Business
Sabeco reports US$48.2 million in profit
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.
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.
Sabeco reports US$48.2 million in profit.
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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.
