CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Sabeco reports US$48.2 million in profit
Nguyen Tung 16:29, 2018/05/03
In the first quarter, Saigon Beer Alcohol Beverage (Sabeco) posted its profit at VND1.1 trillion (US$48.2 million), down 1.1% year on year, according to the company`s consolidated financial statement.
Following the report, Vietnamese largest domestic brewer's revenue from January to March reached VND7.8 trillion (US$342 million), up 4.6% year on year. 
 
Sabeco reports US$48.2 million in profit.
Sabeco reports US$48.2 million in profit.
As at March 31, Sabeco's total assets worth VND20.7 trillion (US$907.7 million), down 5.6% compared to the year beginning, in which short-term assets accounted for VND12.5 trillion (US$548 million) and long-term assets of VND8.1 trillion (US$355 million).

The brewer also estimated its debt payable at VND5.2 trillion (US$228 million), down 31% compared to the year beginning. Notably, the company's short-term debt witnessed a decrease of 32% to VND5 trillion (US$219 million).

Currently, the Ministry of Industry and Trade and Vietnam Beverage, a local unit where ThaiBev hold major shareholdings, own approximately 89.6% of Vietnam's largest brewer. The rest is owned by Dragon Capital and some other investors. 

Last December, Sabeco sold nearly 54% stake to Vietnam Beverage for US$4.89 billion. ThaiBev, controlled by tycoon Charoen Sirivadhanabhakdi, through its local unit Vietnam Beverage, purchased 343.42 million shares at the starting price of US$14.05. The only other bidder, a Vietnamese individual, bought 20,000 shares, or 0.003%, at a price of US$14.07 each. 

The Sabeco deal is said to allow ThaiBev to boost its chain of investments in Vietnam. Through its Fraser and Neave Ltd. investment unit, it also holds a 16% stake in Vinamilk, the country's largest dairy firm and 49% stake in a Vietnamese food and beverage company, Vietnam F&B Alliance Investment Joint Stock Co. 

Sabeco in 2017 has produced 1.77 billion liters of beer alone, an increase of 6.6% year-on-year, while the second largest domestic brewer, Hanoi Alcohol Beer and Beverage (Habeco), made 657.6 million liters, down 6.5%, according to Vietnam Beer Alcohol and Beverage Association (VBA).

In 2018, Sabeco set the target of increasing domestic market share to 42% and production to 1.84 billion liters, informed Sabeco at its shareholder meeting on January 12.

Sabeco expects to earn VND39.3 trillion (US$1.73 billion) in revenue in 2018, with net profit of VND 4.9 trillion (US$217 million), which is translated into growth rates of revenue and net profit of 11 and 2%, respectively. 

Beer consumption in Vietnam was estimated to be over 4 billion liters, up 260,000 liters (6%) against 2016, according to VBA. 
Comments
Other news
18:45, 2024/11/28
Vietnam, Hesse (Germany) promote high-tech cooperation
Bilateral trade between Vietnam and Hesse has reached around EUR1 billion (US$1.05 billion) annually, accounting for one-tenth of total trade between Vietnam and Germany.
15:34, 2024/11/27
Big discounts on offer at Hanoi's November Promotion Festival
The event is part of the Hanoi Concentrated Promotion Program 2024, held in May, July, and November, attracting up to 2,000 businesses.
17:23, 2024/11/26
Hanoi unveils 150 most popular Vietnamese products and services for 2024
The "Most Popular Vietnamese Products" voting program is part of the city's broader efforts to encourage the consumption of local goods.
16:50, 2024/11/23
Hanoi hosts the Vietnam Regional Specialties Fair 2024
This year's fair will contribute to the promotion of trade and the expansion of typical regional products, especially agricultural and food products that meet export standards.
14:06, 2024/11/20
Hanoi strengthens export competitiveness and trade protection measures
Hanoi will work with the Ministry of Industry and Trade to ensure that businesses and manufacturers are ready for new challenges.
10:49, 2024/11/16
US reiterates Vietnam is not manipulating currency
The US Treasury Department’s positive evaluation underscores Vietnam’s progress in balancing its economic and monetary policies while fostering strong bilateral relations with the US.