Foreign markets contribute more than 2,500 billion VND to Vinamilk's revenue

Foreign markets grew by 11.7% year-on-year, contributing VND2,534 billion to Vinamilk 's revenue in the fourth quarter of 2023.

Vinamilk's business results report shows that consolidated net revenue in the fourth quarter of 2023 reached VND15,619 billion, up 3.7% over the same period.

Vinamilk's revenue from foreign markets comes from two main activities: exports and revenue from foreign branches. Of which, net export revenue reached VND1,298 billion in the last three months of last year, up 19.3% over the same period. Foreign branches reached VND1,236 billion. In 2023, Driftwood (USA) maintained a slight revenue growth and recorded a profit of over USD2 million for the first time thanks to efficient business and cost savings. AngkorMilk (Cambodia) promoted business activation programs and surveyed milk consumption trends to reach consumers more systematically and effectively.

Vinamilk product showroom will have a facelift in 2023. Photo: Chau Anh

For the whole year of 2023, Vinamilk's total consolidated revenue and profit after tax will reach VND60,479 billion and VND9,019 billion, respectively, completing 95% of the revenue plan and 105% of the profit plan.

Thanks to stable growth, the company representative said that for the whole year, the consolidated gross profit margin reached 40.7%, recovering 80 basis points compared to the same period. The consolidated net cash balance as of December 31, 2023 continued to be maintained at a high level, ensuring financial health.

Last year, the company made its mark by changing its brand identity to a new, youthful one following young people's consumption trends, accompanied by a series of marketing campaigns.

At the end of December 2023, the "Taste Journey" experience event increased awareness for Green Farm's premium fresh milk product line, attracting nearly 7,000 visitors in Ho Chi Minh City and Hanoi and tens of thousands of discussions on social networks. Green Farm alone recorded revenue growth of nearly 50% over the same period.

The "Taste Journey" experience event of Vinamilk Green Farm brand in December 2023 attracted attention from the community. Photo: Chau Anh

The store channel achieved a 13% revenue growth over the same period last year. In the coming time, Vinamilk will upgrade the stores in the system of 653 product introduction stores.

E-commerce is also a channel that Vinamilk is promoting when it first appeared on Tiktok Shop in the livestream session on December 12, 2023. According to Social Buzz statistics, in 2023, the company's online sales revenue doubled compared to the same period with more than 4 million orders, 500,000 visits and 17,000 interactions on social networks.

Last year, Vinamilk was honored in many categories such as: Top 1 Sustainable Development Report 2022; Top 2 Corporate Governance, Top 5 Pioneering Enterprises implementing circular economy and reducing carbon emissions; Top 10 sustainable enterprises operating in the manufacturing sector, Top 20 Annual Report (non-financial group)...

Hoang Anh

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