The PAN Group acquires $56 million in after-tax profit in 2025

Bibica, a confectionery producer, contributed a large amount of revenue for The PAN Group

According to The PAN Group’s unaudited consolidated financial report for the fourth quarter and the whole of 2025, issued on January 26, the company recorded consolidated net revenue of VND17.58 trillion ($732 million), an increase of 8.7 per cent compared to 2024, and completed 102 per cent of the annual plan.

The board of directors stated that this result shows its great efforts in maintaining growth momentum, especially in the context that its two pillar sectors, namely aquaculture and agriculture, had to face many challenges from the domestic and international business environment, in collaboration with unfavourable weather conditions.

After-tax profit attributable to parent company shareholders is projected at VND672 billion ($26.8 million), a 10.4 per cent growth compared to 2024, primarily driven by the seafood and food segments. When excluding the extraordinary profit in 2024, PAN's core profit in 2025 is estimated to grow by 17 per cent.

The growth in after-tax profit attributable to parent company shareholders is driven by strong growth in the aquaculture and food segments, specifically from member companies, in which The PAN Group holds a high ownership stake.

For example, Aquatex Bentre, with its main product being basa fish, experienced a strong growth year. Sales in 2025 were estimated to grow by 21 per cent and pre-tax profit by 56 per cent compared to 2024.

Fimex VN's shrimp segment is projected to achieve an 18 per cent sales growth in 2025 compared to 2024, while pre-tax profit will remain nearly the same as in previous years. Thanks to accelerated early deliveries in the first six months to avoid tariffs imposed by US importers and a recovery in consumer demand in the last six months, Fimex VN expects strong revenue growth for the entire year of 2025.

The packaged food sector in 2025 was led by confectionery firm Bibica, with sales increasing slightly by 1 per cent but pre-tax profit growing by 20 per cent compared to 2024. Thus, the confectionery segment maintained its record revenue and achieved a record in pre-tax profit.

In Bibica's product structure, the gift confectionery segment declined by 12 per cent, while the nutritional product group grew by over 50 per cent. This product group, with good profit margins, contributed to the company's pre-tax profit growth. Furthermore, optimising operating costs resulted in an 18 per cent reduction compared to 2024. Simultaneously, export revenue remained a key driver for the company, growing at a 20 per cent annual rate.

In addition, export revenue remained a key driver for the company, achieving a 20 per cent annual growth rate.

In the fish sauce and seed segment, sales and pre-tax profit for fish sauce remained at a similar level compared to 2024, partly due to business disruptions and damage from major floods in the south central region in the fourth quarter of 2025.

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