Who is the Only FMCG Company to Make Forbes Vietnam’s Top 50 List for 12 Consecutive Years?

Leading FMCG Enterprise in Top 50 Best Listed Companies

According to the 2023 audited financial report, the Top 50 Best Listed Companies in 2024 announced by Forbes Vietnam comprises the country’s leading enterprises, deemed the “economic powerhouse and outstanding representatives of their respective industries.”

This year’s results feature Vinamilk in the top 5 and as the sole FMCG representative. The remaining companies span industries such as industrial manufacturing, oil and gas, steel, and finance.

Over 12 years of this ranking, numerous changes have been witnessed, reflecting the dynamic nature of the economy and market, influenced by both objective and subjective factors. Notably, this year’s list underwent 18 alterations out of the 50 recognized companies.

Notably absent from this year’s list are several consumer and retail giants, given the subdued purchasing power in the market. However, there are also new entrants to the list.

In the highly anticipated annual Forbes Vietnam list, Vinamilk stands out as a unique case. Not only is it the sole dairy representative in the top 10, but it’s also the only consumer goods company that has consistently appeared on the list since its inception 12 years ago.

During this period, Vinamilk’s total revenue doubled, surging 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 one of the prominent stocks in the VN30 basket and has consistently been included in the VNSI group of “green” stocks, leading in sustainability based on E-S-G criteria.

According to the 2023 annual report, Vinamilk is the F&B company with the largest market capitalization on HOSE, valued at nearly USD 6 billion, with a revenue of over USD 2.4 billion, ranking among the Top 40 dairy companies globally. This listed company, leading the Vietnamese dairy industry, has garnered attention from prominent investment funds from Singapore, the US, and other countries due to its transparency, sustainability, and good governance. Notable foreign shareholders include F&N Dairy Investment and Platinum Victory from Singapore, Fubon FTSE Vietnam ETF from Taiwan, and Vanguard International Value Fund from the US.

In the first half of 2024, Vinamilk achieved impressive revenue growth, particularly in Q2 exports, which surged by 37% year-on-year, maintaining a growth trajectory since 2023. Vinamilk currently exports to over 60 countries and territories, including demanding markets like the US, Australia, New Zealand, Japan, and South Korea.

In the domestic market, Vinamilk’s unwavering commitment to product quality has solidified its leadership position. For 12 consecutive years, it has been Vietnam’s most purchased dairy brand and is among the top 3 FMCG manufacturers chosen by Vietnamese consumers.

These commendable outcomes are attributed to continuous product innovation, market expansion, and cost and operational efficiency optimization. Notably, the company’s comprehensive strategic overhaul since mid-2023 has been a significant growth driver.

Beyond financial performance, Vinamilk appeals to investors through its brand value, product quality, and sustainable development orientation. It is a source of national pride for Vietnam, boasting a brand value of USD 3 billion and ranking among the top 10 global dairy brands.

The company also demonstrates resilience in its sustainable development strategy, pioneering ESG initiatives in Vietnam, notably programs aimed at achieving Net Zero by 2050. This commitment aligns with the growing trend of ESG investing, making Vinamilk an attractive prospect for investors.

With its solid foundations and current growth momentum, Vinamilk is recognized as an exemplary representative of Vietnamese enterprises in the era of globalization.