Several of Vietnam’s major seafood companies posted strong financial results in the third quarter of 2025, with multiple companies reporting large profit spikes and some returning to profit after earlier losses.
Pangasius exporting firm Nam Viet’s (Navico) Q3 revenue rose 49 percent year over year in the period to VND 2 trillion (USD 75.9 million, EUR 65.6 million), driven by an increase in sales volume and prices. Its net profit in the quarter also jumped to VND 283 billion (USD 10.7 million, EUR 9.3 million), which was 10 times higher than the same period last year.
Beside its pangasius business, Navico is actively expanding into tilapia exports. On 5 July, it signed a strategic cooperation agreement with Brazilian food import firm AV09 Comercio Exporter to supply pangasius and tilapia to the South American nation. Navico officially dispatched its first 24-metric-ton (MT) shipment of tilapia to Brazil on 6 November.
Vietnam’s largest pangasius export firm, Vinh Hoan, also saw its Q3 revenue surge 6 percent year over year to VND 3.47 trillion (USD 131.7 million, EUR 113.8 million). Its net profit rose about 35 percent to VND 433 billion (USD 16.4 million, EUR 14.2 million), fueled by foreign exchange gains and lower interest expenses, among other factors.
In an October company update, Vinh Hoan said its sales value in the month increased 18 percent compared to September to VND 1.08 trillion (USD 40.9 million, EUR 35.4 million). However, sales dropped 11 percent year over year, dropping in key markets such as the U.S., Vietnam, Europe, and China.
Two other smaller pangasius companies also reported a rise in their sales and profits in Q3.
Ben Tre Aquaproduct Import and Export (ABT) posted a 27 percent spike in Q3 revenue to VND 193 billion (USD 7.3 million, EUR 6.3 million) and net profit more than doubling to VND 40.2 billion (USD 1.5 million, EUR 1.3 million). Cuu Long An Giang (ACL) reported a Q3 revenue increase of 30.5 percent to VND 542 billion (USD 20.6 million, EUR 17.8 million) and net profit of nearly VND 14 billion (USD 532,000, EUR 460,000), nearly quadrupling year over year.
In the shrimp sector, leading export firm Minh Phu posted a notable turnaround in Q3, returning to profit after earlier losses. Although its Q3 revenue fell 13 percent year over year to VND 3.8 trillion (USD 143.6 million, EUR 124.1 million), its net profit rose to VND 228 billion (USD 8.7 million, EUR 7.5 million), compared with a loss of VND 90.1 billion (USD 3.4 million, EUR 2.9 million) a year earlier.
Minh Phu CEO Le Van Quang told SeafoodSource that the growth in net profit was achieved thanks to the company’s proactive expansion of value-added production and sales, which helped improve its gross margin. He added that the company expects to deliver similar results in Q4.
Sao Ta (Fimex) recorded Q3 revenue of VND 2.98 trillion (USD 113.4 million, EUR 98.3 million), which was up 5.3 percent year over year, while net profit surged 18 percent to VND 111.9 billion (USD 4.3 million, EUR 3.7 million) thanks to an increase in sales and lower cost of goods sold.
Fimex said in October that it produced 2,570 MT of processed shrimp, marking a nearly 38 percent increase year over year, and exported 2,153 MT, which was 5 percent higher year over year.
The strong performance of pangasius and shrimp companies in Vietnam occurred as the country’s seafood production in Q3 also spiked to 2.71 million MT, which was up 3.3 percent year over year. Aquaculture output in particular rose 5.5 percent year over year, driven by growth in shrimp and pangasius farming, data from Vietnam’s General Statistics Office showed.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the value of Vietnam’s seafood exports grew 10 percent year over year to USD 2.7 billion (EUR 2.3 billion) in Q3; however, that growth rate was lower than the first two quarters of 2025. VASEP cited the 20 percent reciprocal U.S. tariff as the main reason for the drop and said the duty prompted exporters to adjust shipment plans and seek alternative markets.
Shrimp remained the top seafood export product by value in the quarter, rising 22 percent year over year to USD 3.4 billion (EUR 2.9 billion) and reaching the highest level in three years. Pangasius exports increased 9 percent to USD 1.6 billion (EUR 1.4 billion).
In Q4, exporters have been encountering mounting challenges due to the continuation of U.S. tariffs, stricter traceability and marine mammal protection (MMPA) rules, the E.U.’s unresolved yellow card restrictions on Vietnam, exchange rate volatility, and higher logistics costs. Therefore, VASEP expects the value of Vietnam’s Q4 seafood exports to slow sharply to about USD 2.19 billion (EUR 1.9 billion), which would be down more than 22 percent from a year earlier.
