Vinamilk is committed to continuing brand, product innovation, and sustainable development

In 2023, Vinamilk will achieve revenue of VND 60,368 billion, an increase of 0.7% compared to 2022, marking the third consecutive year of income of more than VND 60,000 billion. Profit after tax reached VND 9,019 billion, up 5.2% over the same period and completing 105% of the year plan.

At the 2024 shareholders' meeting, Vinamilk set a revenue target of VND 63,163 billion, an increase of 4.4%, and a pre-tax profit of VND 11,516 billion, an increase of 5%.

Vinamilk General Director Mai Kieu Lien commented: "With the expectation that the macroeconomic situation will improve, Vinamilk's priority is to continue to restore market share and sales sustainably."

Vinamilk's Board of Directors also submitted the 2023 cash dividend plan to shareholders for approval at 38.5%. The company has paid VND 6,061 billion to advance three dividends to shareholders, with a total rate of 29%.

Vinamilk has another round of dividends at a rate of 9.5% (1 share receives VND 950). With 2.09 billion outstanding shares, the company plans to spend an additional VND 1,985 billion to pay dividends at the end of 2023.

In 2024, Vinamilk plans to maintain a dividend payment rate of 38.5% (1 share receives VND 3,850), equivalent to 2023. The company plans to spend over VND 8,000 billion, accounting for about 85% of the total profit target in 2024.

According to the financial report for the first quarter of 2024, Vinamilk's revenue and profit grew positively, of which profit increased by two digits.

Many shareholders are interested in the strategy of changing Vinamilk's brand identity and in many innovations in business, marketing, and products. After introducing new packaging, Vinamilk increased its domestic milk market share by nearly 3%. The brand value reached USD 3 billion, according to Brand Finance, and reached the Top 5 most sustainable milk brands globally.

Mr. Nguyen Quang Tri, Executive Director of Marketing of Vinamilk, said the company will continue introducing several products with new packaging and modern technology in 2024.

Vinamilk has more than 60 export markets; net revenue from export activities in 2023 will reach more than VND 5,000 billion, growing 4.4% compared to the previous year, exploring two new markets. In the first three months of the year, Vinamilk exported many large orders, including 300 containers, to the Middle East market.

Vinamilk is promoting a project with the leading Japanese corporation, Sojitz. With a capacity of 10,000 tons of meat/year, the project is expected to operate in 2024.

The meat processing factory area has completed about 95% of the essential construction volume. Currently, the project's products are being sold on a trial basis in some supermarkets such as Aeon, Mega Market, Kingfood, and Coop-mart.

In 2023, Vinamilk also announced a roadmap to Net Zero and had the first two units of the dairy industry to achieve carbon neutrality according to international standards PAS 2060:2014. Ahead of the 2024 General Meeting of Shareholders, Vietnam Beverage Factory becomes the third unit of Vinamilk to achieve this certification.

On the stock market, Vinamilk's shares have been in the Top 20 stocks rated with the best sustainable development index for seven consecutive years.