9 months completed nearly 75% of the 2024 plan, foreign market brought in 8,349 billion VND

Positive growth for the 5th consecutive quarter, Vinamilk 's revenue from foreign markets maintained good performance to "reach the finish line", the export segment had many bright spots. Accumulated in the first 9 months of 2024, the foreign market brought Vinamilk 8,349 billion VND, up 15.7%.

Vinamilk: 9 months completed nearly 75% of 2024 plan, foreign market brought in 8,349 billion VND

Positive growth for the 5th consecutive quarter, Vinamilk's revenue from foreign markets maintained good performance to "reach the finish line", the export segment had many bright spots. Accumulated in the first 9 months of 2024, the foreign market brought Vinamilk 8,349 billion VND, up 15.7%.

In the first 9 months of 2024, the foreign market is considered Vinamilk's "booster" with a growth rate of nearly 16%. Although the domestic market faced difficulties due to Typhoon Yagi in the third quarter, total revenue in the first 9 months of 2024 still maintained a 3.3% increase, completing nearly 75% of the annual plan.

Foreign market revenue increased by 15.7%, maintaining the "push" for growth

In the third quarter of 2024, revenue from the export market continued to grow positively for the fifth consecutive quarter, continuing to be the growth driver for Vinamilk. Specifically, revenue from the export segment increased by 10.3% and foreign branches (such as in the US, Cambodia, etc.) increased by 8.5%. In the first 9 months of 2024, Vinamilk's net revenue from the foreign market brought in VND 8,349 billion, an impressive increase of 15.7% over the same period.

Revenue for the first 9 months of the year from export activities in particular and foreign markets (including foreign branches) of Vinamilk in 2022-2024

To expand exports, Vinamilk maintains its focus on emerging markets, taking advantage of free trade agreements and building strategic partnerships. Vinamilk representatives said they are receiving positive signals from high-end markets, where there is a large Vietnamese community, so there is a high demand for Vinamilk products such as sweetened condensed milk and yogurt. The company is also diversifying its approach and exploiting the market by participating more deeply in international retail, distribution and supply chains.

Besides the dairy segment, Vinamilk is developing “non-dairy” products (products other than milk) for export, for example Vinamilk Cocofresh coconut water is currently exported to the US, Canada, Japan, Taiwan... In Taiwan, besides condensed milk, fresh milk, yogurt, Vinamilk has exported a new product, 100% pure bottled CocoFresh, which is expected to be positive when the 2nd and 3rd orders will be exported by the end of this year....

The “green” factor according to sustainable development trends is also used by Vinamilk as a competitive advantage when exporting to create a “new breeze”. In Australia and New Zealand, thanks to meeting strict requirements for environmentally friendly packaging, Vinamilk has joined the supply chain of the largest international supermarket systems in the Oceania region such as Costco, Woolworths, Foodstuff... In these two markets, Vinamilk recorded revenue growth of more than 50% compared to the same period last year. Vinamilk is also promoting exports to South America and Africa.

According to the latest report, despite difficulties in domestic business due to the general impacts of Typhoon Yagi, the total accumulated revenue of the enterprise in the first 9 months still reached 46,339 billion VND, up 3.3% over the same period. In addition to maintaining business operations, Vinamilk is also one of the enterprises that has provided much support to people affected by natural disasters, with nearly 1.8 million essential nutritional products equivalent to nearly 10 billion VND, contributed by Vinamilk, employees and customers through the programs.

Products: Innovative packaging, diverse flavors, less sugar

In the third quarter, Vinamilk continued to make a series of improvements in both product packaging according to the new brand identity and the launch of new products. Notable products include: 100% fresh milk with coconut flavor, premium low-sugar yogurt with blueberry, pomegranate, aloe vera flavors..., Probi live culture yogurt drink with new packaging.

Notably, these products all have positive business results. This also shows that Vinamilk's changes are going in the right direction and have a positive impact on the market.

Multi-flavor and low sugar are some of the attractive factors of Vinamilk products to consumers.

Vinamilk Probi live culture yogurt drink is a product that is "scoring" from its colorful new look to its diverse flavors. According to brand health assessment research, Probi's favorite "Flavor Diversity" rating index increased impressively from 80% in 2022 to 94% in 2024. Revenue in the first 9 months of the year of this product also increased by nearly 30% over the same period.

The innovations introduced by Vinamilk also meet the growing trend of “low sugar” consumption.

In addition to the core groups, to expand the secondary product lines, Vinamilk also changed the packaging series for nut milk, ice cream, soft drinks... In particular, Vinamilk Nut Milk, after a short time of launching, has risen to the leading position in the market in terms of market share (excluding soy milk), with revenue in the first 9 months of the year doubling compared to the same period.

These innovations and improvements, along with the products to be introduced in the fourth quarter, are considered by Vinamilk's leaders to be important drivers of growth in the coming time. In the newsletter sent to investors in the third quarter, Ms. Mai Kieu Lien - General Director of Vinamilk, added that the company is implementing many plans to stimulate the domestic market in the final period of the year, while maintaining high growth momentum in foreign markets to complete the business plan set for 2024.

Vinamilk also maintained its total revenue target of VND63,163 billion for the whole year. The company identified growth momentum as coming from the recovery of consumer sentiment in the domestic market and maintaining growth momentum in export markets, while optimizing production costs.

In addition, a notable information is the listing of the depository certificate “VNM19” on the Stock Exchange of Thailand. This is a derivative product based on the underlying VNM securities, issued by Yuanta Securities Company (Thailand). Specifically, VNM19 is an investment tool that allows investors in Thailand to trade VNM securities in local currency and existing securities accounts. Depository certificates can bring many advantages, expanding and diversifying investor exposure with higher liquidity, improving corporate governance efficiency according to international standards.

Source: https://baodautu.vn/vinamilk-9-thang-hoan-thanh-gan-75-ke-hoach-nam-2024-thi-truong-nuoc-ngoai-mang-ve-8349-ty-dong-d228784.html