The ostrich, the tallest bird species on Earth, stands at an impressive height of nearly 3 meters. Once a wild bird native to Africa, this magnificent creature has now been successfully domesticated and acclimated to the Vietnamese climate. Ostrich farming has become widespread in the country, offering significant economic benefits.
Among the few entities in Vietnam that breed and supply ostrich products for both domestic consumption and export is the renowned Khatoco (Total Vietnam Corporation). According to their website, Khatoco boasts the largest ostrich herd in the country, with two dedicated ostrich breeding centers located in Ninh Hoa, Khanh Hoa, and Tam Ky, Quang Nam.
The Ninh Hoa Ostrich Breeding Center is home to 600 breeding ostriches and 3,500 commercial ostriches, supplying the market with 3,000 breeding birds, 170 tons of meat, and over 3,000 ostrich skins for the leather industry annually. Meanwhile, the Khatoco Quang Nam Ostrich Breeding Center maintains a herd of 450 breeding ostriches and 2,500 commercial birds, producing approximately 5,500 ostrich chicks, over 150 tons of meat, and around 3,000 ostrich skins each year.
In their 2023 business report, Khatoco recorded sales of 516 tons of ostrich and crocodile meat. The company currently dominates the market as the leading supplier of ostrich chicks to domestic ostrich farmers, holding over 80% market share in this sector.
Khatoco’s ostrich meat products
However, ostrich farming is just a small part of Khatoco’s diverse business portfolio.
The Total Vietnam Corporation, or Khatoco, is a well-known state-owned enterprise that initially focused on tobacco manufacturing and trading. Over the years, they have expanded into various industries and gained recognition both domestically and internationally. With a long-standing presence in Khanh Hoa province, Khatoco has consistently been one of the largest-scale enterprises in the region for several decades.
Established in 1993 with a modest capital of 6 million VND, Khatoco’s predecessor was a company specializing in Phu Khanh cigarettes, producing them entirely by hand. Fast forward to today, after more than 30 years of growth, the company’s owner’s equity has soared to 2,435 billion VND. Khatoco is now recognized as one of the leading businesses in Khanh Hoa, with total assets surpassing 6,157 billion VND as of the end of 2023.
Khatoco’s business operations encompass a wide range of sectors, including tobacco, tourism services, garment and leather products, paper and packaging, animal husbandry, trade and import-export, financial investments, and real estate development.
Some of their notable real estate projects include the Trang E Industrial Cluster (152.3 hectares, comprising three industrial clusters), Khatoco Ninh Ich (35.5 hectares), Yang Bay Tourism Park, Liberty Central Nha Trang Hotel (a 227-room 4-star standard hotel), and Ibis Styles Nha Trang (featuring 331 guest rooms).
As one of the largest enterprises in Khanh Hoa province, Khatoco consistently contributes significantly to the state budget.
In terms of financial performance, Khatoco typically generates annual revenues ranging from 7,000 to 9,000 billion VND, with considerable fluctuations. During the peak years of 2013-2016, the company consistently achieved annual revenues exceeding 9,000 billion VND. In the last three years, Khatoco’s revenue has shown a significant recovery.
In 2023, the company’s revenue reached 8,772 billion VND, reflecting a notable increase of over 10% compared to the previous year. However, profit after tax did not grow proportionally.
Looking at the 10-year period from 2013 to 2023, Khatoco’s profit peaked at 618 billion VND in 2014 and then gradually declined. In 2023, the company’s profit after tax stood at 242 billion VND, a 15% decrease compared to 2022.
As of December 31, 2023, Khatoco’s total assets amounted to 6,157 billion VND, primarily consisting of inventory valued at 3,088 billion VND. The company held 157 billion VND in cash and cash equivalents.
Regarding liabilities, the company’s total debt in the past year increased significantly to 3,721.5 billion VND, of which short-term borrowings accounted for 2,331 billion VND, representing approximately 63% of total debt and equivalent to the owner’s equity (2,337 billion VND).
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