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 / Industry
ThaiBev earns over US$100 million in net profit after Sabeco investment
Ngoc Mai 15:47, 2018/11/06
The amount did not include the 35% of prepayment of 2018 dividends or VND2.24 trillion (US$96.49 million) that ThaiBev is expected to receive in the remaining months of 2018.
Six months since ThaiBev acquired a major stake in Saigon Beer Alcohol Beverage Corp (Sabeco), Vietnam’s leading brewer contributed VND20.32 trillion (US$875.19 million) in revenue and net profit of VND2.36 trillion (US$101.64 million) to Thailand’s beverage producer. 
 
Illustrative photo.
Illustrative photo.
The amount did not include the 35% of prepayment of 2018 dividends or VND2.24 trillion (US$96.49 million) that ThaiBev is expected to receive in the remaining months of 2018, VnExpress cited ThaiBev's financial statement as saying. 

Thanks to positive business performance of Sabeco and its affiliates, ThaiBev – controlled by tycoon Charoen Sirivadhanabhakdi – posted net revenue from sales of goods in the January – June period at VND122.37 trillion (US$5.27 billion), up 22% year-on-year.

Of the total, sales of liquor products amounted to VND82.44 trillion (US$3.55 billion), contributing 67.36% of the total revenue, followed by beer products with 40% of revenue, equivalent to VND69.78 trillion (US$3 billion). 

According to ThaiBev, while the beer consumption in the Southeast Asia has been slowing down, Sabeco still maintains an impressive growth rate. 

Last December, the Vietnamese government sold nearly 54% stake or 343.42 million shares in Sabeco to ThaiBev through its local unit Vietnam Beverage for US$4.89 billion. ThaiBev secured the fund necessary for the deal by borrowing US$3.05 billion from local banks, including Bangkok Bank, Kasikornbank Public, Krung Thai Bank, Bank of Ayudhya, and Siam Commercial Bank, with two-year terms. 

BeerCo, ThaiBev’s wholly-owned subsidiary, also borrowed US$1.95 billion from Mizuho Bank and Standard Chartered Bank’s Singapore branch to help finance the deal. 

In 2017, Sabeco alone produced 1.77 billion liters of beer, an increase of 6.6% year-on-year, while the second largest domestic brewer, Habeco (18% market share), brewed 657.6 million liters, down 6.5%.
Comments
Other news
22:59, 2024/12/24
Hanoi to attract US$768 million in industrial parks in 2024
Companies in Hanoi highlighted the significant improvements in the business environment in Vietnam, particularly in the capital, where it has become easier to operate in the industrial zones.
21:35, 2024/12/21
Regulatory efforts underway to strengthen e-commerce in Vietnam
By 2025, Vietnam's e-commerce is expected to reach 10% of retail sales and contribute to the digital economy which is estimated to account for 20% of GDP.
16:51, 2024/12/14
Hanoi honors key industrial products in 2024
This recognition is a testament to the city government's ongoing support of local businesses.
18:09, 2024/12/12
EVs take the spotlight on Vietnam's urban streets
On the streets of Hanoi, a quiet but powerful shift in transportation is underway.
13:43, 2024/12/12
Hanoi names 83 institutions Green Energy User 2024
More than 80 facilities and projects have been recognized for their innovative use of green energy in manufacturing.
12:07, 2024/12/09
Bat Trang artisans innovate to meet global market demands
To boost competitiveness, Bat Trang pottery businesses leverage information technology for product promotion.