VINAMILK: A DECADE OF DOMINANCE IN VIETNAM’S DAIRY INDUSTRY
The recently released Forbes Vietnam’s list of Top 50 Best Listed Companies in 2024 highlights the country’s economic powerhouses, with Vinamilk securing a spot in the top 5 and standing as the sole representative from the FMCG sector. This year’s list witnessed 18 changes, reflecting the dynamic nature of Vietnam’s economy and market forces.
Vinamilk stands out as a unique entity in this esteemed list, not only as the sole dairy industry representative in the top 10 but also as the only FMCG company to consistently feature in the rankings for all 12 years. During this period, the company has witnessed a remarkable doubling of its total revenue, soaring from VND 27,102 billion in 2012 to VND 60,479 billion in 2023.
ATTRACTING INVESTMENTS THROUGH QUALITY AND SUSTAINABILITY
Since its official listing in 2006, Vinamilk (VNM) has remained a prominent stock in the VN30 basket and consistently ranked among the top 20 “green” stocks in the VNSI for its sustainability performance based on E-S-G criteria.
According to the 2023 Annual Report, Vinamilk is the F&B company with the largest market capitalization on the HOSE, valued at nearly $6 billion, and a revenue of over $2.4 billion, placing it among the Top 40 dairy companies globally. The leading listed dairy company in Vietnam has garnered attention from prominent investment funds based in Singapore, the USA, and other countries due to its transparency, sustainability, and robust governance.
Currently, the largest foreign shareholders investing in Vinamilk include F&N Dairy Investment and Platinum Victory from Singapore, Fubon FTSE Vietnam ETF from Taiwan, and Vanguard International Value Fund from the USA.
In the first half of 2024, Vinamilk achieved impressive revenue growth, particularly in Q2 with a 37% increase in exports compared to the previous year, maintaining a consistent growth trajectory since 2023. Vinamilk’s products are now exported to over 60 countries and territories, including demanding markets such as the USA, Australia, New Zealand, Japan, and South Korea.
Domestically, Vinamilk’s unwavering commitment to product quality has solidified its leading position, evidenced by 12 consecutive years as Vietnam’s most purchased dairy brand and a top 3 FMCG manufacturer in the country.
These outstanding results can be attributed to continuous product improvements, market expansion, and cost and operational efficiency optimizations. Additionally, the company’s comprehensive strategic overhaul initiated in mid-2023 has provided a significant boost to its current growth trajectory.
Beyond financial performance, Vinamilk has earned the trust of investors through its brand value, product quality, and commitment to sustainable development. With a brand value of $3 billion, Vinamilk stands as a proud representative of Vietnam’s national brands, ranking among the top 10 dairy companies worldwide.
The company’s steadfast dedication to sustainable development is exemplified by its pioneering role in ESG initiatives in Vietnam, notably its programs aimed at achieving Net Zero by 2050. This focus on sustainability, coupled with its solid foundations and current growth momentum, positions Vinamilk as an exemplary Vietnamese enterprise in the era of globalization.
Vinamilk: Impressive nearly 20% growth in Q4/2023 export revenue
Vinamilk has announced its financial report for Q4 2023, recording a consolidated total revenue and after-tax profit of VND 15,630 billion and VND 2,351 billion, respectively. This represents an increase of 3.6% and 25.8% compared to the same period last year. For the full year, the consolidated total revenue and after-tax profit reached VND 60,479 billion and VND 9,019 billion, completing 95% of the revenue target and 105% of the profit target.
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