HAGL Agrico unexpectedly stops selling below cost after shareholder “questioning”, Q1 2025 incurs an additional loss of 84 billion, cumulative losses nearly 9,500 billion

Hoang Anh Gia Lai International Agriculture (HAGL Agrico, stock code HNG) announced its consolidated financial report for Q1 2025, with a net revenue of 99 billion dongs, up 6% year-on-year. Revenue from fruit sales reached 67 billion dongs, up 62%. The company stated it has stopped selling below cost, but still incurred a net loss of 84 billion dongs, increasing cumulative losses to 9,469 billion dongs. Previously, HAGL Agrico’s sales below cost led to severe losses, an issue raised by shareholders. Despite the financial report suggesting the company was selling below cost, Chairman Tran Ba Duong insisted that the company still profited when accounting for actual costs. In 2025, HAGL Agrico projects an additional loss of 854 billion dongs primarily due to the costs of converting orchards and depreciation. The company manages 35,757 hectares of land dedicated to crops including bananas, mangoes, rubber, and operates 18 cattle farms. As of March 31, 2025, total assets reached 17,395 billion dongs with total debt reaching 10,129 billion dongs.