Vietnam: ThaiBev’s revenue from Vietnam business down 2.7% in fiscal year 2024

Thailand’s largest beverage firm Thai Beverage (ThaiBev) earned a revenue of THB58,319 million ($1.71 billion) in Vietnam in fiscal year 2024 (ending September 30, 2024), down 2.7% year-on-year, The Investor reported on December 13.

According to ThaiBev’s financial statements for the period, Vietnam was its second-biggest market, only behind Thailand as its home market with THB219,873 million ($6.44 billion).

Its global revenue grew 2.2% year-on-year to THB340,289 million ($9.97 billion). Vietnam accounted for 17.1% of the total.

ThaiBev, known for indirectly holding a 53.59% stake at Vietnamese major brewer Sabeco, also reported that all of the revenue in Vietnam was from the beer sector.

ThaiBev’s popular beer brands are Chang (Change Beer), Archa, Federbrau, Bia Saigon (Saigon Beer), and 333. The latter two are Vietnamese brands.

In the first three quarters of this year, Sabeco made a consolidated net profit of VND3,365 billion ($132.83 million) on revenue of VND22,940 billion ($906.7 million), up 6.1% and 4.6% year-on-year, respectively.

In November, Sabeco announced its plan to pay an interim dividend of VND2,000 (8 U.S. cents) a share for 2024 on the record as of December 27, 2024.

Vietnam Beverage, wholly owned by ThaiBev, is set to rake in VND1,374 billion ($54.26 million) worth of dividend from the move.

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