Brewer Sabeco profits fall to lowest level since Thai acquisition
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Vietnam’s largest brewer Sabeco said after-tax profit fell by over VND1 trillion (US$443 million) last year to VND3.93 trillion, the lowest since it was acquired by a Thai billionaire.
Its revenues were VND26.37 trillion, a decline of 6 percent. Thaibev owned by Charoen Sirivadhanabhakdi acquired the company in late 2017.
The firm blamed the Covid-19 outbreaks and subsequent restrictions in many provinces and cities across the country for the decline in performance.
The firm has undistributed profits of over VND13.66 trillion.
Vietnamese consumed 1.3 liters of beer per capita in 2020, according to the General Statistics Office. The country has a population of over 98.5 million.
Questions & Answers
Q.What was the total after-tax profit reported by Sabeco last year?
What was the total after-tax profit reported by Sabeco last year?
Sabeco's after-tax profit for the last year was VND3.93 trillion. This figure represents the lowest profit recorded since the company was acquired by a Thai billionaire.
Q.What reason did Sabeco give for the decline in its financial performance?
What reason did Sabeco give for the decline in its financial performance?
The firm attributed the fall in performance to Covid-19 outbreaks and the resulting restrictions. These measures were implemented in numerous provinces and cities across Vietnam.
Q.When did the Thai billionaire's company acquire Sabeco?
When did the Thai billionaire's company acquire Sabeco?
Thaibev, owned by Charoen Sirivadhanabhakdi, acquired Sabeco in late 2017. This acquisition marks a significant point in the Vietnamese brewer's recent history.
Q.What were Sabeco's total revenues last year?
What were Sabeco's total revenues last year?
Sabeco reported total revenues of VND26.37 trillion for the last year. This figure indicates a 6 percent decline compared to the previous period.
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