The Best-Listed Companies: TTC AgriS Makes the Cut Once Again

Asserting its position as a pioneer in Vietnam’s agriculture, leading the way towards greener trends

Quick to seize emerging trends and proactively transform and break through on its 55-year sustainable development journey, TTC AgriS continues its mission of “Serving – Perfecting the Responsible Value Chain” to contribute significant achievements to the circular agriculture economy. The company remains in the “Top 50 Best Listed Companies” for 2024 by Forbes Vietnam, ranking alongside giants such as Viettel, Vinamilk, Masan, Sabeco, Petrolimex, ACB, BIDV, and Dược Hậu Giang.

As recognized by Forbes, this is the seventh consecutive year that TTC AgriS has been honored in this list, with a revenue and profit of VND 24,743 billion and VND 537.2 billion, respectively, for the 2022-2023 fiscal year, and a market capitalization of VND 8,700.89 billion as of May 30, 2024.

TTC AgriS is recognized among the TOP 50 Best Listed Companies in 2024 by Forbes Vietnam

In the food and beverage sector (F&B), TTC AgriS has maintained its well-known brand presence with consistent growth over the years despite the downturn in the stock market. In 2022, TTC AgriS was also ranked among the Top 25 Leading F&B Brands by Forbes. With an ecosystem of over 170 plant-based food, beverage, and seasoning products that are essential to consumers’ daily lives, TTC AgriS aims not only for economic goals but also to pioneer in environmental protection and community health. Their sustainable development, intertwined with a “green” business strategy, is a crucial factor in enhancing the company’s brand position in both domestic and international markets.

The 2024 ranking of the Top 50 Best Listed Companies required enterprises to meet stringent criteria, including global ranking methodology adapted to the Vietnamese market. Forbes Vietnam assessed data based on the following criteria: profitability in 2023, revenue and capitalization of at least VND 500 billion, and compound annual growth rate in revenue, profit, ROE, ROC, and EPS growth from 2019 to 2023. Notably, this year, TTC AgriS passed the qualitative assessment round, reflecting its strong commitment to a green growth strategy and the development of circular agriculture.

In June 2024, TTC AgriS was also recognized among the top 500 most profitable companies in Southeast Asia – Fortune 500 Southeast Asia 2024, as announced by Fortune (USA) for the first time. Additionally, the company received accolades at the prestigious Global CSR & ESG Summit and Awards for the second consecutive year.

Strong Fundamentals – Sustainable Development of the Enterprise in Tandem with National Goals

Amid contrasting forecasts for global economic growth and the significant impact of international markets on Vietnam’s economy, especially in terms of high-interest rates and surging foreign exchange rates, the country’s economic prospects rely heavily on the support of the business community, particularly in specialized fields like agriculture and FMCG supply. With record-breaking business performance, TTC AgriS is making a substantial contribution to Vietnam’s reputation as an attractive destination for international investment. Moreover, with its strengths in Agriculture 4.0, the company is seizing crucial opportunities presented by technological advancements and the potential of global trade production chains.

Specifically, for the fiscal year 2023-2024, TTC AgriS exceeded its plan, achieving a cumulative net revenue of VND 29,035 billion, a 17% increase over the previous year and surpassing its plan by 41%. Pre-tax profit reached nearly VND 906 billion, a 26% growth compared to the same period and exceeding the plan by 7%. Post-tax profit increased by 32% year-on-year to VND 796 billion. Sugar consumption volume continued to exceed one million tons, with the domestic channel accounting for 66% and exports making up the remaining 34%.

As of June 30, 2024, TTC AgriS’s scale continued to expand, with total assets increasing significantly to VND 34,077 billion, a rise of over 14% from the beginning of the fiscal year. This reinforces the company’s strong financial potential. The current ratio improved to 1.23, up from 1.16 in the previous year. The company also aims to accelerate financial restructuring to ensure a robust financial statement and align with its sustainable development strategy.

TTC AgriS’s revenue has consistently grown over the fiscal years, with FY 23-24 achieving the highest revenue in the company’s history, aiming for a revenue target of 60,000 billion by 2030

Recently, TTC AgriS celebrated its 55th anniversary, reaffirming its position as a leading high-tech agricultural enterprise in Vietnam and engaging in global discussions on comprehensive agricultural value chain preservation. On receiving the Best Listed Company title this year, Chairwoman of the Board of Directors, Ms. Đặng Huỳnh Ức My, shared: “Focusing on the mission of developing a green economy and promoting the integration of Vietnamese agriculture into the global arena, I am proud that TTC AgriS is currently one of the pioneers in Vietnam in standardizing the enterprise governance system on the foundation of sustainable development and applying ESG standards to the entire governance framework, as well as meeting stringent international standards.”

With a vision for the coming decades, TTC AgriS is embracing a new era under the leadership of a new generation of pioneers, swiftly working towards a revenue target of 60,000 billion VND by 2030. The company is committed to leading the way towards a sustainable agricultural economy and achieving Net Zero by 2035.

Ms. Đặng Huỳnh Ức My, Chairwoman of the Board of Directors of TTC AgriS, at the 55th-anniversary celebration, declared the mission to continue developing sustainable agriculture to support commodity circulation and food security between regions

With this recognition, TTC AgriS continues to demonstrate its commitment to maximizing value for partners involved in its sustainable agricultural value chain. The company’s efforts contribute to economic and social development and propel the advancement of the country’s modern agricultural industry.