On April 26th, Vietnam Livestock Technology Joint Stock Company (VISSAN) organized its 2024 Annual General Meeting of Shareholders.
Mr. Nguyen Ngoc An, VISSAN’s General Director, stated that despite the challenging circumstances in 2023, the company made significant efforts and essentially accomplished its planned revenue, and profit.
Accordingly, total revenue reached 3,384.6 billion VND; profit before tax was 138.6 billion VND, meeting 100.4% of the plan; fresh food output was 10,470 tons, and processed food output was 21,511 tons.
“Purchasing power declined significantly across almost all sales channels. Overall, pork consumption decreased by 10% while processed food revenue dropped by 14.48%. Due to the economic downturn and reduced incomes, a number of employees resigned, leading to a sharp decrease in sales volume through traditional channels,” Mr. An informed.
Customers buying VISSAN pork at a supermarket in Ho Chi Minh City
For 2024, VISSAN aims to achieve a total revenue growth of 3,570 billion VND, with an estimated profit before tax of 141.5 billion VND. Fresh food output and processed food output are projected to be 10,600 tons and 23,500 tons, respectively.
To meet these objectives, the company has developed solutions to secure a stable supply of raw materials. These include continuing to promote the strategy of developing a live pig raw material source based on the Feed – Farm – Food model and forging partnerships and collaborations with large-scale pig farming entities to secure a supply of live pigs.
VISSAN will also focus on expanding the distribution of its pork and beef products to various channels, with a particular emphasis on online sales channels. Specifically, M will continue to drive sales through the Vissanmart.com website and existing e-commerce platforms, and has entered into agreements to list products on new platforms such as Tiktokshop.
With regard to the processed food segment, the company will continue to introduce new product lines for distribution in convenient supermarket chains, targeting young consumers, particularly Generation Z.
