HAGL Agrico (HNG) recently reported its Q1 2025 financials, showing continuing losses with accumulated losses reaching nearly 9.5 trillion VND, despite no longer selling below cost. The company anticipates additional losses of 854 billion VND in 2025 but hopes to achieve profits from core business operations. High expenses from orchard conversions and depreciation remain significant burdens.
Billionaire Tran Ba Duong stated that HAGL Agrico requires time to break even. He emphasized that increasing banana yield and reducing care costs are crucial for the company to stop incurring losses. HAGL Agrico plans to plant an additional 2,026 hectares of bananas in 2025, aiming to expand to 3,000 hectares by 2026.
Nevertheless, Thaco remains committed to investing in HAGL Agrico, hoping to leverage the brand’s potential in Cambodia and Laos, along with a large agricultural project that could generate revenues of USD 800 million per year. Meanwhile, logistics operations in Laos and Cambodia are also a focus for Thaco.
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