Vinamilk’s Investor Relations Director, Mr. Dong Quang Trung, shared that the dairy giant’s international business witnessed a boom in Q2 2024, surging 30% year-over-year due to robust exports and the efficiency of its overseas branches.
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Vinamilk achieves record revenue in Q2 2024
Unit: Billion VND
Source: “Connecting 2 Customers” Workshop organized by HSC in collaboration with Vinamilk
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Vinamilk’s export revenue soars in Q2 2024
Unit: Billion VND
Source: “Connecting 2 Customers” Workshop organized by HSC in collaboration with Vinamilk
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Mr. Trung attributed this success to Vinamilk’s diverse export product portfolio, which effectively meets the demands of various markets.
Additionally, while other companies faced supply issues due to geopolitical instability, Vinamilk maintained its commitments to its customers, thereby building trust and securing new orders. “Geopolitical fluctuations present opportunities for determined companies,” emphasized Mr. Trung.
This positive trend continued into July 2024, with Vinamilk’s representative stating that the company sustained double-digit growth in its export channel.
The performance of Vinamilk’s overseas branches in Cambodia and the USA also showed improvement. Mr. Trung revealed that Vinamilk is the only company with a modern dairy plant in Cambodia, giving it a significant advantage over competitors who are merely importers and distributors. Moreover, the Cambodian market is reaping the benefits of the company’s marketing efforts in previous quarters.
In the US market, Vinamilk’s Driftwood-branded plant resumed packaging supply in 2024, enabling the company to fulfill orders and achieve substantial revenue growth, as shared by Mr. Trung.
Looking ahead, Vinamilk’s representative revealed that nearby markets like Taiwan and Japan are in their expansion plans, considering the significant Vietnamese communities in these countries.
Addressing investors’ concerns about the potential rise in raw material prices impacting profits, Mr. Trung explained that while there was a sharp increase in dairy production raw material prices between 2021 and 2022 due to supply disruptions, no similar risks are evident at present. He assured that Vinamilk’s raw material powder purchases are now back to pre-pandemic levels.
The Vinamilk representative highlighted that the global demand for milk powder is currently low, especially in China, where economic weaknesses have significantly reduced demand. Additionally, China has increased its domestic supply of raw materials in recent years.
“China’s decreasing demand for imported milk powder benefits Vinamilk as we can source raw materials from Australia and New Zealand at better prices,” Mr. Trung stated.
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Top 10 stocks with the strongest net buying by foreign investors in the last month up to August 23, 2024
Unit: Billion VND
Source: “Connecting 2 Customers” Workshop organized by HSC in collaboration with Vinamilk
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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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