A Leading FMCG Enterprise in the Top 50
Based on the audited 2023 financial results, the Top 50 Best Listed Companies in 2024 released by Forbes Vietnam features prominent businesses regarded as the “economic backbone and outstanding representatives of their respective industries.” This year, Vinamilk maintains its position in the top 5 and stands as the sole FMCG enterprise on the list, alongside prominent names from industries such as industrial manufacturing, oil and gas, steel, and finance.
Over the 12 years of this ranking’s publication, there have been numerous changes reflecting the dynamic nature of the economy and market, influenced by both objective and subjective factors. This year’s list, in particular, witnessed 18 alterations among the 50 honored companies. Notably, the absence of some consumer and retail giants stands out, given the still-subdued purchasing power in the market, while new names have also emerged.
Top 50 Best Listed Companies in 2024 Ranking (Source: Forbes Vietnam)
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In the highly anticipated annual Forbes Vietnam list, Vinamilk stands out as a unique case. Not only is this industry leader the sole dairy company within the top 10, but it is also the only FMCG enterprise that has consistently appeared in the ranking since its inception 12 years ago. During this period, Vinamilk’s total revenue doubled, increasing from 27.102 trillion VND in 2012 to 60.479 trillion VND in 2023.
Attracting Investments Through Quality and Sustainability
Vinamilk (VNM), since its official listing in 2006, remains one of the prominent stocks in the VN30 basket and has consistently been among the top 20 “green” stocks in the VNSI, recognized for its sustainability based on E-S-G criteria.
According to the 2023 annual report, Vinamilk is a leading F&B company on the HOSE with a market capitalization of nearly 6 billion USD and revenue exceeding 2.4 billion USD. It ranks among the Top 40 largest dairy companies globally. As a listed company leading the Vietnamese dairy industry, Vinamilk has garnered attention from prominent investment funds based in Singapore, the USA, and other countries due to its transparency, sustainability, and good governance. Currently, its largest 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 USA.
 A network of 14 modern domestic factories and 2 overseas factories ensures production capacity and product quality.
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In the first half of 2024, Vinamilk achieved impressive revenue growth, particularly in Q2, with a 37% increase in export revenue compared to the same period last year, maintaining a growth trajectory since 2023. Vinamilk currently exports to over 60 countries and territories, including demanding markets such as the USA, Australia, New Zealand, Japan, and South Korea.
In the domestic market, Vinamilk’s unwavering commitment to product quality has solidified its leading position. For 12 consecutive years, it has been the most purchased dairy brand in Vietnam and is among the top 3 FMCG manufacturers chosen by Vietnamese consumers.
These favorable outcomes are attributed to continuous product enhancements, market expansion, and cost and operational efficiency optimizations. Notably, the company’s comprehensive strategic overhaul since mid-2023 has been a significant growth driver.
Beyond its impressive business performance, Vinamilk has also captivated investors through its brand value, product quality, and commitment to sustainable development. Vinamilk remains a source of national pride for Vietnam, boasting a brand value of 3 billion USD and ranking among the top 10 global dairy brands.
The company has demonstrated resilience in its sustainable development strategy, pioneering ESG initiatives in Vietnam, notably with programs aimed at achieving Net Zero by 2050. This commitment to sustainability is particularly appealing to investors, given the growing trend of ESG investing. With its solid foundations and current growth momentum, Vinamilk is recognized as an exemplary representative of Vietnamese enterprises 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.
Attracting talented individuals is challenging, but retaining them is even more difficult.
Not only is it about salary and benefits, but employees nowadays also have increasing desires for their working environment. Among them, what used to be considered as “additional perks” such as comprehensive healthcare programs, learning and development opportunities, and an environment to explore new things… are now being prioritized.
