Various types of profit and loss reports of beer suppliers in the first quarter of 2024

Sabeco's revenue leads the industry but profits only increase slightly

Standing out in the group is still the name Sabeco with the stock code SAB. By the end of the first quarter of 2024, Sabeco recorded net revenue of approximately VND 7,184 billion, an increase of 16% over the same period last year.

After deducting expenses, this enterprise's after-tax profit was nearly VND1,024 billion, a slight increase of 2% over the same period, and net profit was more than VND997 billion, equivalent to an increase of 3%.

SAB said its first-quarter revenue improved thanks to increased production and the favorable impact of price increases last year. This led to higher net profit, although it was mitigated by interest income from deposits (down 22%) and losses from joint ventures of more than VND11 billion (compared to VND44.5 billion in the same period).

On the balance sheet, as of the end of March 2024, SAB's total assets were more than VND 32,100 billion, down more than VND 1,900 billion (equivalent to a 6% decrease) compared to the beginning of the year.

Inventory was nearly VND2,200 billion, down VND125 billion. Cash and bank deposits were over VND21,408 billion. This category accounted for 67% of total assets. Thanks to bank deposits, interest on deposits in the first quarter brought Sabeco about VND234 billion in interest, down from the same period last year, in the context of the market's lowest interest rate in the past 20 years.

By the end of the first quarter, Sabeco's payables had decreased by about 34% compared to the beginning of the year, thanks to a reduction in short-term payables to suppliers and other short-term payables. In addition, total short- and long-term borrowings were VND731 billion, a slight increase of VND30 billion.

Despite increased advertising and promotion, Habeco reported a net loss of 5 billion

In contrast to Sabeco, Habeco (code: BHN) had a net loss of more than VND 5 billion in the first quarter of 2024, while in the same period it made a profit of more than VND 11 billion.

The reason for Habeco's net loss is that the unit increased investment in market activities.

Explaining the loss results, Habeco said that in the first quarter of 2024, sales expenses were nearly VND231 billion, up 13% over the same period, due to advertising, promotion and support costs increasing by 42% to nearly VND105 billion; staff costs increased by 21% to over VND34 billion. In addition, business management costs increased by 8% to over VND92 billion.

In addition, the decrease in deposit interest rates caused financial revenue in the first quarter to decrease by 16% to nearly VND38 billion, also affecting the business results of the Northern beer company. As of March 31, Habeco was depositing about VND3,464 billion in the bank.

Chuong Duong Beverage Joint Stock Company suffers continuous losses before delisting

On May 6, SCD shares of Chuong Duong Beverage JSC will be delisted and will have their last trading session on HOSE on May 3, 2024.

Ho Chi Minh City Stock Exchange (HOSE) has decided to delist SCD shares due to three consecutive years of losses and negative equity.

By the end of the first quarter of 2024, SCD still has not escaped the spiral of declining profits, when after-tax profit lost 17 billion VND.

Looking at the financial report, SCD's expenses all fluctuated strongly, such as interest expense of approximately 10 billion VND, an increase of 157%; sales expense of nearly 18 billion VND, an increase of 65%; especially other expenses such as land rent, depreciation... also more than doubled, nearly 3 billion VND.

As of March 31, the company's liabilities exceeded its total assets by more than VND29 billion. Of which, total financial debt was VND609 billion, accounting for 86% of total debt.

Consumption output increased, Saigon - Central Beer Joint Stock Company reported a profit of nearly 30 billion VND

By the end of the first quarter of 2024, Saigon - Central Beer Joint Stock Company (code: SMB) recorded net revenue of more than 327 billion VND, an increase of 29% over the same period in 2023, due to an increase in consumption of more than 7 million liters.

After deducting cost of goods sold and expenses, the company's pre-tax profit reached nearly 30 billion VND, equivalent to an increase of 49%.

However, in the context of the general difficulties of the industry, this profit level of SMB is still only low compared to the last 4 quarters.

At the end of the first quarter, SMB's total assets reached nearly VND935 billion, down more than VND80 billion compared to the beginning of the year. Cash and bank deposits decreased to VND303 billion; inventories were VND213 billion.

On the other side of the balance sheet, at March 31, the company's liabilities decreased by VND105 billion to VND313 billion, of which short-term loans and financial leasing debts decreased to VND81 billion.

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