SABECO has set ambitious goals for 2024, aiming for nearly US$1.4 billion in net revenue and a profit of $190 million. Photo courtesy of SABECO

HÀ NỘI — Saigon Beer-Alcohol-Beverage Corporation (SABECO) celebrated its recognition as one of the Top 10 Prestigious Companies in the Food and Beverage (F&B) sector for 2024, as awarded by Vietnam Report. This achievement marks the eighth consecutive year that SABECO has secured a place on this esteemed list.

The rankings are based on a rigorous evaluation process that considers three main criteria: financial performance, media reputation, and stakeholder surveys. Financial assessments draw from the most recent reports, while media reputation is analysed using a media coding method that tracks coverage across key media channels. Additionally, insights from industry experts and stakeholders help gauge public perception.

Vietnam Report noted that 2023 was a particularly challenging year, influenced by global events. These factors led to increased input costs, significantly impacting Việt Nam’s economy and the F&B industry, as companies faced higher production expenses due to supply chain disruptions and escalating material costs.

Despite these hurdles, Vietnamese F&B companies have showcased remarkable resilience. Many have adapted by refining strategies, optimising production processes, and exploring alternative solutions to counter external pressures. These adaptations have allowed businesses to navigate challenging conditions while fostering a foundation for growth.

Looking to the future, SABECO has set ambitious goals for 2024, aiming for nearly US$1.4 billion in net revenue and a profit of $190 million, which would represent increases of 13 and 8 per cent, respectively, compared to 2023.

In its second quarter of 2024, SABECO reported nearly VNĐ8.1 trillion ($324 million) in revenue - a slight year-on-year decrease of 2.7 per cent. However, after-tax profit rose by 9 per cent to $52.8 million, marking the highest profit SABECO has achieved in seven quarters since Q4 2022. The company’s gross profit margin also improved from 29.9 to 30.2 per cent, indicating a positive trend in operational efficiency.

SABECO’s strategy for 2024 focuses on enhancing brand presence and market development. This includes refining product offerings, restructuring distribution channels, and aligning marketing efforts with evolving consumer trends to bolster efficiency and control across various segments.

With aspirations to become a leading player not only in Việt Nam but also in the regional and global markets, SABECO remains committed to sustainable development through its 4C model: Consumption, Conservation, Country, and Culture. This framework emphasizes responsible beer consumption, environmentally conscious business practices, contributions to Việt Nam’s sustainable development, and the promotion of traditional Vietnamese cultural values. — VNS