The secretive group operating in the animal health care industry in Vietnam of businessman Pham Dinh Doan
For a long time, for livestock farmers in Vietnam, GreenGroup's veterinary services and products have been familiar. This is a Vietnamese enterprise that is considered to have international stature, with more than 20 years of establishment, has been importing and distributing to over 40 suppliers from 5 continents with nearly 400 products. Currently, GreenGroup has more than 2,000 dealer systems, over 10,000 farms, 40 domestic and foreign partners, level 1 and 2 dealers are long-term partners.
Mr. Pham Dinh Doan - Chairman of Phu Thai Holdings signed a strategic cooperation agreement with Caterpillar representative
Greengroup, formerly known as Green Veterinary Joint Stock Company, was established in 2001. After more than 20 years of operation, it can be said that Greengroup has affirmed its brand and become one of the largest corporations in the animal health care industry in Vietnam with a variety of products provided by companies in the ecosystem such as: Vietnam Green Veterinary Joint Stock Company (Greenvet., JSC), Vietnam Green Pharmaceutical Joint Stock Company (GreenPharma), GreenPet, Greenbiovet, Greenlab, Medion Vietnam Joint Stock Company...
One of the key factors that brought success to GreenGroup is Vietnam Green Veterinary Joint Stock Company (Greenvet., JSC). The company has cooperated with more than 20 major suppliers in the world , owns the first GMP-WHO international standard veterinary medicine factory in the North, a Miavit factory producing additives and animal feed ingredients, a logistics system of 9 offices and warehouses; 40 specialized trucks operating professionally throughout the country and becoming the leading veterinary brand in Vietnam.
Especially in September, the first export container of Greeevet officially went to the Iraqi market. The cooperation between Greenvet and West Farm Company (Iraq) is an important event, marking the turning point of Greenvet with its entry into the export market after more than 20 years of establishment. The export order includes 35 outstanding product categories of Greenvet, including all groups of antibiotics, injections, and supplements for livestock and poultry, with a total quantity of up to 133,907 products.
Making huge profits just by specializing in selling veterinary medicine, how is Greenvet doing business?
When it comes to businessman Pham Dinh Doan, everyone knows that he is currently the Chairman of the Board of Directors of Phu Thai Holdings - a corporation operating in the fields of trade, business and distribution of consumer products. However, not many people know that Mr. Pham Dinh Doan is also the "owner" of Greengroup, one of the largest corporations in the animal health care industry in Vietnam. According to the investigation of the Journalist & Public Opinion Newspaper, the main nucleus of this corporation is the Vietnam Green Veterinary Joint Stock Company (Greenvet., JSC).
According to the self-introduction on the company's official website, this brand was established in 2002. However, it is known that the company was established on June 29, 2007, with its registered business headquarters at Lot A2CN4, Tu Liem Industrial Park, Phuong Canh Ward, Nam Tu Liem District, Hanoi City. The current legal representative is Mr. Bach Quoc Thang. In addition, Mr. Thang also represents the companies: Medion Vietnam, Greenlab Vietnam, both located at Phu Thi Small and Medium Concentrated Industrial Park, Phu Thi Commune, Gia Lam District, Hanoi City.
It is known that at the end of 2022, Greenvet had a charter capital of 35 billion VND but its equity was up to 114 billion VND thanks to undistributed profits after tax accumulated over many years. With abundant capital, the group has very little debt. Total liabilities as of December 31, 2022 were only 50 billion VND, less than half of its equity.
Interestingly, in recent years, Greenvet's scale has barely expanded as its liabilities have been continuously reduced. By the end of 2022, the group's total assets stood at VND164 billion, an increase of VND40 billion after a year but only equal to the end of 2020. The figure is even much lower than Greenvet's scale at the end of 2018.
Although not too large in scale, Greenvet operates relatively effectively with regular revenue maintained at over 300 billion VND over the past 5 years. Except for 2021, the company's revenue suddenly dropped sharply to 273 billion VND but quickly increased again to over 300 billion a year later.
Revenue increased but Greenvet's profit in 2022 decreased by more than 25% compared to the previous year to 101 billion VND. The net profit margin is about 33%, meaning that every 3 VND of revenue brings in 1 VND of profit. Although still profitable every year, Greengroup's profit fluctuates erratically and is not in line with revenue. This is quite strange for a business with a low debt ratio like this group of businessman Pham Dinh Doan.
Journalist & Public Opinion Newspaper will continue to inform readers about the business activities of enterprises in the ecosystem of businessman Pham Dinh Doan in the following articles.
Businessman Pham Dinh Doan is currently the Chairman of the Board of Directors of Phu Thai Holdings - a corporation operating in the fields of trade, business and distribution of consumer goods. The businessman born in 1964 is considered one of the founders of the modern retail model in Vietnam.
Currently, businessman Pham Dinh Doan has built an ecosystem that spans the country in various fields from distribution of fast-moving consumer goods, industrial machinery and engines, automobiles, fashion , production and trading of veterinary medicine, development of real estate projects, technology companies and startups, lifestyle, education, etc.
Besides Phu Thai Holdings, the ecosystem in the hands of Mr. Pham Dinh Doan also has a series of other notable names such as: Phu Thai Industrial Company Limited (Phu Thai CAT) - the only official dealer of Caterpillar in Vietnam. Caterpillar is the world's largest corporation manufacturing construction and mining machinery, generators, diesel engines, marine engines and forklifts...; Phu Thai Investment Joint Stock Company (Phu Thai Investment), Phu Thai Agriculture Joint Stock Company (Phu Thai Agrico), Kowil Vietnam Fashion Joint Stock Company, Phu Thai Health and Beauty Care Joint Stock Company (Phu Thai HBC)...
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