SABECO this month became one of seven units to be honoured at the Glory of Vietnam Program 2022, demonstrating the direction of the business in the implementation of cohesive business goals toward sustainable development.
|Initiatives like Collecting a Million Stars have helped SABECO give back to the community |
The event was just the latest success for SABECO as it looks to build on its near 150-year journey alongside Vietnam. In that time, the group has established its position as one of the leading corporations in Vietnam that shows a strong commitment to the sustainable development and prosperity of the country and its people.
On that basis, SABECO has focused on strongly developing high-quality domestic beer brands and raising the brand’s position in domestic and international markets, so that Vietnamese people can be truly proud of the Vietnamese brand.
Specifically, the company has built a sustainable development strategy focusing on the four main goals of country, culture, conservation, and consumption. Over the years, SABECO has supported many projects and community activities to honour the traditional cultural beauty of the Vietnamese people, contribute to the development of sports, culture, and tourism, and promote the improvement of human energy competitiveness for young Vietnamese talent.
Resonance from social activities
The latest good fortunes for SABECO come despite the difficulties faced by most brewers in 2020 and 2021. The company maintained jobs for more than 9,000 direct employees during the pandemic peak, and contributed nearly VND10 trillion ($435 million) to the state budget last year.
SABECO has also supported around the same amount for community support initiatives such as Rise with Vietnam, Collecting Millions of Stars, Tet-One Home, and more. The company not only covered additional human resource expenses, but also offered bonuses to employees.
Bennett Neo, general director of SABECO, said as a company with a long history in Vietnam, it is always committed to bringing out the best in the country.
“Along with our efforts to promote business activities and contribute to the socioeconomic development of Vietnam, we do not forget our responsibility in promoting and supporting the development of the community through sustainable development initiatives,” said Neo.
In recent years, SABECO and Bia Saigon have supported many activities to promote the development of domestic brands, while supporting cultural, culinary, and sporting activities in Vietnam. The company has also cooperated with agencies such as the Central Committee of the Ho Chi Minh Communist Youth Union to implement community initiatives such as Lighting up Country Roads and Raising Sports Steps, focusing on community development. At the same time, Bia Saigon is also a leading partner and sponsor for the Vietnam national football team.
This year marked the second time that Vietnam hosted the SEA Games, and Bia Saigon was proud of its role in contributing to the winning spirit of national sports teams, as well as supporting the development of outstanding young athletes. The company launched the Vietnam Wins Gold initiative aims to support the national sports teams and athletes during SEA Games 31, raising the love for sports and the positive spirit of the whole nation.
|SABECO was a proud sponsor at SEA Games 31, held in Vietnam earlier this year |
Thanks to the month-long initiative, Bia Saigon contributed more than $215,000 to support the training and development of young athletes to attain international achievements and bring about the best of Vietnamese sport. The scheme was part of a series of activities that Bia Saigon is conducting with the Ministry of Culture, Sports, and Tourism.
Bia Saigon is no stranger to the nation’s culture and sport; it supported events like the AFF Suzuki Cup in 2018 and the Tien Phong National Marathon in 2020, among other international sporting events. When the Bia Saigon brand was named Leicester City’s official sleeve sponsor in the same year, it made the Vietnamese corporation the first to support an English Premier League team.
Bright outlook for 2022
Since the pandemic peak has passed, SABECO has been proactive in its transmission strategy communication and brand promotion to boost sales.
This year the Bia Saigon brand combined two of the most beloved drinks together in one to launch the Bia Saigon Coffee-infused Beer. Previously, in April Bia Saigon Special was reborn with a new taste, packaging, and positioning to better meet the needs of consumers after more than 20 years in the market. Bia Saigon Special is particularly recognised by many Vietnamese people for its special taste and iconic packaging.
While retaining unparalleled quality, Bia Saigon Special has improved its taste by using carefully selected Yakima hops for a long-lasting refreshing taste.
Meanwhile, a series of securities companies have raised profit forecasts for 2022 and 2023 at SABECO after witnessing strong growth business in the first half of the year.
This year, SABECO targets $1.5 billion in net revenues and $200 million in after-tax profit, an increase of 32 and 17 per cent on-year. At the halfway point of the year, it accomplished about half of its revenue plan and 65 per cent of its profit goal.
Bao Viet Securities (BVSC) forecast that SABECO will achieve revenues of $1.48 billion this year, up 29 per cent over the same period; and profit after tax of parent company shareholders at around $243.5 million, up 52 .4 per cent over the same period last year. BVSC also forecasts SABECO’s profit in 2023 to grow by 18.6 per cent compared to 2022
Meanwhile, SSI Securities projects SABECO ‘s business results in 2022 with revenues of nearly $1.44 billion and profit after tax of $230 million, up 26 per cent and 35 per cent respectively compared to 2021. Profits next year are forecasted to grow by nearly 12 per cent.
SABECO comprises 26 beer manufacturing plants, 10 trading subsidiary companies, and hundreds of thousands of distributors and retailers nationwide. The company takes pride in providing some of the most beloved beer brands in Vietnam including Bia 333, Bia Saigon Special, Bia Saigon Export, Bia Saigon Lager, Bia Saigon Chill, Bia Lac Viet, Bia Saigon Gold, and Bia 333.
With a joint commitment to business investment and sustainable development, SABECO strives to create positive changes that will improve the position of Vietnamese brands, and at the same time promote positive development for the community and for Vietnam.