opportunities, notably in South Korea. Collaborations with E-Mart, South Korea’s largest retail chain, are set to introduce tailored shrimp products, leveraging over 270 supermarkets and hypermarkets across the country.

Dividend Policy and Future Outlook

Despite its robust financial performance, Camimex continues its policy of not distributing dividends in 2023 and does not plan to do so in 2024. The decision reflects ongoing negotiations with credit institutions to revise outdated terms, allowing for more flexible financial management.