SABECO ramps up positive Chill spirit

According to a new SSI report, Saigon Beer-Alcohol-Beverage Corporation, known as SABECO, recorded impressive growth in both revenues and profit in Q3, reaching 102 and 196 per cent on-year, respectively, thanks to a strong background compared to the same period last year, high demand, and increased market share.

In spite of inflationary pressures, the brewer appears to have gained share within the mainstream segment, lessening the market share gap with its main competitor. The beer segment’s gross profit margin reached 34.7 per cent in 3Q/22 and, while barley futures have increased an average of 46 per cent on-year in the period, SABECO has effectively hedged for barley malt volume and prices for this quarter earlier in the year.

Beer gross profit margins have also been well-maintained, although slightly lower than its 37.6 per cent peak in the second quarter.

“We also noticed an improvement in SABECO’s brand health,” wrote SSI, which projected that its profit will increase by 4 per cent on-year due to the high comparative base of the previous year.

Meanwhile, Phu Hung Securities said, “We expect company revenues in 2022 to reach VND33.4 trillion ($1.45 million), up 32.3 per cent on-year due to the recovery in alcohol consumption and the World Cup that starts on November 20.”

SABECO has organised a collaboration with Vietnamese fashion designer Vo Cong Khanh to help bring in 2023 in style

This year, SABECO targets $1.5 billion in net revenues and $200 million in after-tax profit, a respective increase of 32 and 17 per cent on-year. In the first nine months of the year, the company had accomplished 96.6 per cent of its profit goal.

With Lunar New Year almost on the horizon, the company early this month kicked off a series of colourful and bold activities to welcome the festive season. Its latest campaign, called ‘Happy Chill Year - Walking on the Chill side’ offers a sneak preview of the collection ‘Chill Inside Out’, a collaboration with Vietnamese fashion designer Vo Cong Khanh.

Venus Teoh, deputy general director of SABECO, said, “This campaign is a continuation of our recent summer campaign that spread the spirit to Chill to the fullest with an optimistic attitude towards life in every situation whenever and wherever you are enjoying Bia Saigon Chill. There will be more activities coming to celebrate this festive season on the very last days of the year, and at the same time to rally everyone to welcome 2023 with a positive Chill spirit.”

Immediately after the preview event of the collection in Ho Chi Minh City, Bia Saigon Chill will begin implement a series of activities to last until December 31 across key cities in Vietnam.

It includes a variety of music shows and unique fashion and entertainment activities that will bring out Bia Saigon Chill’s colourful, refreshing, and exciting experience.

Previously, the brand was also successful in hosting “The Chill Fest” during its summer campaign with fresh, unique, and unexpected music performances to impress Vietnamese consumers.

With 147 years of brewing history, SABECO has established itself as one of Vietnam’s leading companies. The company boasts 26 breweries and 11 trading subsidiaries and has a distribution network of retailers nationwide. SABECO is proud to offer a brand portfolio that consists of some of the most well-loved beer brands in Vietnam, including Bia Lac Viet, Bia Saigon Chill, Bia 333, Bia Saigon Special, Bia Saigon Export, Bia Saigon Lager and Bia Saigon Gold.

Flagship brands Bia Saigon and Bia 333 have been consistently recognised for outstanding quality by prestigious local and international organisations. The brewer received a gold medal at the International Brewing Awards 2019; a gold, silver, and bronze at the International Beer Cup 2019; a gold and silver medal at the Australia International Brewing Award 2020; and a gold and silver medal at the Monde Selection Awards 2021.

With a commitment to sustainable development, SABECO strives to create positive changes by promoting development for the community via the pillars of consumption, conservation, country, and culture.

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SABECO teams up with the government to help workers enjoy Lunar New Year As Vietnam's traditional festival known as Tet draws near, Bia Saigon – SABECO's leading brand – has joined hands with the government and authorities to ensure workers enjoy a happier Lunar New Year.