May 8, 2026
 

GreenFeed Vietnam posts VND3.66 trillion profit in 2025, outpacing listed peers as integrated model matures

The privately-held agribusiness quietly emerges as one of Vietnam's most profitable livestock companies, backed by foreign capital and a rapidly expanding farm-to-food ecosystem.

GreenFeed Vietnam JSC reported after-tax profit of VND3.656 trillion (US$138.7 million) for 2025, up more than 70% year-on-year, surpassing the earnings of listed peers including Hoa Phat Agriculture, Dabaco and BAF Vietnam as its integrated 3Fplus model continues to scale.

The Ho Chi Minh City-based company, established in 2003, has undergone a significant transformation since 2022, when Hong Kong-based Oriental Ford Holding acquired a controlling stake of over 66% and new management under chairman and chief executive Ly Anh Dung accelerated capital expansion and operational restructuring. Charter capital has since grown from VND1 trillion to over VND5.125 trillion by end-2025, with equity reaching VND9.2 trillion, comfortably ahead of most domestic peers.

GreenFeed now operates 12 production facilities, comprising nine animal feed factories, two slaughterhouses and food processing plants, and one veterinary medicine factory, alongside a network of approximately 40 livestock farms across Vietnam. Annual feed production capacity exceeds 2.5 million tonnes, with an additional 300,000 tonnes of aquatic feed. Products are sold across 20 markets, supported by a workforce of around 4,600 people and an in-house logistics network.

At the consumer end of the chain, the company markets chilled meat under the G, Wyn and LeBoucher brands, deepening its presence in retail and food service channels. International operations include a feed factory in Cambodia commissioned in 2015.

Total liabilities stood at nearly VND6.9 trillion at year-end, with bank borrowings and bonds accounting for a relatively modest share of that figure, pointing to a largely operationally-funded balance sheet.

The strong 2025 result marks a sharp departure from the VND200–300 billion profit range the company recorded annually between 2021 and 2023, reflecting both the benefits of scale and the improving margin profile of its downstream food operations.