Report

FMC – Shrimp export value may bottom out in Q2/2023

  • In the first five months of 2023, FMC's shrimp exports reached USD 68 million, down 29% YoY.
  • In Q2-FY2023, we forecast that FMC will achieve revenue and NPAT of VND 908 bn (or USD 40 mn, -10% QoQ, -36% YoY) and VND 77 bn (or USD 3.3 mn, - 32% YoY, +77% QoQ), respectively. While Q2/2023 results are continuing to decline sharply YoY, the improvement QoQ is mainly due to seasonality.
  • Overall, we believe that Q2/2023 will mark the lowest point for FMC's export sales. Considering the potential recovery in the second half of 2023 and the promising long-term growth prospects, we view FMC as a viable investment option for the latter part of the year. The target price for FMC is currently being updated.

 

Provider
Viet Dragon Securities
Viet Dragon Securities

Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.

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Analysts
Loan Nguyen

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