Sabeco reports nearly VND1.8 billion profit in 2Q, up 67%

The company earned more than VND9,000 billion in net revenue in the reported quarter, up 25% from the second quarter of 2021.

The reopening of domestic and international tourism after the COVID-19 pandemic and the recovery of consumer demand has helped the company's revenue and profit improvement, the company said.

Besides, the good control of selling and administrative expenses helped Sabeco record a record high profit in a quarter so far. Sabeco's cost of raw materials increased less than revenue, helping gross profit margin jump to 34.24%.

This is also the highest level since Thailand's Thaibev took over the company and is up nearly 5 percentage points compared to the first quarter of this year. In addition, costs for advertising, promotions, and staff were reduced by 8% despite a sharp increase in sales.

In 6 months, the company recorded net revenue of VND16,315 billion and profit after tax of more than VND3,029 billion, up 25% and 47% respectively over the same period last year.

It is known that in 2022, Sabeco sets a target of VND34,719 billion in revenue and VND4,581 billion in profit after tax. Thus, after half a year, the company has achieved 47% of the revenue plan and 66% of the profit plan.

By the end of June, the company's total assets increased by 3% compared to the beginning of the period, reaching more than VND31,300 billion.

At the end of the period, Sabeco had a total of VND6,873 billion of liabilities, of which VND502 billion were short-term loans and VND343 billion were long-term loans, accounting for a small proportion of the capital structure.