Saigon Beer's revenue increased at the end of the year, with nearly 23,000 billion in the bank

Saigon Beer's beer sales revenue in the fourth quarter of 2024 increased by 5% compared to the same period last year. By the end of 2024, they have nearly 22,400 billion VND in the bank to earn interest.

Saigon Beer has just acquired another beer company, expanding its scale and increasing its capacity - Photo: QUANG DINH

Saigon Beer - Alcohol - Beverage Corporation ( Sabeco - SAB) has just announced its consolidated financial report for the fourth quarter of 2024 with results higher than the same period.

The report said that Sabeco's net revenue this period reached VND9,048 billion, an increase of more than 5% compared to the fourth quarter of 2024. However, the cost of goods sold increased by more than 6%, reaching VND6,433 billion. The resultant gross profit reached VND2,499 billion, an increase of less than 2%.

In addition, financial revenue (mainly interest from bank deposits) decreased by nearly 23% year-on-year, reaching only VND268 billion in the fourth quarter.

Sales and administrative expenses also increased. In return, the profit from Sabeco's affiliated companies and jointly controlled businesses increased from VND32.8 billion in the fourth quarter of 2023 to VND130 billion in the fourth quarter of 2024.

As a result, Saigon Beer still reported a profit after tax of VND990 billion, an increase of less than 3% compared to the fourth quarter of 2023.

Last year, the domestic beer company with the largest market share in Vietnam brought in VND32,164 billion, an increase of nearly 5% compared to 2023.

Of which, beer sales contributed the most with 28,082 billion VND, up 4.3%. Meanwhile, revenue from wine and alcohol sales decreased from 51.6 billion VND to 42.1 billion VND.

At the end of 2024, the financial report recorded that Sabeco had nearly 22,400 billion VND in the bank earning interest.

As deposit interest rates hit record lows, Sabeco is having a "headache" watching its bank interest income decline. In 2024, the beer company only brought in VND1,044 billion in bank interest, compared to nearly VND1,400 billion last year, a decrease of nearly VND400 billion.

Saigon Beer's final after-tax profit for the whole year last year was VND4,494 billion, up 5.6% compared to 2023.

Mr. Tan Teck Chuan Lester - General Director of Sabeco, said the higher net revenue was mainly due to better demand from the improving economy , although Decree 100 on tightening alcohol concentration is still strictly enforced.

Saigon Beer has just acquired another beer company.

Recently, Sabeco successfully purchased more than 37.8 million SBB shares of Saigon - Binh Tay Beer Group (Sabibeco) from 276 investors.

The total reported value of the deal is nearly VND832 billion, which Sabeco took from equity and other legal sources of capital.

According toFPT Securities Company (FPTS), the merger and acquisition (M&A) of Saigon - Binh Tay Beer will help increase Sabeco's total capacity to 3.01 billion liters/year, an increase of 25.4% compared to the current capacity.

Currently, Saigon - Binh Tay has 6 breweries with a total capacity of 0.61 billion liters/year. After completing the M&A, Sabeco will become the beer enterprise with the largest production scale in Vietnam.

Regarding Sabeco, the company's current shareholder structure is quite concentrated with two major shareholders, Vietnam Beverage Company Limited (Thailand) and the Corporation, with ownership ratios of 53.6% and 36.0%, respectively.

Vietnam Beverage Company Limited is a subsidiary of ThaiBev Group - the largest beer company in Thailand. Therefore, ThaiBev Group holds the controlling power over SAB's business operations.

Source: https://tuoitre.vn/doanh-thu-bia-sai-gon-tang-cuoi-nam-co-gan-23-000-ti-gui-ngan-hang-20250125100554251.htm