SABECO (SAB) accomplished 96.6 per cent of its profit goal in nine months
SABECO (SAB) accomplished 96.6 per cent of its profit goal in nine months
SABECO's net sale and profit after tax reaped sweet fruits in the third quarter thanks to the resurgence of global tourism, increased consumer demand, improved production, and cost savings.
According to the newly released financial statement for Q3, SABECO recorded net revenue of $375.2 million, up 101.6 per cent over the same period last year. Meanwhile, profit after tax reached $60.4 million, up 195.5 per cent on-year.
For the nine months period, SABECO reached net revenue of $1.08 million and profit after tax of $191.3 million, up 44 per cent and 75 per cent, respectively.
SABECO explained that “the net sales and profit after tax have been improved and were higher than last year as the country emerged from lockdown and consumer demand increased. In addition, during this time last year, social distancing measures and COVID-19 restrictions were tightened especially in Ho Chi Minh with total lockdown from late July to early October last year.”
Besides this, “various consumer promotion and creative marketing programmes have helped to complement the many sales programmes for the brands in the market. The company has also enhanced production efficiency and implemented various cost optimisation measures, that have helped to minimise the impact of the higher input cost driven by inflationary pressure,” the filing added.
“Various consumer promotion and creative marketing programmes have helped to complement the many sales programmes for the brands in the market. The company has also enhanced production efficiency and implemented various cost optimisation measures, that have helped to minimise the impact of the higher input cost driven by inflationary pressure,” thefiling added.
This year, SABECO targets $1.5 billion in net revenues and $200 million in after-tax profit, an increase of 32 and 17 per cent on-year. Thus far, the group has accomplished 96.6 per cent of its profit goal.
Besides growing profit, SABECO's operating cash flow continued to improve. Specifically, in the first nine months of the year, business cash flow continued to be positive at $204.3 million compared to the same period last year.
With SABECO's growth potential, ThaiBev Group which owns a 54 percent stake in SABECO, had dismissed rumours it wants to sell Vietnam’s biggest brewer SABECO.
At the recent annual press conference, ThaiBev's CEO, Thapana Sirivadhanabhakdi confirmed, “This is our crown jewel, a rare asset among brewers in the region.”
SABECO's attractiveness is also reflected in the stock market, as its Ho Chi Minh Stock Exchange Stock listed SAB code is the only code in the VN30 group to go against the market from the beginning of 2022 until now.
SABECO's Board of Directors issued Resolution No.77/2022/NQ-HDQT approving the 2022 advance dividend payment in cash with a payment ratio of 25 per cent par value or VND2,500 (10 US cents) per share and the payment date set on January 11, 2023. Looking at the history of paying dividends recently, SABECO is a rare enterprise on the Vietnamese stock exchanges to maintain regular dividend payments.
With its 147 years of brewing history, SABECO has established itself as one of Vietnam’s leading beverage companies
SABECO includes 26 breweries and 11 trading subsidiaries, and has a distribution network consisting of thousands of retailers nationwide.
SABECO is proud to offer a brand portfolio that consists of some of the most well-loved beer brands in Vietnam, including Lac Viet, Bia Saigon Chill, Bia 333, Bia Saigon Special, Bia Saigon Export, Bia Saigon Lager, and Bia Saigon Gold.
