Pig farming drives Hoa Phat Agriculture’s revenue, profit

Vietnam’s Hoa Phat Agriculture in Q3 2026 recorded consolidated revenue of USD 65.40 million and profit after tax of USD 11.64 million, down 19% and 16% year-on-year, respectively.

In the first 9 months of 2026, the company fulfilled 70% of its full-year revenue plan and 94% of its full-year profit after tax plan. Of which, pig farming was the main driver, contributing the largest share to the company’s revenue and profit.

Revenue in Q3 2026 decreased compared to the same period in 2025, mainly due to lower sales volumes of pigs and cattle year-on-year. However, compared to Q2 2026, revenue still increased by 8%, driven by higher sales volumes of pigs, animal feed and chicken eggs.

Core business segments continue to maintain positive performance

The core business segments continued to maintain positive performance, helping Hoa Phat Agriculture’s gross profit margin reach 25% in both Q3 2026 and the first 9 months. Net profit margin reached 18% in Q3 2026, higher than the 17% recorded in the same period of 2025, and 19% for the first 9 months.

In Q3 2026, the company sold nearly 98,000 tons of animal feed and more than 151,000 pigs, and supplied more than 87 million chicken eggs to the market. Compared to Q2 2026, animal feed volume increased by nearly 8%, pig sales volume rose by 47% and egg output grew by more than 1%.

Pig farming

In pig farming, total sales volume in Q3 2026 reached more than 151,000 heads, up 47% compared to Q2 2026. Of which, commercial market pigs reached nearly 107,000 heads, up 41%; weaned pigs exceeded 44,000 heads, up 67%; and gilts exceeded 400 heads.

Hoa Phat Agriculture operates eight farms with a sow herd of 25,000 heads, maintaining 100% self-sufficiency in DanBred breeding stock, from GGP and PS to commercial pigs. Reproductive productivity reaches 33–34 weaned pigs per sow per year, 1.5 times the industry average.

Egg production

Egg output in Q3 2026 reached more than 87 million eggs, up nearly 5% compared to the same period in 2025 and more than 1% compared to Q2 2026.

On average, nearly 1 million eggs are brought to the market each day through traditional channels, supermarket systems, food factories, hotels, schools and exports.

Hoa Phat Agriculture maintains the No. 1 market share in clean chicken eggs in Northern Vietnam.

Cattle farming

In cattle farming, Hoa Phat Agriculture operates three farms in Hung Yen, Quang Tri and Dong Nai.

In addition to Australian cattle, the company has expanded its supply sources with Thai and domestic cattle, proactively securing supply to meet diverse market demand.

For Thai cattle, Hoa Phat has applied animal welfare standards similar to Australia’s ESCAS standards, widely regarded as one of the most stringent standards in the world.

Animal feed

For the first 9 months of 2026, Hoa Phat Agriculture sold more than 274,000 tons of animal feed. Of which, commercial sales to the market reached more than 143,000 tons, up nearly 11%, while the remainder was supplied to internal farms.

Total pig sales volume for the 9 months reached more than 365,000 heads, including nearly 247,000 commercial market pigs, nearly 117,000 weaned pigs and nearly 1,600 gilts.

Egg output for the 9 months reached nearly 258 million eggs, up nearly 3% year-on-year.

2026 revenue plan

In 2026, Hoa Phat Agriculture set a plan for revenue of USD 279.46 million and profit after tax of USD 39.01 million, with a focus on expanding pig farming and increasing animal feed output.

Amid rising raw material prices and loan interest rates remaining high, the company is concentrating on stabilizing production and cutting costs to enhance competitiveness.