Greenfeed Vietnam is the owner of the meat brand G Kitchen.
According to the periodic financial report of Greenfeed Vietnam Joint Stock Company recently published by the Hanoi Stock Exchange (HNX), Greenfeed Vietnam’s after-tax profit in 2023 was over VND437 billion, an increase of VND20.4 billion year-on-year.
It is worth noting that in the first half of 2023, Greenfeed Vietnam still reported a loss of nearly VND20 billion. Thus, in just the last 6 months of 2023, Greenfeed Vietnam made a profit of up to VND457 billion, higher than the profit for the entire year of 2022 (VND416.7 billion in 2022).
Greenfeed Vietnam’s equity at the end of 2023 reached VND3,967.6 billion, an increase of VND373 billion compared to the end of 2022.
The debt-to-equity ratio decreased from 1.71 to 1.38, indicating that the company has total debt at over VND5,475 billion. Of which, the outstanding bond debt is VND992 billion. In 2023, Greenfeed Vietnam paid nearly VND33 billion in bond interest.
Data on HNX shows that Greenfeed Vietnam is only circulating a single bond lot with the code GFVCH2128001, issued on November 3, 2021, with a maturity date of June 15, 2028, and an issue interest rate of 6.53% per annum. The total face value is VND1,000 billion. This bond lot is a loan from the International Finance Corporation (IFC) of the World Bank to Greenfeed.
The purpose of issuing this bond lot is to invest in expanding the scale of breeding and commercial pig farming; investing in expanding the feed, slaughtering, and food processing business in Vietnam.
This bond lot is secured by 100% of GreenFeed Vietnam’s contributed capital in GreenFarm Asia LLC and 100% of its contributed capital in THHH LinkFarm; all rights, titles, benefits, and income related to or arising in the future, for and under any intercompany receivables between GreenFeed Vietnam and GreenFarm Asia LLC, THHH LinkFarm.
GreenFeed Vietnam JSC was established in May 2008. In June 2022, the company increased its charter capital from VND1,000 billion to VND1,500 billion; in August 2022, the company further increased its capital from VND1,500 billion to VND1,507.5 billion. The ownership structure is owned by Oriental Ford Holding LLC with 63.02%; GreenFeed Thailand owns 3.4%.
GreenFeed Vietnam is one of the long-standing companies in the animal feed industry. From its position in the animal feed sector, the company expanded into the livestock sector and chose to follow an integrated chain model from “Feed – Farm – Food” (a safe food production model, from animal feed to the farming process and food processing).
