Wake-Up 247, a flagship product of Vinacafé Bien Hoa, partners with Manchester City – the Premier League club with the highest brand value (according to Brand Finance)
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According to the list of shareholders established by the Vietnam Securities Depository Center on July 28, 2025, VCF has a total of 538 shareholders, in which Masan Beverage Ltd. (a subsidiary of Masan Consumer) holds up to 98.79% of the voting shares. The remaining 1.21% is held by 537 individual shareholders.
With such a concentrated shareholder structure, VCF no longer meets the minimum requirement of 10% of voting shares held by at least 100 investors who are not major shareholders, as stipulated by the amended Securities Law in 2024.
Masan began the process of acquiring VCF in 2010 by purchasing shares from large funds such as VinaCapital, VF1, Vietcombank Fund, and Vietnam Holding, acquiring about 20% of the charter capital before the company’s listing on the HOSE in January 2011. In September 2011, Masan continued the acquisition through Masan Consumer (listed on UPCoM: MCH) by publicly offering to buy 13.32 million VCF shares, equivalent to 50.11% of the capital, at a price of 80,000 VND per share, totaling over 1,069 billion VND.
As of now, Masan Beverage, the owner of VCF, has increased its holding to 98.79%, approaching the goal of owning the entire enterprise.
VCF‘s business efficiency remains stable under Masan’s management
After being acquired by Masan, VCF has maintained efficient operations with a consistent ROE of over 10% per year. A significant turning point came in 2014 with the launch of Wake-Up Coffee 247, a coffee-flavored energy drink, which expanded their market share in the beverage industry.
From 2015 to 2019, the company’s average revenue was over 3,000 billion VND per year, later stabilizing around 2,400 billion VND. Annual profits consistently exceeded 300 billion VND, with 2024 reaching 446 billion VND.
| VCF’s annual business results since coming under Masan’s management |
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In 2025, VCF targets revenue between 2,700 and 2,950 billion VND and net profit between 470 and 516 billion VND. General Director Nguyen Tan Ky shared his expectation that profits this year could surpass 500 billion VND for the first time if conditions are favorable.
In the second quarter of 2025, VCF recorded nearly 636 billion VND in revenue, a 10% increase compared to the same period last year, and a net profit of over 121 billion VND, a 24% increase. Profit margins improved due to the growth in sales of key products such as Vinacafé instant coffee, Wake-Up, and Wake-Up 247, along with effective cost reduction.
In the first six months of the year, revenue reached 1,309 billion VND, the highest in six years, and net profit exceeded 249 billion VND, the highest in five years for the semi-annual cycle. Compared to the low plan, the company achieved 48% of the revenue target and 53% of the profit target.
| VCF’s semi-annual business results over the years |
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High cash dividend of up to 480%, and surging stock price
VCF is one of the companies with the highest cash dividend payout on the market. In the period of 2020-2023, the dividend payout was 250% per year, and in 2024, it is expected to be up to 480%, the highest in the past seven years. Prior to this, in 2017, the company once paid dividends of up to 660%.
In the stock market, VCF is among the stocks with the highest market price. At the end of July, the stock hit a historical peak of 326,400 VND per share due to positive second-quarter financial results, before adjusting slightly by 4% to 313,000 VND per share on August 1, 2025.
Within a month, the share price increased by 7%, and by 58% compared to a year ago. However, liquidity is very low, with an average of just over 1,200 shares traded per session, reflecting the concentrated shareholder structure.
| Movement of VCF share price since the beginning of 2025 |
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– 09:53 02/08/2025
The Masan Way: Building a Powerful Brand
Building a strong and trusted brand is paramount for consumer retail businesses. Masan, a leading industry player, is one of the few domestic enterprises with a well-crafted brand-building strategy that has achieved success in Vietnam and made an impression on the international market.
