Vinamilk’s Q3 after-tax profit reaches VND 2,533 billion, up 9.1%

Accumulated for 9 months, total revenue and consolidated profit after tax reached VND 44,848 billion and VND 6,669 billion, respectively, completing 71% and 77% of the year plan.

The business's sales activities were influenced by the general situation of the FMCG industry and the dairy industry. The fast-moving consumer goods industry will end the third quarter of 2023 with a 2% decrease in value compared to the same period in 2022 due to slowing growth in purchasing power of consumer goods and services. The entire dairy industry also recorded a decrease of 4%, according to the latest survey results by AC Nielsen.

However, Vinamilk's operating results are still better than the entire industry, thanks to which, its market share continues to be restored. Foreign markets contributed net revenue of VND 2,384 billion in the third quarter of 2023 and VND 7,218 billion accumulated in 9 months.

Photo: VNA

The achievements created a highlight in the export segment, with an increase of 5% thanks to the positive recovery from a number of markets with the political situation is more stable than in the first 6 months of the year, according to the company’s statement.  

Another positive signal came from China, after Vinamilk signed a cooperation agreement with two leading enterprises in the field of import and distribution to bring dairy products to this billion-people market.

From the beginning of the third quarter of 2023, Vinamilk also implemented marketing campaigns to increase media recognition for products. A series of liquid milk products are "redressed" to spread the brand repositioning effect. In the following quarters, the company will continue to introduce new packaging for the remaining product lines and expects to complete the packaging change by mid-2024.

Brand value upgraded to $3 billion helps Vinamilk maintain 6th position in the Top 10 most valuable milk brands globally and Top 2 strong global brands of the dairy industry. Recently, Vinamilk was also confirmed as the most valuable food brand in Southeast Asia.