TTC AgriS has completed 65% of its Revenue and 56% of its Profit before Tax target in the first 2 quarters of the 2023-2024 fiscal year
Ending the first 6 months of the 2023-2024 fiscal year, Thanh Thanh Cong Bien Hoa Joint Stock Company (TTC AgriS, Hose: SBT) recorded a cumulative Net revenue of VND 13,387 billion, up 9% compared to the same period, completing 65% of the annual plan. Cumulative profit before tax reached VND 478 billion, up 11% compared to the same period, completing 56% of the annual plan. Consumption volume in the second quarter recorded a growth compared to the first quarter, thereby raising the total cumulative consumption volume to ~640 thousand tons in the first 6 months. Of which, the cumulative B2C channel volume increased by more than 10% compared to the same period. The B2B channel maintained the same volume as the same period, but there has been a breakthrough in market share growth when the Customer portfolio reached ~2,700 Customers, up ~60% compared to the end of the 2022-2023 fiscal year.
Specifically for the 2nd quarter, Gross profit of the Company reached VND 745 billion, up more than 40% compared to the same period, Gross profit margin is also a bright spot when there has been positive improvement around 11%, up 37% compared to the same period, this result is achieved due to positive shift in the product structure weight – gradually shifting to products with high added value. Pre-tax profit reached VND 225 billion, up 50% compared to the same period. After-tax profit reached VND 169 billion, up over 42% compared to the same period.
As of 31/12/2023, TTC AgriS’s scale has also been expanded and the total assets reached VND 34,137 billion (~1,4 USD billion), up 14% compared to the start of the fiscal year, continuing to affirm the strong financial capability of the Company.
In the 2nd quarter, the costs of Sales and Business management also recorded respective increases of 39% and 26%, mainly due to TTC AgriS’s increased investment in production and business infrastructure to develop nutritional beverage products, which is a important link to enable the Company to remain focused on its goal of becoming a High-tech Agricultural Solutions Provider, participating in the global F&B value chain, focusing on boosting the F&B business segment and developing high value-added products.
TTC AgriS’s diverse natural beverage product lines mark a strong transformation in the F&B market
Export revenue increased by 23%, successfully bringing TTC AgriS branded products to more than 50 markets worldwide
In the first 6 months of the 2023-2024 fiscal year, TTC AgriS’s export channel recorded sales revenue of over VND 4,700 billion, up 23% compared to the same period. It can be said that TTC AgriS is still the only name that can bring Vietnamese Sugar Brand to markets around the world. In addition to Sugar products, the Company has also successfully introduced TTC AgriS branded natural nutritional products to over 50 markets worldwide, up over 70% compared to the 2022-2023 fiscal year, including many potential new markets such as Russia, Macau (China),… and especially demanding traditional markets such as Europe, America, South Korea, Singapore,… Before the favorable conditions and prospects of the industry, as well as the quick success in expanding export market share, TTC AgriS expects to continue increasing profit in this segment when possessing large competitive advantages along with proactively exploiting opportunities from the international market. TTC AgriS has conducted research, evaluation to develop a suitable strategy for each market access, bringing positive signals about export output.
TTC AgriS has successfully developed a portfolio of diversified products, including 88 Sugar products, 19 product lines adjacent to Sugar – after Sugar, 8 beverage product lines and with the recent appearance of 47 products from Coconut (Cocoxim Coconut Water, Momcooks Coconut Essence,…) and 21 other products (Solar Energy, Smiley South American Banana, Dole Export Bananas,…), demonstrating a strong capacity to continue expanding its customer segments, conquering new consumer markets and asserting its position as a leading multi-country agricultural enterprise in the region.
TTC AgriS owns a diverse product portfolio including natural nutrition product lines
Currently, TTC AgriS owns numerous international Certificates for important products such as ISO 9001:2015, ISO 14001:2015, ISO/IEC 17025, FSSC 22000 version 5.1 Certification, Middle Eastern Food Safety Certification granted by HCA, Kosher Certification, participation in Certifications: Sedex, URSA, SGP system Certifications, Certifications from the US Food and Drug Administration (FDA),… especially, Organic Certifications according to standards of the United States Department of Agriculture (USDA), Europe and China granted by Control Union and Fair Choice and Fair Trade Certifications. These are important certifications and milestones that help the Company define its position in the international market and enable its products to enter premium markets with the most stringent quality standards, especially the US and EU.
In the 2022-2023 fiscal year, TTC AgriS is also the first unit in Vietnam to be honored to receive the Bonsucro certificate – demonstrating commitments to sustainability in the environment and society for sugarcane. This certification is not only an important milestone for TTC AgriS to expand its scale, build its brand toward new markets, but also a guarantee of the quality and value of its products, helping to enhance the Company’s position and reputation in the eyes of Investors, Partners and Customers worldwide.
Conquering the F&B industry, gradually realizing the goal of becoming a global agricultural product solutions provider, aiming to achieve revenue of VND 60,000 billion from agricultural products by 2030
With the boom of E-commerce and especially the combination of shopping and entertainment channels, it has made it easier for consumers to access products. In the past time, TTC AgriS has focused on researching and launching new products to maximize the value chain of crops, specifically natural nutritional beverage products. At the same time, the Company has intensified internal development activities by training and developing a sales team, especially deploying dedicated sales teams for the Beverage sector to enhance the efficiency of business operations.
Pursuing a multi-channel – multi-touch strategy, on January 15, 2024, TTC AgriS officially successfully launched Web order to enhance customer experience, helping customers to access Sugar and F&B products from TTC AgriS in the fastest and best way. At the same time, TTC AgriS is building sales channels on e-commerce platforms such as Lazada, Shopee, Tiki, and Tiktok,… With the focus on customers, TTC AgriS connects all touch points and solutions to form a unified system, maximizing opportunities to reach and serve customers.
The Web order interface (https://www.agrismart.com.vn) provides easy access to TTC AgriS products
The successful development of the Web order interface is considered a breakthrough in the strategy to participate in the global F&B value chain, gradually realizing the expansion and investment in new potential markets, further improving product quality and services, maintaining the brand position for 55 years in the market and soon realize the goal of achieving revenue of VND 60,000 billion from agricultural products by 2030.