A production line of Saigon Beer - Alcohol - Beverage Corporation. Photo courtesy of SABECO

HÀ NỘI — Saigon Beer - Alcohol - Beverage Corporation (SABECO) is gearing up for its most significant event of the year - the General Meeting of Shareholders scheduled for April 25, 2024.

This gathering represents an important opportunity for shareholders to engage in discussions about new business strategies, determined to navigate challenges and seize fresh opportunities.

A strong foundation

The upcoming General Meeting is highly anticipated, as it allows both the company and its shareholders to reflect on past achievements while setting a vision for the future. Despite the economic difficulties faced in 2023, SABECO has demonstrated resilience, achieving impressive results in a challenging landscape.

For the fiscal year 2023, SABECO reported sales and service revenue of VNDD30.7 trillion and a post-tax profit of VNĐ4.25 trillion. This success translated to a solid basic earnings per share (EPS) ratio of VNĐ3,132 per share. Additionally, the company's equity rose from VNĐ24.5 trillion at the end of 2022 to VNĐ25.4 trillion by the end of 2023, reflecting steady financial growth.

Known for its tradition of delivering high dividends to shareholders, SABECO paid a recent dividend of 15 per cent of the par value of its shares (equivalent to VNĐ1,500 per share) in February 2024. This dividend was sourced from the company's undistributed profits, which totaled over VNĐ10.2 trillion at the end of 2023, underscoring SABECO’s strong financial position.

Turning challenges into opportunities

As SABECO looks ahead to 2024, it remains mindful of the economic hurdles that lie ahead. Experts predict continued global challenges due to tight financial conditions and heightened financial risks. While inflation may slow, it is expected to remain above target in many countries, with ongoing risks related to energy and food supply chains exacerbated by global competition.

Despite these obstacles, SABECO is committed to transforming challenges into opportunities. The company is equipped with diverse business strategies and a forward-thinking mindset, ready to adapt to the evolving landscape.

Over the years, SABECO has effectively implemented solutions to control input costs, enhance product quality, and refine designs to meet a broad range of customer preferences. Additionally, the company has revamped its business and production processes to increase efficiency.

SABECO has also strengthened oversight of sales programmes to ensure consistency and effectiveness across its operations, positioning itself to meet sales targets.

The fundamental strategies that SABECO will continue to prioritise including strategies to manage and reduce costs effectively, innovative approaches to enhance market presence and sales performance, continuous enhancements to meet customer expectations and preferences and ongoing reform of production and supply chain processes for greater efficiency.

With these strategies in place, SABECO is poised to navigate the challenges of 2024 and capitalise on emerging opportunities, ensuring a bright future for the company and its stakeholders. —VNS