The ostrich, the tallest bird on Earth, stands at an impressive height of nearly 3 meters. Once a wild bird native to Africa, this species has now been domesticated and acclimated to the Vietnamese environment, becoming a widespread and economically viable livestock option.
Among the few entities in Vietnam that rear and supply ostrich products for domestic consumption and export is the state-owned corporation, Khatoco.
According to their website, Khatoco owns the largest ostrich herd in Vietnam, with two breeding centers located in Ninh Hoa, Khanh Hoa, and Tam Ky, Quang Nam.
The Ninh Hoa Ostrich Breeding Center, in particular, 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 Breeding Center has a smaller herd of 450 breeding ostriches and 2,500 commercial birds, producing approximately 5,500 breeding ostriches, over 150 tons of meat, and around 3,000 skins for leather production each year.
In their 2023 business report, Khatoco recorded sales of 516 tons of ostrich and crocodile meat. The company currently holds over 80% of the market share in Vietnam for ostrich breeding stock.
Khatoco’s Ostrich Meat Products
However, ostrich farming is just a small part of Khatoco’s diverse business portfolio.
The state-owned corporation, Khatoco, was established in 1993, initially focusing on tobacco production and gradually expanding into various other industries. With a long-standing reputation both domestically and internationally, Khatoco has been one of the leading enterprises in Khanh Hoa province for decades.
Starting with a modest capital of 6 million VND and solely producing cigarettes by hand, Khatoco has grown exponentially over the last 30 years. As of 2023, the company’s owner’s equity stands at an impressive 2,435 billion VND, and its total assets exceed 6,157 billion VND.
Khatoco’s business operations span 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.
Some of their notable real estate projects include the Trang E Industrial Cluster (152.3 ha), Khatoco Ninh Ich (35.5 ha), Yang Bay Tourism Park, Liberty Central Nha Trang Hotel (a 4-star hotel with 227 rooms), and Ibis Styles Nha Trang (featuring 331 rooms).
Khatoco prides itself on being the top contributor to the state budget in Khanh Hoa province, thanks to its diverse business portfolio and significant scale of operations.
In terms of revenue, Khatoco has consistently maintained a range of 7,000 to 9,000 billion VND annually, with notable fluctuations. The company experienced a peak in revenue from 2013 to 2016, surpassing 9,000 billion VND each year. However, in the last three years, Khatoco’s revenue has shown a significant recovery.
In 2023, the company’s revenue reached 8,772 billion VND, a more than 10% increase from the previous year. Despite this improvement, 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 has been on a downward trend since. In 2023, the company’s profit after tax was 242 billion VND, a 15% decrease compared to 2022.
As of December 31, 2023, Khatoco’s total assets amounted to 6,157 billion VND, with inventory accounting for a significant portion, valued at 3,088 billion VND. The company held 157 billion VND in cash and cash equivalents.
Regarding liabilities, Khatoco’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 63% of total debt and equivalent to the owner’s equity (2,337 billion VND).
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On March 11, 2024, BaF Vietnam Agriculture Joint Stock Company (HOSE: BAF) and Citek Technology Joint Stock Company officially signed a collaboration agreement, initiating the Comprehensive Enterprise Digital Transformation Project with SAP S/4HANA Cloud solution and the adoption of International Financial Reporting Standards (IFRS).
The Largest Ostrich Farm in Vietnam: Dominating the Domestic Market with an 80% Share of Ostrich Chick Supply and a Consistent Annual Revenue of 7-9 Trillion VND.
With a diverse portfolio, our company’s operations span a range of industries, including tobacco, travel services, fashion textiles and leather goods, paper and packaging, livestock farming, international trade and investment, and real estate.
