The brewer released a consolidated financial statement of its fourth quarter report for 2022, in which it recorded revenues of more than VND10.1 trillion ($430.68 million) in the period, a sharp increase compared to the first three quarters of the year and an increase of 11.4 per cent over the same period in 2021. The report released that in the last quarter, SABECO’s selling expenses increased sharply by more than 70 per cent to VND1.61 trillion ($68.6 million), mainly due to advertising and marketing expenses for the pre-Lunar New Year sales quarter. This is the main reason why SABECO’s profit after tax declined over the same period last year, in spite of the increase in net revenue by 11 per cent. For the whole of 2022, SABECO’s net revenues reached VND35.23 trillion ($1.5 billion), an increase of nearly one-third as compared to 2021. This is the highest profit since ThaiBev acquired it in 2017. Last year, business performance improved and was deemed higher than last … [Read more...] about SABECO sets itself up for stellar year of further gains
Thaibev
SABECO posts record after-tax profit in 2022
A beer production line at SABECO. The brewer saw revenue jump 33 per cent from 2021 to VND35.24 trillion (US$1.5 billion) last year as consumption bounced back after two years of COVID-19. — Photo courtesy of SABECO The Saigon Beer-Alcohol-Beverage Corporation (SABECO) has reported an impressive 40 per cent increase in after-tax profit for 2022, reaching a record high of VND5.5 trillion. In its financial report, the brewer saw revenue jump 33 per cent from 2021 to VND35.24 trillion (US$1.5 billion) last year as consumption bounced back after two years of COVID-19. In 2022, the company spent more than VND3 trillion on marketing and promotion activities, increasing VND870 billion compared to 2021 and double that of 2019. SABECO said the results were because they have implemented many sale support programmes and marketing activities to promote beer sales. In addition, they have also improved production effectiveness and cost-saving measures to reduce the impacts of increasing … [Read more...] about SABECO posts record after-tax profit in 2022