SABECO has set a profit growth target of 8 per cent and proposed a 50 per cent cash dividend payout. — Photo courtesy of SABECO

HCM CITY — The Saigon Beer-Alcohol-Beverage Corporation (SABECO) posted a 5.6 per cent increase in after-tax profit in 2024, reaching nearly VNĐ4.5 trillion (US$172.4 million), with revenue growing by 4.6 per cent to VNĐ31.8 trillion.

The results, shared at its Annual General Meeting in HCM City on Thursday, reflect the company’s strategic focus on innovation, operational efficiency and sustainable development, amid a year of continued economic challenges.

Despite facing rising input costs, shifting consumer behaviours and increasing competition across the market, SABECO maintained a steady performance and continued to strengthen its leadership position in the domestic beverage industry. The company credited its success to a clear, long-term strategy anchored in commercial excellence, supply chain modernisation and a deepening commitment to environmental, social and governance (ESG) goals.

“2024, the year of the dragon, was a truly special year for SABECO. We didn’t just navigate challenges — we took decisive steps to overcome them and emerged stronger,” said the General Director of SABECO, Lester Tan.

“Looking ahead, we remain dedicated to building on this momentum by pursuing sustainable growth, maximising profitability and unlocking new opportunities. With the passion and commitment of our people, along with the trust of our stakeholders, I believe SABECO will continue to progress steadily on its growth journey.

"The company is well positioned to deliver sustainable and positive value not only for its shareholders, but also for the many local communities throughout the country where its operations are based.”

General Director of SABECO, Lester Tan, delivered a speech at the Annual General Meeting. — Photo courtesy of SABECO

A key factor in SABECO’s performance was its ability to respond swiftly to market dynamics. The company enhanced its commercial approach by investing in data-driven marketing initiatives tailored to Vietnamese consumers. This was evident in the continued success of Bia Saigon, which remained one of the most-chosen beverage brands in both urban and rural areas, according to Kantar’s Vietnam Brand Footprint 2024 study.

In response to changing preferences, SABECO introduced 333 Pilsner, a premium extension of one of its iconic brands. This product launch, along with efforts to boost SABECO’s presence across modern trade and e-commerce platforms, helped the company connect more effectively with younger and more urban segments of the market.

In terms of operations, SABECO accelerated the modernisation of its supply chain. Significant upgrades in logistics, procurement and warehouse management enabled the company to improve delivery service quality and reduce operational costs.

A highlight of 2024 was the official launch of the SABECO Beer Research & Development Centre (SRC) in November. The facility represents a major step forward in SABECO’s aim to develop new brewing technologies and introduce high-quality, innovative products for the local market.

The company’s ESG strategy continued to evolve as an integral part of its corporate philosophy. Environmentally, SABECO expanded its use of solar energy and implemented improvements in water efficiency across its production facilities.

Internally, the company launched its first Employee Engagement Survey to build a more inclusive and responsive workplace culture. SABECO also worked with central and local governments to support community development programmes in areas where it operates.

From a governance standpoint, SABECO reinforced its board-level oversight by strengthening its Audit and Risk Committees, with a third governance committee currently in development. These efforts contributed to SABECO’s recognition as one of Việt Nam’s Top 100 Sustainable Companies (CSI 100) in 2024 and its inclusion in the Top 10 Best Corporate Governance Companies, as ranked by Anphabe.

Looking to 2025, SABECO has set a profit growth target of 8 per cent and proposed a 50 per cent cash dividend payout. The company will continue to pursue efficiency improvements across its supply chain, while also investing in digital transformation and renewable energy to support long-term, sustainable operations.

SABECO plans to focus on portfolio optimisation and market expansion through brand-building and innovation. Its strategy includes strengthening distribution both domestically and internationally, with continued efforts to refresh and modernise its brand portfolio to better appeal to a new generation of consumers.

Continued research and development will play a key role in SABECO’s innovation journey. The company aims to maintain product quality while modernising its offerings and leveraging expertise from both local and international sources. Through this approach, SABECO believes it can remain agile and competitive in an evolving marketplace.

Chairman of the Board of Directors, Koh Poh Tiong, delivered a speech at the Annual General Meeting. — Photo courtesy of SABECO

Chairman of the Board of Directors Koh Poh Tiong said: “Our performance in 2024 has been a testament to our resilience, growth, innovative spirit and commitment to excellence. Looking ahead, we remain mindful of the evolving macroeconomic and geopolitical landscapes. However, we are cautiously optimistic about the future and prepared to seize the opportunities that lie before us.”

SABECO’s brewing capabilities also gained international recognition in 2024. The company won multiple top titles at the World Beer Awards and the International Beer Cup. These achievements add to a growing list of accolades from previous years, including Gold and Silver medals at the Beverage Testing Institute (BTI) in the United States, the Asia Beer Championship, the International Beer Awards and the Australian International Beer Awards.

With its strong track record, long-term strategic outlook and commitment to innovation and sustainability, SABECO continues to position itself as a leading enterprise in Việt Nam’s beverage sector, aiming to deliver positive contributions to both shareholders and the wider community. — VNS