In 3Q24, ANV released revenue of VND1,341bn (+22% yoy/ +12.4% qoq). Pangasius segment (ANV’s core business) contributed VND1,310bn (+22.1% yoy/ +14.5% qoq). Gross margin was at 12.9% (+5.2%p yoy/ +0.05%p qoq). We think the recovery of gross margin was attributed to the lower input costs, particularly the aquafeed prices. At the bottom line, NPAT-MI posted VND27.9bn, strongly reviving compared to 2Q24 (loss of VND2.3bn) and 3Q23 (VND1bn). This is a positive signal for earnings recovery.

In 3Q24, ANV released revenue of VND1,341bn (+22% yoy/ +12.4% qoq). Pangasius segment (ANV’s core business) contributed VND1,310bn (+22.1% yoy/ +14.5% qoq). Gross margin was at 12.9% (+5.2%p yoy/ +0.05%p qoq). We think the recovery of gross margin was attributed to the lower input costs, particularly the aquafeed prices. At the bottom line, NPAT-MI posted VND27.9bn, strongly reviving compared to 2Q24 (loss of VND2.3bn) and 3Q23 (VND1bn). This is a positive signal for earnings recovery.

In 3Q24, ANV released revenue of VND1,341bn (+22% yoy/ +12.4% qoq). Pangasius segment (ANV’s core business) contributed VND1,310bn (+22.1% yoy/ +14.5% qoq). Gross margin was at 12.9% (+5.2%p yoy/ +0.05%p qoq). We think the recovery of gross margin was attributed to the lower input costs, particularly the aquafeed prices. At the bottom line, NPAT-MI posted VND27.9bn, strongly reviving compared to 2Q24 (loss of VND2.3bn) and 3Q23 (VND1bn). This is a positive signal for earnings recovery.

In 3Q24, ANV released revenue of VND1,341bn (+22% yoy/ +12.4% qoq). Pangasius segment (ANV’s core business) contributed VND1,310bn (+22.1% yoy/ +14.5% qoq). Gross margin was at 12.9% (+5.2%p yoy/ +0.05%p qoq). We think the recovery of gross margin was attributed to the lower input costs, particularly the aquafeed prices. At the bottom line, NPAT-MI posted VND27.9bn, strongly reviving compared to 2Q24 (loss of VND2.3bn) and 3Q23 (VND1bn). This is a positive signal for earnings recovery.

In 3Q24, ANV released revenue of VND1,341bn (+22% yoy/ +12.4% qoq). Pangasius segment (ANV’s core business) contributed VND1,310bn (+22.1% yoy/ +14.5% qoq). Gross margin was at 12.9% (+5.2%p yoy/ +0.05%p qoq). We think the recovery of gross margin was attributed to the lower input costs, particularly the aquafeed prices. At the bottom line, NPAT-MI posted VND27.9bn, strongly reviving compared to 2Q24 (loss of VND2.3bn) and 3Q23 (VND1bn). This is a positive signal for earnings recovery.

In 3Q24, ANV released revenue of VND1,341bn (+22% yoy/ +12.4% qoq). Pangasius segment (ANV’s core business) contributed VND1,310bn (+22.1% yoy/ +14.5% qoq). Gross margin was at 12.9% (+5.2%p yoy/ +0.05%p qoq). We think the recovery of gross margin was attributed to the lower input costs, particularly the aquafeed prices. At the bottom line, NPAT-MI posted VND27.9bn, strongly reviving compared to 2Q24 (loss of VND2.3bn) and 3Q23 (VND1bn). This is a positive signal for earnings recovery.

In 3Q24, ANV released revenue of VND1,341bn (+22% yoy/ +12.4% qoq). Pangasius segment (ANV’s core business) contributed VND1,310bn (+22.1% yoy/ +14.5% qoq). Gross margin was at 12.9% (+5.2%p yoy/ +0.05%p qoq). We think the recovery of gross margin was attributed to the lower input costs, particularly the aquafeed prices. At the bottom line, NPAT-MI posted VND27.9bn, strongly reviving compared to 2Q24 (loss of VND2.3bn) and 3Q23 (VND1bn). This is a positive signal for earnings recovery.

In 3Q24, ANV released revenue of VND1,341bn (+22% yoy/ +12.4% qoq). Pangasius segment (ANV’s core business) contributed VND1,310bn (+22.1% yoy/ +14.5% qoq). Gross margin was at 12.9% (+5.2%p yoy/ +0.05%p qoq). We think the recovery of gross margin was attributed to the lower input costs, particularly the aquafeed prices. At the bottom line, NPAT-MI posted VND27.9bn, strongly reviving compared to 2Q24 (loss of VND2.3bn) and 3Q23 (VND1bn). This is a positive signal for earnings recovery.

In 3Q24, ANV released revenue of VND1,341bn (+22% yoy/ +12.4% qoq). Pangasius segment (ANV’s core business) contributed VND1,310bn (+22.1% yoy/ +14.5% qoq). Gross margin was at 12.9% (+5.2%p yoy/ +0.05%p qoq). We think the recovery of gross margin was attributed to the lower input costs, particularly the aquafeed prices. At the bottom line, NPAT-MI posted VND27.9bn, strongly reviving compared to 2Q24 (loss of VND2.3bn) and 3Q23 (VND1bn). This is a positive signal for earnings recovery.

In 3Q24, ANV released revenue of VND1,341bn (+22% yoy/ +12.4% qoq). Pangasius segment (ANV’s core business) contributed VND1,310bn (+22.1% yoy/ +14.5% qoq). Gross margin was at 12.9% (+5.2%p yoy/ +0.05%p qoq). We think the recovery of gross margin was attributed to the lower input costs, particularly the aquafeed prices. At the bottom line, NPAT-MI posted VND27.9bn, strongly reviving compared to 2Q24 (loss of VND2.3bn) and 3Q23 (VND1bn). This is a positive signal for earnings recovery.