Joint Stock Company Hoang Anh Gia Lai (HAGL) has announced its Q1 2025 financial results with revenue reaching 1,390 billion VND, a 12% increase compared to the same period last year. Net profit surged by 59% to nearly 341 billion VND, equating to approximately 3.8 billion VND per day. The profit increase is mainly attributed to strong banana sales and reduced financial costs thanks to bond repayments. The export price of bananas to China has also risen sharply, increasing over 10% following the announcement of U.S. tariffs. HAGL does not export to the U.S., focusing on markets in China, South Korea, and Japan, with banana prices reaching 12.5 USD per ton. HAGL benefits from rising agricultural prices and a high USD exchange rate, potentially recording positive exchange rate discrepancies since costs are primarily incurred in VND. As of March 31, 2025, HAGL’s total assets were approximately 23,478.5 billion VND, with cumulative losses above 80 billion VND.
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