SABECO targets 8 per cent profit growth in 2025

SABECO targets 8 per cent profit growth in 2025

Saigon Beer-Alcohol-Beverage Corporation (SABECO) reaffirmed its market leadership and commitment to sustainable growth at its Annual General Meeting on April 24 in Ho Chi Minh City, announcing robust results for 2024 and setting ambitious targets for the year ahead.

Lester Tan, General Director of SABECO, speaking at the AGM

The brewer reported net revenue of VND31.87 trillion (approximately $1.27 billion), a 4.6 per cent increase compared to the previous year, while after-tax profit rose 5.6 per cent to around $179.8 million.

These results demonstrate SABECO’s resilience in a challenging environment marked by rising input costs, shifting consumer behaviours, and intensifying competition. The company remains firmly committed to delivering long-term value to shareholders, partners, and local communities across Vietnam.

General director Lester Tan described 2024 as a transformative year for SABECO, one where the company not only navigated headwinds but strengthened its foundations.

“In the year of the Dragon, we took decisive steps to overcome market challenges and emerged stronger. We are focused on sustainable growth, profitability, and unlocking new opportunities,” he said. “With the passion of our people and the trust of stakeholders, SABECO will continue progressing steadily on its growth journey.”

SABECO’s performance in 2024 was underpinned by its commitment to commercial excellence, operational efficiency, and environmental, social, and governance (ESG) initiatives.

The company reinforced its market presence through data-driven marketing and brand initiatives grounded in local insights, ensuring its iconic Bia Saigon remains one of the most-chosen beverage brands in Vietnam.

The introduction of 333 Pilsner, a premium extension of its heritage brand, responded to evolving consumer tastes, while modern trade and e-commerce channels were expanded to better serve urban and younger demographics.

Operationally, SABECO advanced its supply chain modernisation strategy, upgrading logistics, procurement, and production systems to enhance service quality and cost efficiency.

A highlight of the year was the launch of SABECO’s Beer Research & Development Center in November 2024, a significant milestone in its pursuit of brewing innovation and excellence.

The company also strengthened its ESG commitments, expanding solar energy usage, improving water efficiency, and fostering a more inclusive workplace through its first-ever employee engagement survey.

These efforts were recognised with SABECO being named among Vietnam’s Top 100 Sustainable Companies and a Top 10 Best Corporate Governance Company by Anphabe.

Looking Ahead: Sustaining Momentum into 2025. Chart: Nguyen Thu

Looking ahead, SABECO remains focused on sustaining momentum. The company has set an 8 per cent revenue growth target and proposed a cash dividend payout of 50 per cent.

Priorities include further strengthening supply chains, optimising the brand portfolio, expanding market reach both domestically and internationally, and accelerating product innovation to better engage the new generation of consumers.

The company’s chairman Koh Poh Tiong expressed cautious optimism, acknowledging ongoing global uncertainties but affirming SABECO’s readiness to seize emerging opportunities.

The Board of Directors and Executive Board of SABECO at the AGM in the morning of April 24

With a 150-year brewing legacy and a nationwide distribution network, SABECO continues to build on its reputation for brewing excellence. Its commitment to quality was reaffirmed in 2024 when its beer products earned numerous accolades at the World Beer Awards and the International Beer Cup, adding to an extensive list of international honours.

This enduring focus on innovation and sustainability ensures SABECO’s strong position in Vietnam’s dynamic beverage market while contributing positively to the wider community.

VIR