Haidilao earns more than 2,200 billion VND/year in Vietnam

Vietnam ranks fourth in Haidilao's list of markets with the largest global revenue. (Photo: Haidilao)

According to the 2024 financial report submitted to the US Securities and Exchange Commission (SEC) of Super Hi International - the operator of the Haidilao hotpot restaurant chain in the international market (ie excluding China) - the revenue of this hotpot restaurant system reached 778 million USD, an increase of 13% compared to the previous year.

Excluding China, Singapore continued to be Haidilao's largest market with revenue of $158.9 million. The US ranked second with $103.5 million, followed by Malaysia with $81.2 million.

Notably, in Vietnam, Haidilao continues to maintain its revenue growth momentum year by year, from 75.4 million USD in 2022 to 78 million USD in 2023 and reaching 87.8 million USD in 2024 (equivalent to more than 2,246 billion VND converted). With this result, Vietnam contributes more than 10% of Haidilao's total global revenue (excluding China).

Before 2022, revenue from the Vietnamese market was not counted separately but was included in the "other countries" group in Super Hi International's report.

Entering the Vietnamese market in 2019 with the first store at Bitexco (HCMC), Haidilao has now opened 17 locations in HCMC (10), Hanoi (6) and Nha Trang (1).

Last year, this hotpot restaurant chain served 29.9 million customers in all markets outside China, up nearly 11% compared to 2023, with an average revenue of 25 USD per diner (about 640,000 VND), slightly more than 0.2 USD compared to the previous year.

Haidilao also boosted revenue diversification with a 15% increase in delivery services thanks to partnerships with food delivery platforms. Meanwhile, operating profit increased 23.7% to $53.3 million thanks to cost cuts and supply chain optimization.

Despite growth in revenue and traffic, Haidilao’s net profit fell 15% year-on-year to $21.4 million in 2023, with Super Hi International citing exchange rate fluctuations as the main reason.

2024 marks an important step forward for Haidilao as it enters two potential markets in Southeast Asia, the Philippines and Cambodia, for the first time. This brings the total number of restaurants to 122 in 14 countries, 7 more than the previous year (excluding China).

Southeast Asia continues to be a key market with 73 restaurants, followed by North America (20) and East Asia (19) along with other regions such as the UK, Australia, and UAE.

With positive business signals, Haidilao is affirming the effectiveness of its global expansion strategy and enhancing customer experience with technology, thereby firmly consolidating its position in the international market.

(Source: Zing News)

Link: https://znews.vn/haidilao-thu-hon-2200-ty-dongnam-o-viet-nam-post1542021.html

Source: https://vtcnews.vn/haidilao-thu-hon-2-200-ty-dong-nam-o-viet-nam-ar934801.html