Nova Consumer Group Joint Stock Company (Nova Consumer) has just held its 2022 Annual General Meeting of Shareholders on the morning of May 31.

Accordingly, the General Meeting of Shareholders approved the revenue and after-tax profit plan this year, expected to grow by 27% and 3.85%, respectively. In the period of 2022-2026, profit will reach 1,300-1,500 billion VND. Capitalization will exceed 1 billion USD in the next three years. The plan to list shares with the stock code NCG on HoSE is expected to be implemented in June.

Regarding the proportion of revenue this year, Nova Consumer expects about 90% to still come from agricultural products. However, in the business expansion strategy until 2025, the proportion of revenue from agriculture will only be 60% and the proportion of revenue from the consumer goods industry will increase. This enterprise will continue to expand its core business of agriculture to provide comprehensive livestock solutions to customers, including breeding animals, animal feed, veterinary medicine - vaccines and farms, while strongly developing the fast-moving consumer goods sector, completing the 3F chain.

Mr. Nguyen Hieu Liem, Chairman of the Board of Directors of Nova Consumer, spoke at the 2022 Annual General Meeting of Shareholders. Photo: NCG

​Nova Consumer will expand the number of pig farms to 5 times the scale in the next three years, developing Mega Farms of 500-600 hectares, with a capacity of tens of thousands of sows and hundreds of thousands of fattening pigs at each Mega Farm. Currently, this enterprise has modern equipment, automatic production lines, meeting WHO-GMP standards, through a network of more than 1,000 distribution locations from North to South and exporting to more than 27 international markets.

It is expected that in the next three years, three animal feed factories will operate at maximum capacity to supply the Mega Farms. Mr. Nguyen Hieu Liem, Chairman of the Board of Directors of Nova Consumer, said that the enterprise will cooperate comprehensively with famous breeding companies from the US, Canada, Denmark... to create breeding animals with high productivity and quality, suitable for breeding conditions in Vietnam.

Nova Consumer's factory cluster. Photo: NCG

​To expand the consumer sector, the company continues to promote M&A. With VND479 billion raised from the initial public offering, Nova Consumer will acquire Sunrise Foods, thereby indirectly owning Anco Family Food - a unit with a nationwide distribution system with 80,000 traditional retail points and more than 4,000 points of sale in supermarkets. This deal will be completed next June, helping Nova Consumer enter the consumer goods industry, while completing the 3F chain.

"This strategy helps the company to be self-sufficient in input factors, close the production chain and avoid external impacts, control the origin and quality of livestock inputs, and ensure the highest output quality. Thanks to the closed production model, Nova Consumer can maximize the company's profit margin, while creating momentum to help traditional business segments develop remarkably," said the company's leader.

​From 2025, Nova Consumer will strongly develop O2O (Online to Offline) distribution platforms, helping to connect distributors and stores with this business, thereby creating direct links to 250,000 points of sale and indirectly up to over 400,000 points of sale.

As a member of NovaGroup, Nova Consumer's target customers come from hundreds of thousands of residents living in more than 30 large urban areas invested and developed by Novaland; more than 500 stores of food chains operated by Nova FnB, serving about 20 million customers per year; more than 2,000 supermarkets, convenience stores, fresh food stores across the country, serving 150 million customers per year operated by Nova Commerce...

View of Nova Consumer's 2022 Annual General Meeting of Shareholders. Photo: NCG

​From now until the end of 2022, this enterprise will recruit more than 5,000 skilled workers to work at economic establishments and more than 20,000 indirect jobs in the supply chain. By 2025, Nova Consumer will recruit nearly 10,000 skilled workers and more than 30,000 indirect jobs in the supply chain.

In 2021, Nova Consumer recorded net revenue and after-tax profit of more than VND 3,500 billion and more than VND 317 billion, respectively. The company's total consolidated assets reached more than VND 3,696 billion with equity of more than VND 2,273 billion.

See more at: https://vnexpress.net/tieu-dung-se-chiem-40-doanh-thu-cua-nova-consumer-4470327.html