Hanoi(VNS/VNA) - Saigon Beer-Alcohol-Beverage Corporation (SABECO) (HOSE: SAB) has been honoured as one of the Top 50 Best Listed Companies in 2024 by Forbes Vietnam magazine, marking its 7th consecutive inclusion.
The brewer retained its place with revenues of 30.4 trillion VND (1.2 billion USD) and a profit of 4.1 trillion VND, reaching 76% and 74% of the targets set at the 2023 shareholders' meeting, respectively.
The list highlights prominent businesses across various sectors, including well-established companies that have been publicly traded for many years.
The Forbes Top 50 Best Listed Companies were chosen through a meticulous evaluation process. This began with a preliminary screening based on key financial criteria, including profitability in 2023 and a minimum revenue and market cap of 500 billion VND. The selection was then refined through scoring on various factors, such as revenue growth, profitability, return on equity (ROE), return on capital (ROC) and earnings per share (EPS) growth from 2019 to 2023.
SABECO has implemented advanced production and operational solutions while adhering to Environmental, Social and Governance (ESG) principles, resulting in positive and sustainable growth. The company has achieved the highest profit for seven consecutive quarters and demonstrated strong business performance in the first half of 2024.
For 2024, SABECO targets revenues of 34.5 trillionnVND, a 12.9% increase compared to the previous year, and an expected after-tax profit of 4.58 trillion VND, reflecting a 7.6% growth over 2023.
In the first quarter of 2024, SABECO reported a 15.6% increase in revenue to 7.1 trillion VND and a 2% rise in after-tax profit to more than 1 trillion VND, achieving 22.4% of the annual profit target. In the second quarter, the company generated revenue of 8 trillion VND, a 97.3% increase from the same period last year, with after-tax profit growing by 9% to 1.3 trillion VND. The gross profit margin also improved from 29.9-30.2 %. These results reflect SABECO's effective management and cost reduction efforts, enhancing overall business efficiency.
New milestones to strengthen sustainable business
Looking ahead, SABECO is committed to maintaining its strong domestic presence while expanding internationally. The company is focused on research and development to enhance product quality and introduce new product lines, reinforcing its commitment to sustainable business practices.
Earlier this month, SABECO launched 333 Pilsner, underscoring the company's dedication to continual innovation in providing top-notch products that cater to the evolving preferences of Vietnamese consumers.
Leveraging the expertise of its Vietnamese brewmasters who possess an in-depth grasp of local tastes, SABECO incorporated European technology along with premium imported ingredients to craft a new beer boasting exceptional aroma, flavour and remarkable drinkability.
333 Pilsner marks the first addition to Bia 333's range – one of the pioneering beer brands of Vietnam.
SABECO and all four of the beers it entered have received awards for their taste and quality, as voted by the experts at the 2024 World Beer Awards.
While Bia Saigon Export Premium and Bia Saigon Special took silver, Bia Lac Viet and Bia Saigon Export were honoured with gold medals and acknowledged as the best of their varieties in Vietnam. Bia Lac Viet was also granted the title of 'World’s Best Lager Light', recognising it as the best beer in the world with an ABV range from 2.6% to 4.5%.
This esteemed recognition celebrates SABECO’s commitment to excellence, innovation and quality in brewing.
All of SABECO’s beers have been praised for their exceptional craftsmanship. Crafted with a meticulous selection of ingredients and advanced brewing techniques, SABECO’s beers deliver a delightful balance of subtle hop bitterness and malty sweetness. They are perfect for beer enthusiasts who seek a lighter yet flavorful experience.
According to Kantar's Vietnam's Brand Footprint 2024 report, the Saigon Beer brand continues to make a strong impression by retaining its position as the top two most chosen beverage brands in rural Vietnam in 2023, achieving remarkable growth of 10.5% in purchases and 8.1% in household penetration. This is also the 7th year SABECO has been listed in the top five in this ranking.
Despite the challenges posed by the COVID-19 lockdowns and inflation, Saigon Beer has impressively climbed nine ranks to enter the top 10 most purchased beverage brands across four cities, achieving a remarkable growth of 57.5% in purchases and 30.4% in household penetration.
Also this month, SABECO officially joined Packaging Recycling Organisation Vietnam (PRO Vietnam) with an aim of fulfilling the company’s Extended Producer Responsibility (EPR), working towards a shared goal for all businesses in the industry.
This participation will also help SABECO contribute to shaping a practical and effective EPR regulation that suits the market context in Vietnam.
As a leading enterprise in Vietnam, SABECO is dedicated to advancing the country’s socio-economic development. The company aims to create positive impacts for Vietnam while generating valuable benefits for itself and its partners.
For nearly 150 years, SABECO has affirmed its position as a 'national' beer brand in the hearts of Vietnamese people./.
