Shoppers select dairy products at a supermarket in Vietnam. Photo: Truc Phuong
Vinamilk maintains strong growth momentum
Vietnam Dairy Products JSC (Vinamilk) reported impressive growth for the third quarter, with its revenue reaching nearly VND17 trillion (US$646 million), up over nine percent year on year.
The firm’s post-tax profit stood at over VND2.5 trillion ($95 million), a rise of 4.5 percent.
Vinamilk said that domestic sales contributed about 80 percent of its total revenue, while the remaining 20 percent came from international markets.
The company highlighted strong performances in Asia and Africa, along with significant contributions from Angkor Milk in Cambodia and Driftwood Dairy Holding in the United States.
The firm attributed the results to its brand modernization efforts, including a comprehensive packaging redesign and the launch of new products such as black sesame soy milk, oat milk, and Kombucha tea.
Vinamilk has also expanded its retail network and strengthened e-commerce sales channels.
Between January and September this year, Vinamilk achieved nearly VND46.68 trillion ($1.8 billion) in consolidated revenue and VND6.6 trillion ($250 million) in post-tax profit, meeting 72 percent and 68 percent of its full-year targets, respectively.
At the end of the third quarter, Vinamilk’s total assets reached some VND55.7 trillion ($2.1 billion), up sharply from the beginning of the year.
Cash and short-term investments accounted for more than 47 percent of the firm’s total assets, while the debt-to-asset ratio stood at 14.9 percent.
Shareholders’ equity surged to VND37.95 trillion ($1.4 billion).
Other players struggle to stay afloat
In contrast, LOF International Dairy Products JSC (IDP), known for brands such as Ba Vi milk, KUN milk, and Malto malt milk, faced continued profitability challenges.
In the third quarter, IDP recorded net revenue of over VND1.7 trillion ($64.6 million), a slight increase from the same period last year.
However, high selling and administrative expenses pushed the company into a VND12 billion ($456,090) loss after tax, marking its second consecutive quarterly loss.
During the January-September period, IDP generated some VND5.56 trillion ($211.3 million) in net revenue, but it reported a cumulative loss of VND63 billion ($2.4 million), underscoring ongoing operational difficulties.
As of the end of the third quarter, the company’s total assets had topped VND4.51 trillion ($171.3 million), with liabilities of about VND2.26 trillion ($85.8 million), nearly equivalent to its shareholders’ equity of VND2.25 trillion ($85.4 million).
Meanwhile, Moc Chau Dairy Cattle Breeding JSC (Moc Chau Milk) reported nearly VND720 billion ($27.4 million) in net revenue for the third quarter, slightly down from the same period last year.
Its post-tax profit amounted to VND106 billion ($4 million), a modest decline of about VND4 billion ($152,000) year on year.
At the end of the third quarter, Moc Chau Milk’s total assets were around VND2.6 trillion ($98.8 million), with liabilities of VND390 billion ($14.8 million).
The firm maintained a positive operating cash flow and continued investing in factory upgrades and raw milk production improvements.
Stock market performance
On the stock market, Vinamilk’s stock VNM closed the week at VND57,600 ($2.2), remaining among the blue-chip stocks in the VN30 index on the Ho Chi Minh City Stock Exchange.
Moc Chau Milk’s MCM shares were priced at VND24,450 ($0.92) apiece.
Notably, IDP shares were trading at VND192,000 ($7.3) on the Unlisted Public Company Market or Upcom, one of the highest prices in the dairy sector, although daily trading liquidity remained low.
