PAN Group plans 53% growth in consolidated net profit and expansion into real estate business

PAN Group (PAN Group, MCK: PAN, HOSE) will hold its 2026 Annual General Meeting of Shareholders on April 21. For 2026, the company targets net revenue of VND 18,000 billion, up 2% year-on-year, and expects consolidated net profit after tax of VND 1,780 billion, up 53% from 2025. The company also plans to register additional real estate business activities.

Business plan drivers and profit recognition

PAN said its 2026 business plan includes profit recognized from the transfer of Bibica shares to Bibica Capital in line with applicable accounting standards. The company estimates this contribution at about VND 500 billion in both consolidated and parent company financial statements.

In addition, PAN expects total profit and dividends from Bibica to exceed VND 1,100 billion.

Subsidiary outlook for 2026

By subsidiary, Vinaseed is expected to be a key growth driver in 2026, with revenue forecast to rise about 24% and pre-tax profit up 14% year-on-year, supported by stabilization in the seed and staple crops market and improved operating efficiency and distribution network.

For the seafood group, Sao Ta (FMC) is forecast to achieve roughly 10% profit growth in the base scenario. ABT (Ben Tre) plans revenue growth of 9% and pre-tax profit growth of 5%.

At Long An Export Processing Company (LAF), PAN expects revenue to rise 14% and pre-tax profit 11%. Meanwhile, 584 Nha Trang is projected to grow revenue 25% and pre-tax profit 14%.

2025 results and dividend policy

Previously, PAN Group reported 2025 net revenue of VND 17,586 billion, equivalent to 102% of its plan. After-tax profit reached VND 1,165 billion, or 96% of the plan.

For dividends, PAN proposed no dividend for 2025. For 2026, the company expects cash dividends of up to 30%.

Planned adjustments to business lines

PAN Group proposed adjusting several business lines, including removing management consulting, flour-based bakery products, and cocoa, chocolate, and confectionery production. The company plans to add management consulting services and other management consulting and real estate activities.

PAN said the changes align with its strategy following Bibica’s divestment.

Related transactions and land acquisition

Earlier in March, PAN Group approved a resolution to acquire land plot 208, map 21, at Dong Da Street, Hai Chau Ward, Da Nang City (formerly Thach Thang Ward, Hai Chau District). The transfer price was determined based on Appraisal Report No. 223/2026/64 dated February 27, 2026 issued by Vietnam Appraisal and Quality Control Joint Stock Company, effective at the time of signing and completing the transaction. The transferor was Bibica.

PAN Group will pay all taxes, fees and other costs related to the transfer.

Earlier, on January 31, 2026, PAN announced the completion of transferring more than 18.4 million shares, equal to 100% of Bibica’s charter capital, to Bibica Capital, a newly established single-member limited liability company, to complete the capital contribution procedures.

Source: Hà Ly