At the award ceremony (Photo: SABECO) The General Department of Taxation under the Ministry of Financelast week organised a conference praising "Outstanding taxpayers for theperiod 2020-2022" to honour 138 businesses with great contributions to theState budget revenue amid global economic challenges during the COVID-19pandemic.
Thanks to ensuring the “dual goal” of maintaining production andbusiness during the pandemic towards sustainable development, SABECOcontributed 11 trillion VND (445.5 million USD) to the State budget in the reviewedperiod, one of the highest in the group of beverage manufacturers.
According to a representative of the General Department ofTaxation, the criteria to consider and commend typical taxpayers include goodcompliance with tax laws; making significant contributions to the State budgetand good implementation of digital transformation programmes.
At the conference, Minister of Finance Ho Duc Phoc appreciatedSABECO and other businesses for their positive contributions to the statebudget during the period 2020–2022, especially their realistic, effective, andtimely support in preventing the spread of the pandemic, contributing to thesocio-economic development.
During 2020–2022, the world economic and political situationfaced lots of challenges. In fact, global production and business activitieswere seriously affected by the outbreak and prolonged pandemic.
However, SABECO managed to achieve the after-tax profits of 5.5trillion VND in 2022, posting a 40% year-on-year increase. Gross profit margincontinued to improve from 28.8% to a record high of 30%, despite rising inputcosts.
SABECO has striven to maintain production to promote economicdevelopment and stabilise jobs for workers during the most difficult times ofthe pandemic.
To achieve the goal of maintaining operations during difficulttimes of the pandemic, SABECO synchronously implemented many strict preventionplans and scenarios, ensuring a stable supply of goods in the market. Thebusiness continuity plan had been activated by SABECO throughout the system.
Thanks to proactively performing forecasting work from thebeginning, the source of raw materials and fuels for production was thereforenot disrupted, and co-ordination and continuous operation were closelymonitored to flexibly change. Due to maintain continuous production activities,SABECO has supported customer partners and suppliers to stabilise theirbusiness. At the same time, SABECO also maintained support for partners in thesame system through purchasing goods.
The impressive results reflected SABECO's persistent resilienceand strong recovery after the COVID-19 pandemic. Currently, the corporation ismaintaining jobs for about 13,000 direct workers and thousands of indirectworkers throughout the system.
With the motto of business development coupled withsustainability, during the pandemic, SABECO joined hands with the VietnameseGovernment to support workers, employees, and small businesses affected byCOVID-19, while at the same time providing medical equipment for front-linemedical forces through campaigns such as 'Rise with Vietnam', 'Community Care',and 'Collecting a Million Star' in 2020 and 2021.
In 2023, SABECO targeted the revenue of 40.3 trillion VND andafter-tax profit of 5.7 trillion VND, increasing 15.1% and 5%, respectively,over the same period last year.
Committed to sustainable development
With a commitment to bring pride to Vietnam, SABECO's sustainabledevelopment model focuses on four goals: Consumption - Conservation - Country -Culture. This 4C model was developed with four main elements: encouragingconsumers to consume beer responsibly; business and production activities withthe principles of conservation and environmental protection; contribute to thesustainable development of the country and promote traditional Vietnamesecultural values.
As one of the largest corporations in Vietnam, SABECO is aware ofits responsibility in the country's development process.
Currently, SABECO owns 26 factories with a capacity of about 2.2billion litres a year, a network of hundreds of thousands of sales pointsspread across the country and exports to 30 countries around the world. Thecorporation has a portfolio of beer brands that are favoured by Vietnameseconsumers such as Lac Viet Beer, Saigon Chill Beer, 333 Beer, Saigon Special Beer,Saigon Export Beer, Saigon Lager Beer and Saigon Gold Beer./.
VNA
