Opportunities for Methane Capture in the Intensive Livestock Industry
FEED INDUSTRY REPORT Q1/2020 · 2020. 4. 22. · III. Vietnam market 33 V. Planning and forecast 58...
Transcript of FEED INDUSTRY REPORT Q1/2020 · 2020. 4. 22. · III. Vietnam market 33 V. Planning and forecast 58...
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FEED INDUSTRY REPORT Q1/2020
TABLE OF CONTENT
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Content Page Content Page
Abbreviations 4 3. Production technology 16
Summary 5 4. Materials 18
I. Business environment 7 5. Production 24
1. Macroeconomic situation 8 6. Consumption 27
2. Legal framework 10 7. Export import 28
3. Trade Agreements 12 8. Production and consumption in regions of the world 30
II. World market 13 9. Production in some typical countries 32
1. Definition and classification 14 10. Leading companies in the feed production industry 34
2. Production process 15
TABLE OF CONTENT
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Content Page Content Page
III. Vietnam market 33 V. Planning and forecast 58
1. Value chain of livestock industry 34 1. Planning for livestock industry 59
2. Materials 35 2. Planning for livestock feed industry 61
3. Production 45 3. Development drivers of the industry 62
4. Consumption 49 3. Forecast of feed market 63
5. Export import 50 VI. Enterprise analysis 66
6. Inventory 52 1. Enterprise introduction 67
7. Distribution system 53 2. Financial analysis 72
8. Analysis of industry competition 55 VII. Appendix 82
IV. SWOT analysis 56
4
Abbreviations
AHAV Animal Husbandry Association of Vietnam
Co. ltd Limited company
CPTPP Comprehensive and Progressive Trans-Pacific Partnership
FAO Food and Agriculture Organization
FDI Foreign direct investment
GDP Gross Domestic Product
GDVC General Department of Vietnam Customs
GSO General Statistics Office
IGC International Grains Council
JSC Joint stock company
MARD Ministry of Agriculture and Rural Development
SBV The State Bank of Vietnam
USDA U.S. Department of Agriculture
USGC U.S. Grains Council
5
Summary
Top feed producing
countries (2019)
Feed production (2019)
Feed additives (2019) x billion USD
Export of animal feed
(2018)
Revenue from animal
feed (2019)
Major exporting
countries(2018)
Source: VIRAC, Indexmundi
* Prices of fishmeal in San Isidro, Peru
Price of soybean meal, corn and wheat price in the US
USD/ton
WORLD MARKET
Price fluctuation of raw materials for animal feed, 1/2017 - 12/2019
6
Summary
Imported maize output
(2019)
Output of imported
wheat (2019)
Output of imported
soybeans (2019)
Feed production (2019)
Feed additives (2019)Feed consumption
(2019)
Import of animal feed
(2019)
Main import markets
(2019)
Export of animal feed
(2019)
Main destination
markets (2019)
• Inventory of animal feed in 2019 increased sharply x% compared to 2018 due to difficulties in the livestock industry. The main reason is the
outbreak of African swine cholera in the first half of the year, which affected the sales of animal feed.
VIETNAM MARKET
7
1. Môi trường kinh doanh
Nội dung
BUSINESS ENVIRONMENT
8
Part I. Business environment
1. Macroeconomic situation
Source: VIRAC, GSO
Source: VIRAC, GSO
Output value of agriculture, forestry and fishery in the first 9
months (constant 2010), 2016 - 2019
Billion VND Production of agriculture, forestry and fishery in 2019 reached a low
growth rate due to difficulties.
%GDP growth rate by quarter, 2016 - 2019
9
Source: VIRAC, GSO
Source: VIRAC, SBV
VND
The VND/USD exchange rate in 2019 continued a slight upward trend
but remained relatively stable
Monthly CPI fluctuation, 1/2015 – 12/2019
VND/USD exchange rate, 1/2013 – 12/2019
Part I. Business environment
1. Macroeconomic situation
1.2.1. Group specified on production
1.2.2. Group of regulations on consumption:
Tariff policy:
Part I. Business environment
2. Legal framework
10
Part I. Business environment
2. Legal framework
1.2.3. Other specified group
1.2.4. Impact of the legal framework on animal feed industry
11
12
1.3.1. AEC - ASEAN Economic Community was officially established on December 31, 2015
Part I. Business environment
3. Trade agreements
13
WORLD MARKET
Part II. World market
1. Definition and classification
14
• Animal feeds are products that animals eat and drink in fresh, raw or
processed and preserved forms including: raw or single feed
ingredients, complete mixed feeds, feeds. Concentrates, dietary
supplements, animal feed additives, premixes, active ingredients and
carriers.
Classification of feed by mode of processing
…
Source: VIRAC
15
Some key stages in the process of feed production include:
Part II. World market
2. Production process
16
• The production line of animal feed will be based on animal feed production process, there are 2 main types of processes.
• Some main advantages and disadvantages of the two technologies:
Advantages Disadvantages
The first
technology
The second
technology
Part II. World market
3. Production technology
17
Machinery for animal feed production include a number of basic types: crushing, mixing, conveying and conveying units, pelletizing machines, injection
parts, boilers, drying, cooling, bagging systems.
Part II. World market
3. Production technology
The global feed additive market is estimated to reach US $ x billion
in 2019 and CAGR of x% in the forecast period (2020 - 2025).
Source: VIRAC, IHS
Part II. World market
4. Materials
18
Source: VIRAC, IHS
Consumption of feed additives by type, 2019e
Consumption of animal feed additives by region, 2019e
Part II. World market
4. Materials
19
No. Name of enterprises Revenue in 2018 Headquarters
1
2
3
4
5
6
7
8
9
10
Top largest feed additive manufacturing enterprises, 2018
Source: VIRAC, Marketresearchreports
Part II. World market
4. Materials
Source: VIRAC, USDA
The International Cereal Council (IGC) has cut its forecast for world wheat
production in the 2019/2020 crop, due to lower production in Russia, the
European Union and Canada.
Source: VIRAC, IGC
21
Million tons
Million tons
Corn, wheat and soybean production,2010/2011 - 2019/2020f
Consumption of maize, wheat and soybeans 2014/2015 - 2019/2020f
Part II. World market
4. Materials
Million tons
Source: VIRAC, USDA
Global wheat exports in the 2019/2020 crop were adjusted by the
USDA to decrease by x million tons to xx million tons, mainly due to
decline in the export of Australia and Kazakhstan.
22
Source: VIRAC, Worldstoexports
Billion USD
Top largest wheat exporters, 2018
Export of raw materials for animal feed,
2016/2017 - 2019/2020f
Source: VIRAC, Indexmundi
Part II. World market
4. Materials
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• While the price of fishmeal in the first half of 2019 remained relatively stable, the first half of the following year tended to decrease and move
sideways due to the decline in demand for pig feed in China in the context that the cholera epidemic has not been fully controlled.
USD/ton Fluctuation of raw material prices of animal feed, 1/2017 – 12/2019
In 2019, global production of animal feed production reached xx million tons, a decrease of about x% compared to 2018. The widespread spread of
African cholera has reduced the number of pigs, affecting the demand for pig feed, especially in the Asia - Pacific region decreased by x% to x million
tons
Part II. World market
5. Production
24
Million tons
Source: VIRAC, ALLTECH
World production of animal feed, 2013 - 2019
%
• Poultry feed production in 2019 held the leading position, accounting
for xx% of the market share, but down x% compared to the previous
year.
Feed production by species, 2011 - 2019
Million tons
Part II. World market
5. Production
Source: VIRAC, ALLTECH
Source: VIRAC, ALLTECH
25
Livestock feed production structure, 2019
• The production of aquatic feed production in 2019 was x million tons, an increase of about x% compared to 2018.
Source: VIRAC, ALLTECH
Part II. World market
5. Production
26
Source: VIRAC, ALLTECH
Feed production by species, 2013 - 2019 Livestock feed production structure by region, 2019
Million tons
26
Source: VIRAC, ALLTECH
Part II. World market
6. Consumption
Global feed production and consumption is strongly influenced by
meat demand.
Billion USD
Asia-Pacific has the largest share of feed consumption in the world,
Global sales of animal feed, 2013 - 2019e
Market share of animal feed consumption by region, 2017
Source: VIRAC, ALLTECH
%
In 2018, export of feed is estimated to reach x thousand tons, up
slightly compared to 2017, the export value of animal feed reached x
billion USD.
Part II. World market
7. Export import
Source: VIRAC, Trade map
28
Source: VIRAC, Trade map
Source: VIRAC, Worldtopexport
Billion USD Thousand tons
Billion USD
World production of feed exports, 2010 - 2018eWorld export value of feed, 2010 - 2018e
Top largest feed exporting countries, 2018
North America:
Latin America:
Europe:
30
Source: VIRAC, ALLTECH
Part II. World market
9. Production and consumption in regions of the world
Source: VIRAC, ALLTECH
Million tons
Feed production by region, 2019 Feed production structure by region, 2019
Asia - Pacific:
Africa:
31
Part II. World market
9. Production and consumption in regions of the world
1. America
2. America
Source: VIRAC, ALLTECH
Part II. World market
10. Production in some typical countries
32
Million tonsNumber of factory
Source: VIRAC, ALLTECH
Million tons
Top largest seafood feed producers, 2019Top largest animal feed producing countries, 2019
3. Brazil
4. Russia
5. India
6. Mexico
7. Spain
Part II. World market
10. Production in some typical countries
33
Leading manufacturing companies in the world, 2017
Source: VIRAC, WATT Global Media
Part II. World market
11. Leading companies in the feed production industry
No. Company Nation Production (thousand tons)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
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VIETNAM MARKET
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Value chain of livestock industryThe 3F model in the livestock industry is
currently considered a standard model for
feed manufacturers.
Phần III. Thị trường Việt Nam
1. Value chain of livestock industry
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In general, the cultivated land area maintained a downward trend during the period 2010-2018. In the period of 2015-2018, the productivity of all products
still tends to increase because the decrease of the production output is lower than the reduction rate of the cultivated area.
Source: VIRAC, MARD
Thousand ha
Phần III. Thị trường Việt Nam
2. Materials – 2.1 Domestic material sources
Source: VIRAC, MARD
Structure of agricultural land, 2019Area of main agricultural land, 2013-2019
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• Feed additives are substances with or without nutritional value added to
animal feed during processing and handling to maintain or improve certain
characteristics of animal feed includes acids amines such as lysine,
methionine, trytophan and threonine are essential for the growth of
animals, especially pigs and poultry.
Source: VIRAC, GrandView Research
Phần III. Thị trường Việt Nam
2. Materials – 2.2 Import materials
Million USD
Sales of animal feed additive market in Vietnam, 2013 - 2019e
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Source: VIRAC, GDVC
Phần III. Thị trường Việt Nam
2. Materials – 2.2 Import materials
Items
2019 2018 % 2019/2018
Volume (1000 tons) Value (million USD) Volume (1000 tons) Value (million USD) Volume Value
Wheat
Corn
Soybean
Animal fats and
vegetable oils
Import of feed ingredients, 2018 and 2019
• In 2019, imports of raw materials for feed production of most products declined compared to 2018.
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• Corn is one of the top 10 agricultural commodities that Vietnam has
to import the most. In 2019, the import of corn increased by x% in
value and x% in volume
Source: VIRAC, GDVC
Phần III. Thị trường Việt Nam
2. Materials – 2.2 Import materials
Million tons
Source: VIRAC, GDVC
Corn production and import value, 2013 – 2019
Thousand tons
Billion VND
Corn imports by month, 2016 – 2019
39
Phần III. Thị trường Việt Nam
2. Materials – 2.2 Import materials
Source: VIRAC, Agromonitor
• Maize imports in 2019 from major markets increased sharply both in
volume and value over the same period last year. Argentina and Brazil
are the two main maize import markets, accounting for xx% and x%
market shares, respectively.
Source: VIRAC, GDVC
Price movements of imported corn in the domestic market, 2017-2019
(VND/kg)VND/kg
Import market structure of maize, 2019
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Source: VIRAC, GDVC
Phần III. Thị trường Việt Nam
2. Materials – 2.2 Import materials
%Thousand tons
In 2019, Vietnam imported x million tons of wheat with a turnover of
about x million USD, decreased x% in volume and decreased x% in value
compared to 2018.
Source: VIRAC, GDVCSource: VIRAC, VITIC
Price movement of CBOT wheat, 2018 - 2019Uscent/bushel
Imported wheat, 2013 - 2019
Structure of Vietnam's wheat import market, 2019
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The main import markets of Vietnam's soybeans are Brazil (accounting for
xx%) and the US (xx%). Until this time, soybean is still one of the
commodities that Vietnam has to import a lot to process feed.
Source: VIRAC, MARD, GDVC
Thousand tons
Phần III. Thị trường Việt Nam
2. Materials – 2.2 Import materials
Source: VIRAC, GDVCSource: VIRAC, GDVC
Output of imported soybeans, 2010 - 2019
Thousand tons
Soybean imports by month, 2016 - 2019 Structure of Vietnam's wheat import market, 2019
%
42
The amount of soybean meal imported to Vietnam in 2019 is estimated
at x million tons, up x% compared to 2018.
Phần III. Thị trường Việt Nam
2. Materials – 2.2 Import materials
Price of soybean meal offered at Northern port and exempted from South,
2017 – 8/2019
Source: VIRAC, Agromonitor
Thousand tons
VND/Kg
Source: VIRAC, Agromonitor
Soybean meal import by month, 2018 - 2019
43
• Currently, the price of domestic animal feed materials cannot compete with other agricultural powers like the US, Argentina, and India.
Phần III. Thị trường Việt Nam
2. Materials – 2.2 Import materials
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Mode of trading raw materials for animal feed among farmers, traders, agents and processing factories
Mode of payment in import and export of feed ingredients
Phần III. Thị trường Việt Nam
2. Materials – 2.3 Mode of trading and payment of materials for feed
45
Source: VIRAC, GSO
• As of 2018, the animal feed industry has x businesses with more
than x employees. Domestic enterprises have twice as many
factories as FDI ones.
Source: VIRAC, GSO
Phần III. Thị trường Việt Nam
3. Production
• Currently, the number of businesses producing, processing and
trading animal feed in Vietnam is too many,
Number of enterprises and employees in the animal feed industry,
2010 - 2018
Allocation of animal feed production enterprises by region, 2010 - 2018
46
Source: VIRAC, GSO
Source: VIRAC, GSO
• In 2018, revenue and profit of the animal feed industry increased
compared to 2017, increased by x% and profit increased by x%, but
still lower than in 2016.
Phần III. Thị trường Việt Nam
3. Production
Billion VND
Billion VND
Revenue and Profit of animal feed industry, 2010 - 2018
Investment capital and Fixed assets for animal feed industry, 2010 - 2018
47
• According to experts, the animal feed industry of Vietnam after more than 20 years of integration has achieved many great achievements, the
average growth rate is xx%/year, making Vietnam an industrialized country. Animal feed achieved the fastest growth rate in the region.
Phần III. Thị trường Việt Nam
3. Production
48
Source: VIRAC, GSO
Phần III. Thị trường Việt Nam
3. Production
• Production of animal feed in 2019 reached x thousand tons, of which
the output of animal feed reached x thousand tons, down slightly by
x% compared to the previous year while the output of aquatic feed
reached x thousand tons. , an increase of x% compared to 2018.
Production of animal feed, 2010 - 2019
Thousand tons
Source: VIRAC, GSO
TonFeed production for cattle, poultry and seafood by month, 2018 - 2019
%
49
Source: VIRAC, GSO
• The feed consumption value in 2019 reached xx thousand tons,
equivalent to xx billion dong.
Source: VIRAC, GSO
Phần III. Thị trường Việt Nam
4. Consumption
Billion VND
Thousand tons
Consumption value of animal feed, 2013 - 2019
Feed consumption, 2013 - 2019
%
50
Source: VIRAC, GDVC
Source: VIRAC, GDVC
• According to estimated data, the import turnover of animal feed and
agriculture to Vietnam in December 2019 reached x million USD, down
x% compared to the previous month. For the whole year of 2019, the
import turnover of animal feed and energy to Vietnam reached x
billion USD, down x% compared to 2018.
Phần III. Thị trường Việt Nam
5. Export import – 5.1 Import
Million USD
Import turnover of animal feed and raw materials, 2010 - 2019
Import market structure of animal feed and raw materials
of Vietnam, 2019
51
Source: VIRAC, GDVC
In 2019, exports of animal feed and raw materials decreased by x%
compared to 2018, reaching only USD xx million, accounting for about
x% of the country's total export turnover.
Source: VIRAC, GDVC
Phần III. Thị trường Việt Nam
5. Export import – 5.2 Export
Export of feed and materials, 2013 - 2019
Million USD
Export market structure of animal feed, 2019
%
52
Source: VIRAC, GSO
Production of animal feed inventory has many fluctuations over the
years.
Phần III. Thị trường Việt Nam
6. Inventory
Thousand tons
Feed inventory, 2013 - 2019
%
53
• Currently in the animal feed industry there are two main kinds of
distribution:Distribution system in the feed industry
Phần III. Thị trường Việt Nam
8. Distribution system
54
• Facing the difficult situation of the whole industry, the system of distribution agents is also facing many difficulties as the amount of bran sold also
decreases with the price of live pork.
Phần III. Thị trường Việt Nam
8. Distribution system
55
Source: VIRAC, MNS
• Over the past 15 years, there have been many businesses and large corporations in the world involved in producing animal feed and seafood such as FDI
enterprises from countries and territories such as Thailand (Joint Stock Company), Taiwan. (Grobest, Uni President, Asian Nutrition ...), China (Thang Long,
Tongwei, Hoa Chen ...), Korea (CJ Master ...), France (Tomboy, Proconco ...), America (Cargill ...).
Name of company Pig Poultry Cattle Seafood
Leading companies in each segment
Phần III. Thị trường Việt Nam
9. Analysis of industry competition
Vietnam market share of feed, 2018
56
4 Rủi ro, động lực và thách thức
4.1 Rủi ro
4.2 Động lực
4.3 Thách thức
Nội dung
INDUSTRY RISKS
Strength Weakness
Opportunities Challenge
57
Part IV. SWOT analysis
58
5 Quy hoạch và dự báo
5.1 Quy hoạch ngành
5.2 Dự báo
Nội dung
PLANNING AND FORECAST
59
Growth in animal feed industry depends on two factors: growth of the livestock market and the supply of input materials.
Kind of animalYear
2015 2016 2020
Development plan for cattle and poultry industry up to 2020
Source: VIRAC, AHAV
Part V. Planning and forecast
1. Development planning for livestock industry
60
➢ Seafood:
No. Object
2015 2016 2020
Output
(thousand tons)
Area (thousand
hectares)
Output
(thousand tons)
Demand for
food (thousand
tons)
Area (thousand
hectares)
Output
(thousand tons)
Demand for
food (thousand
tons)
1
2
3
4
Aquaculture orientation to 2020
Source: VIRAC, AHAV
Part V. Planning and forecast
1. Development planning for livestock industry
61
• The demand for meat types in Vietnam is increasing sharply, the
total output of live meat of all types in 2019 is estimated at over x
million tons, down x% compared to 2018.
Source: VIRAC, Channuoivietnam
Part V. Planning and forecast
2. Development drivers of the industry
Source: synthesis of VIRAC
1
Consumption of meat per capita of Vietnam, 2013 – 2019
Egg/person
Seafood consumption per capita, 2013 – 2019
Kg/person
Kg/person
Livestock situation in the period, 2010 - 2019
Source: VIRAC, GSO, MARD
62
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Tổng số
con
(nghìn
con)
Sản
lượng
thịt
(nghìn
tấn)
Part V. Planning and forecast
2. Development drivers of the industry
63
Source: VIRAC Source: VIRAC
Part V. Planning and forecast
3. Forecast of feed market – World
• According to Technavio's market research report, the global feed market will record revenue of more than USD xx billion by 2020. The global feed
market grows at a CAGR of x% during the period from 2018 to 2022.
Billion USD Billion USD
Forecast of world animal feed revenue, 2018e - 2022e Forecast of animal feed additive market, 2016 - 2022f
64
Source: VIRAC, FAS - VN Source: VIRAC, USDA Post
Part V. Planning and forecast
3. Forecast of feed market – Vietnam
• According to a new report by Grand View Research, Inc., Vietnam's animal feed market is expected to reach US $ x billion before 2022 and will require x
- xx million tons of animal feed. The growth rate of this industry will reach x% in the period of 2015-2022.
Million tons Million USD
Vietnam's total feed demand, 2015 - 2022f Vietnam market of animal feed additive market,
2018e - 2022f
65
Part V. Planning and forecast
3. Forecast of feed market – Vietnam
Food market for seafood 2020
• In 2020, the General Department of Fisheries aims to reach a total output of about x million tons, an increase of x% compared to the estimated implementation in
2019; pangasius production x million tons, equivalent to 2019; shrimp production of all kinds x tons, increasing x%; Seafood export turnover will reach about US $
x billion, up x% compared to 2019.
Source: VIRAC, VASEP
Million USD
Vietnam seafood export turnover, 2013 - 2022f
%
66
6 Phân tích doanh nghiệp
6.1 Giới thiệu doanh nghiệp
6.2 Phân tích doanh nghiệp
Nội dung
ENTERPRISE ANALYSIS
No. Name of company Business sectors
Net
revenue
(Billion
VND)
Company profile
1
2
3
67
Part VI. Business analysis
1. Enterprise introduction
No. Name of company Business sectors
Net
revenue
(Billion
VND)
Company profile
4
5
68
Part VI. Business analysis
1. Enterprise introduction
No. Name of company Business sectors
Net
revenue
(Billion
VND)
Company profile
6
7
69
Part VI. Business analysis
1. Enterprise introduction
No. Name of company Business sectors
Net
revenue
(Billion
VND)
Company profile
8
9
10
70
Part VI. Business analysis
1. Enterprise introduction
Part VI. Business analysis
2. Financial analysis
71
CP Vietnam continues to be the business with the highest revenue in the animal feed industry in 2018, revenue this year increased significantly compared
to 2017 (up x%).
Billion VND
Source: VIRAC
Profit targets, 2017 - 2018
Part VI. Business analysis
2. Financial analysis
72
Cargill is the second-largest enterprise in the group of animal feed companies, as well as CP Vietnam, Cargill's business has recovered more than the
situation in 2017, although it still decreased slightly. x% in 2018,
Part VI. Business analysis
2. Financial analysis
73
CJ Vina Agri's revenue in 2018 increased sharply x% compared to 2017 because in this year, in Nhon Hoa Industrial Zone, An Nhon Town, Binh Dinh,
CJ Korea held a groundbreaking ceremony x-feed production machine in Vietnam, with a design capacity of more than xx thousand tons/year.
Part VI. Business analysis
2. Financial analysis
74
Most of the enterprises in the analytical group have average selling expense/net sales ratio, ranging from x - x%.
Source: VIRAC
Sale expenses/Net sales ratio, 2017 - 2018
Part VI. Business analysis
2. Financial analysis
75
Japfa Comfeed Vietnam is the company with the highest ratio of administrative expenses/net revenue in 2017 among the selected analytics group,
reaching x%, down from x% level in 2017 due to the fact that in 2018, the cost corporate management increased x% while net sales increased x%.
Source: VIRAC
General and administration expenses/net revenue ratio, 2017 - 2018
Part VI. Business analysis
2. Financial analysis
76
Most businesses in the group achieved moderate self-financing rates.
Source: VIRAC
Self-financing rate, 2017 - 2018
Part VI. Business analysis
2. Financial analysis
77
Most of the businesses in the group had a healthy financial situation in 2018 except Cargill Vietnam and Japfa Comfeed Vietnam, but the indices of
these companies were not too low and still ensure liquidity. math for businesses.
Source: VIRAC
Solvency, 2017 - 2018
Part VI. Business analysis
2. Financial analysis
78
CJ Vina Agri has the largest average collection period of 2018 in the group, reaching xx days, due to the relatively high proportion of accounts
receivable in the company's short-term asset structure (in 2017 accounting for xx%, 2018 accounted for xx%),
Source: VIRAC
Average payment period, 2018
Part VI. Business analysis
2. Financial analysis
79
CP Vietnam is the business with the largest average number of inventory days in 2018, reaching xx days because inventories account for a very large
proportion in the company's short-term asset structure (2018 accounted for xx%) and increased slightly by x% compared to 2017.
Source: VIRAC
Number of inventory days, 2018
Part VI. Business analysis
2. Financial analysis
80
• Most of the businesses in the group have slightly decreased business results compared to 2017.
Source: VIRAC
Profit ratio, 2017 - 2018
Part VI. Business analysis
2. Financial analysis
81
Emivest Feedmill has the lowest business results in 2018 compared to 2017, although the ROA and ROE index increased slightly because the price of live
hog has recovered since Q2/2018.
Part VII. Appendix
82
Content
90
Part VII. Appendix
ACCOUNTING BALANCE SHEET
Unit: VND 2017 2018
A. SHORT-TERM ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Current liabilities
1. Short-term borrowings and liabilities
2. Taxes and amounts payable to the state
II. Non current liabilities
1. Borrowings and long-term financial leased
liabilities
2. Provision for long-term payables
B. OWNER’S EQUITY
I. Owner’s equity
II. Other funding sources
TOTAL CAPITAL RESOURCES
INCOME STATEMENT
Unit: VND 2017 2018
Net revenue of goods sold and services provided
Cost of goods sold and services provided
Gross profit of goods sold and services provided
Revenue of financial activities
Financial expenses
Interest expenses
Selling expenses
Administrative expenses
Net profit of business activities
Total accounting profit before tax
Current corporate income tax expenses
Deferred corporate income tax expenses
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2017 2018
I. Cash flow from business activities
Net cash flow from business activities
II. Cash flow from investing activities
Net cash flow from investing activities
III. Cash flow from financial activities
Net cash flow from financial activities
Net cash flows during the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
Financial report – Thang Long Biological Technology Company Ltd.
91
Part VII. Appendix
Financial report – GREENFEED VietNam Joint Stock Company
ACCOUNTING BALANCE SHEET
Unit: VND 2017 2018
A. SHORT-TERM ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Current liabilities
1. Short-term borrowings and liabilities
2. Taxes and amounts payable to the state
II. Non current liabilities
1. Borrowings and long-term financial leased
liabilities
2. Provision for long-term payables
B. OWNER’S EQUITY
I. Owner’s equity
II. Other funding sources
TOTAL CAPITAL RESOURCES
INCOME STATEMENT
Unit: VND 2017 2018
Net revenue of goods sold and services provided
Cost of goods sold and services provided
Gross profit of goods sold and services provided
Revenue of financial activities
Financial expenses
Interest expenses
Selling expenses
Administrative expenses
Net profit of business activities
Total accounting profit before tax
Current corporate income tax expenses
Deferred corporate income tax expenses
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2017 2018
I. Cash flow from business activities
Net cash flow from business activities
II. Cash flow from investing activities
Net cash flow from investing activities
III. Cash flow from financial activities
Net cash flow from financial activities
Net cash flows during the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
92
Part VII. Appendix
Financial report – JAPFA COMFEED Vietnam Co., Ltd.
ACCOUNTING BALANCE SHEET
Unit: VND 2017 2018
A. SHORT-TERM ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Current liabilities
1. Short-term borrowings and liabilities
2. Taxes and amounts payable to the state
II. Non current liabilities
1. Borrowings and long-term financial leased
liabilities
2. Provision for long-term payables
B. OWNER’S EQUITY
I. Owner’s equity
II. Other funding sources
TOTAL CAPITAL RESOURCES
INCOME STATEMENT
Unit: VND 2017 2018
Net revenue of goods sold and services provided
Cost of goods sold and services provided
Gross profit of goods sold and services provided
Revenue of financial activities
Financial expenses
Interest expenses
Selling expenses
Administrative expenses
Net profit of business activities
Total accounting profit before tax
Current corporate income tax expenses
Deferred corporate income tax expenses
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2017 2018
I. Cash flow from business activities
Net cash flow from business activities
II. Cash flow from investing activities
Net cash flow from investing activities
III. Cash flow from financial activities
Net cash flow from financial activities
Net cash flows during the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
93
Part VII. Appendix
Financial report – C.P Vietnam Breeding Joint Stock Company
ACCOUNTING BALANCE SHEET
Unit: VND 2017 2018
A. SHORT-TERM ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Current liabilities
1. Short-term borrowings and liabilities
2. Taxes and amounts payable to the state
II. Non current liabilities
1. Borrowings and long-term financial leased
liabilities
2. Provision for long-term payables
B. OWNER’S EQUITY
I. Owner’s equity
II. Other funding sources
TOTAL CAPITAL RESOURCES
INCOME STATEMENT
Unit: VND 2017 2018
Net revenue of goods sold and services provided
Cost of goods sold and services provided
Gross profit of goods sold and services provided
Revenue of financial activities
Financial expenses
Interest expenses
Selling expenses
Administrative expenses
Net profit of business activities
Total accounting profit before tax
Current corporate income tax expenses
Deferred corporate income tax expenses
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2017 2018
I. Cash flow from business activities
Net cash flow from business activities
II. Cash flow from investing activities
Net cash flow from investing activities
III. Cash flow from financial activities
Net cash flow from financial activities
Net cash flows during the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
94
Part VII. Appendix
Financial report – Cargill Vietnam Company Limited
ACCOUNTING BALANCE SHEET
Unit: VND 2017 2018
A. SHORT-TERM ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Current liabilities
1. Short-term borrowings and liabilities
2. Taxes and amounts payable to the state
II. Non current liabilities
1. Borrowings and long-term financial leased
liabilities
2. Provision for long-term payables
B. OWNER’S EQUITY
I. Owner’s equity
II. Other funding sources
TOTAL CAPITAL RESOURCES
INCOME STATEMENT
Unit: VND 2017 2018
Net revenue of goods sold and services provided
Cost of goods sold and services provided
Gross profit of goods sold and services provided
Revenue of financial activities
Financial expenses
Interest expenses
Selling expenses
Administrative expenses
Net profit of business activities
Total accounting profit before tax
Current corporate income tax expenses
Deferred corporate income tax expenses
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2017 2018
I. Cash flow from business activities
Net cash flow from business activities
II. Cash flow from investing activities
Net cash flow from investing activities
III. Cash flow from financial activities
Net cash flow from financial activities
Net cash flows during the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
95
Part VII. Appendix
Financial report – Grobest Industrial (Vietnam) Ltd.
ACCOUNTING BALANCE SHEET
Unit: VND 2017 2018
A. SHORT-TERM ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Current liabilities
1. Short-term borrowings and liabilities
2. Taxes and amounts payable to the state
II. Non current liabilities
1. Borrowings and long-term financial leased
liabilities
2. Provision for long-term payables
B. OWNER’S EQUITY
I. Owner’s equity
II. Other funding sources
TOTAL CAPITAL RESOURCES
INCOME STATEMENT
Unit: VND 2017 2018
Net revenue of goods sold and services provided
Cost of goods sold and services provided
Gross profit of goods sold and services provided
Revenue of financial activities
Financial expenses
Interest expenses
Selling expenses
Administrative expenses
Net profit of business activities
Total accounting profit before tax
Current corporate income tax expenses
Deferred corporate income tax expenses
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2017 2018
I. Cash flow from business activities
Net cash flow from business activities
II. Cash flow from investing activities
Net cash flow from investing activities
III. Cash flow from financial activities
Net cash flow from financial activities
Net cash flows during the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
96
Part VII. Appendix
Financial report – UNI - PRESIDENT VIETNAM Co., Ltd
ACCOUNTING BALANCE SHEET
Unit: VND 2017 2018
A. SHORT-TERM ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Current liabilities
1. Short-term borrowings and liabilities
2. Taxes and amounts payable to the state
II. Non current liabilities
1. Borrowings and long-term financial leased
liabilities
2. Provision for long-term payables
B. OWNER’S EQUITY
I. Owner’s equity
II. Other funding sources
TOTAL CAPITAL RESOURCES
INCOME STATEMENT
Unit: VND 2017 2018
Net revenue of goods sold and services provided
Cost of goods sold and services provided
Gross profit of goods sold and services provided
Revenue of financial activities
Financial expenses
Interest expenses
Selling expenses
Administrative expenses
Net profit of business activities
Total accounting profit before tax
Current corporate income tax expenses
Deferred corporate income tax expenses
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2017 2018
I. Cash flow from business activities
Net cash flow from business activities
II. Cash flow from investing activities
Net cash flow from investing activities
III. Cash flow from financial activities
Net cash flow from financial activities
Net cash flows during the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
97
Part VII. Appendix
Financial report – De Hues Co., Ltd
ACCOUNTING BALANCE SHEET
Unit: VND 2017 2018
A. SHORT-TERM ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Current liabilities
1. Short-term borrowings and liabilities
2. Taxes and amounts payable to the state
II. Non current liabilities
1. Borrowings and long-term financial leased
liabilities
2. Provision for long-term payables
B. OWNER’S EQUITY
I. Owner’s equity
II. Other funding sources
TOTAL CAPITAL RESOURCES
INCOME STATEMENT
Unit: VND 2017 2018
Net revenue of goods sold and services provided
Cost of goods sold and services provided
Gross profit of goods sold and services provided
Revenue of financial activities
Financial expenses
Interest expenses
Selling expenses
Administrative expenses
Net profit of business activities
Total accounting profit before tax
Current corporate income tax expenses
Deferred corporate income tax expenses
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2017 2018
I. Cash flow from business activities
Net cash flow from business activities
II. Cash flow from investing activities
Net cash flow from investing activities
III. Cash flow from financial activities
Net cash flow from financial activities
Net cash flows during the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
98
Part VII. Appendix
Financial report – EMIVEST FEEDMILL VIETNAM Co., Ltd
ACCOUNTING BALANCE SHEET
Unit: VND 2017 2018
A. SHORT-TERM ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Current liabilities
1. Short-term borrowings and liabilities
2. Taxes and amounts payable to the state
II. Non current liabilities
1. Borrowings and long-term financial leased
liabilities
2. Provision for long-term payables
B. OWNER’S EQUITY
I. Owner’s equity
II. Other funding sources
TOTAL CAPITAL RESOURCES
INCOME STATEMENT
Unit: VND 2017 2018
Net revenue of goods sold and services provided
Cost of goods sold and services provided
Gross profit of goods sold and services provided
Revenue of financial activities
Financial expenses
Interest expenses
Selling expenses
Administrative expenses
Net profit of business activities
Total accounting profit before tax
Current corporate income tax expenses
Deferred corporate income tax expenses
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2017 2018
I. Cash flow from business activities
Net cash flow from business activities
II. Cash flow from investing activities
Net cash flow from investing activities
III. Cash flow from financial activities
Net cash flow from financial activities
Net cash flows during the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
99
Part VII. Appendix
Financial report – CJ VINA AGRI Co., Ltd
ACCOUNTING BALANCE SHEET
Unit: VND 2017 2018
A. SHORT-TERM ASSETS
I. Cash and cash equivalents
II. Short-term financial investments
III. Short-term receivables
1. Receivables from customers
IV. Inventories
B. LONG-TERM ASSETS
I. Long-term receivables
II. Fixed assets
TOTAL ASSETS
A. LIABILITIES
I. Current liabilities
1. Short-term borrowings and liabilities
2. Taxes and amounts payable to the state
II. Non current liabilities
1. Borrowings and long-term financial leased
liabilities
2. Provision for long-term payables
B. OWNER’S EQUITY
I. Owner’s equity
II. Other funding sources
TOTAL CAPITAL RESOURCES
INCOME STATEMENT
Unit: VND 2017 2018
Net revenue of goods sold and services provided
Cost of goods sold and services provided
Gross profit of goods sold and services provided
Revenue of financial activities
Financial expenses
Interest expenses
Selling expenses
Administrative expenses
Net profit of business activities
Total accounting profit before tax
Current corporate income tax expenses
Deferred corporate income tax expenses
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2017 2018
I. Cash flow from business activities
Net cash flow from business activities
II. Cash flow from investing activities
Net cash flow from investing activities
III. Cash flow from financial activities
Net cash flow from financial activities
Net cash flows during the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
1.2.1. Group specified on production
Vietnam Standards Regulation Group
National Technical Regulation Group
100
Part VII. Appendix
Group of regulations on the list of substances banned from use in animal feeds:
Provisions on the list of antibiotic content permitted for use in animal and poultry feeds:
101
Part VII. Appendix
Report Disclaimer
95
Report Disclaimer
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