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Sabeco releases Q3 financials

Released at: 16:19, 31/10/2018

Sabeco releases Q3 financials

Photo from anninhthudo.vn

Revenue rising in quarter but profits down.

by My Van

The Saigon Beer Alcohol Beverage JSC (Sabeco) has released its third-quarter consolidated financial statements, with revenue at VND8.5 trillion ($365.1 million), up 6.3 per cent year-on-year.

Cost of goods sold increased 13 per cent, resulting in a decline in gross profit from VND2.1 trillion ($90.2 million) to VND1.8 trillion ($77.3 million) year-on-year.

Pre-tax profit decreased nearly 10 per cent in the third quarter, from VND1.4 trillion ($60.09 million) to VND1.2 trillion ($51.5 million) year-on-year. After-tax profit of the parent company fell from VND1.09 trillion ($46.7 million) to VND975 billion ($41.8 million). This is the first quarter net profit has fallen below VND1 trillion ($42.8 million) since the beginning of 2017.

In the first nine months of the year, Sabeco posted net revenue of VND25.5 trillion ($1.09 billion), up VND1.8 trillion ($77.1 million), or 8 per cent, year-on-year. Gross profit dropped VND500 billion ($21.4 million) to VND5.9 trillion ($252.8 million).

Pre-tax profit fell nearly VND300 billion ($12.8 million) year-on-year to VND4.2 trillion ($180.01 million). The after-tax profit of the parent company decreased more than VND200 billion ($8.5 million) to VND3.3 trillion ($141.6 million).

Sabeco aims to become the leading beverage industry group in the country, establishing a position in the region and internationally and promoting Vietnam’s culinary culture.

It also expects to enhance quality of life through the provision of high quality, safe and nutritious beverage products and to bring practical benefits to shareholders, customers, partners, employees, and society.

Sabeco’s products are exported to 28 countries and territories: South Africa, Laos, France, the Netherlands, South Korea, Taiwan (China), Japan, the US, Hong Kong, the UK, Sweden, Switzerland, Panama, Germany, China, Russia, Denmark, Australia, New Zealand, Thailand, the Philippines, Chile, Singapore, Canada, Spain, Cambodia, and Malaysia.

Saigon Beer is a leading brand name in Vietnam’s beer industry, with some 140 years of development. It is recognized as a National Brand and was also honored to become the 351st member of the Berlin Beer Academy - one of the cradles of global beer culture.

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