Swire Coca-Cola records first-half revenue of $238 million in Vietnam

Swire Coca-Cola is the fifth-largest bottling partner of The Coca-Cola Company by global volume

The company's earnings before interest, taxes, depreciation, and amortisation reached $33.6 million, while its attributable profit stood at $11.75 million, according to Swire Pacific's 2023 Interim Results report.

Swire Coca-Cola successfully completed its new acquisitions in Vietnam and Cambodia in January 2023 and November 2022 respectively. These new bottling businesses bring Swire Coca-Cola’s franchise population to 877 million people.

As of the completion of the deal, Swire Coca-Cola now owns and operates three beverage production facilities, 18 production lines, and six distribution centres across Vietnam, with a direct and indirect workforce of over 3,500 people.

According to the report, the newly acquired franchise bottling business in Vietnam recorded a strong performance and began to contribute full-period revenue during the first half of 2023. In Cambodia, however, the company recorded an attributable loss as a result of the challenging conditions.

Swire Coca-Cola is the fifth-largest bottling partner of The Coca-Cola Company by global volume, with a franchise to manufacture, market, and distribute The Coca-Cola Company's products in Greater China, Cambodia, Vietnam, and the western US.

Along with the beverage business, Swire Pacific is also targeting Vietnam's property market. In 2020, its real estate arm, Swire Properties, agreed with City Garden JSC to develop The River, a luxury residential offering in Ho Chi Minh City.

The development, which was completed in August 2022, comprises 525 luxury apartments in three towers. Swire Properties has an effective 20 per cent interest in the development.

In 2021, Swire Properties made a minority investment in Empire City, a residential-led, mixed-use development in Ho Chi Minh City. It is under construction and is expected to be completed in phases up to 2028. Swire Properties invested through an agreement with Gaw Capital Partners, an existing participant in the development.

Coca-Cola Vietnam marks third restructure following deal with Swire Swire Coca-Cola Ltd. – a wholly-owned subsidiary of Swire Pacific Ltd. – has announced it has reached a definitive agreement to acquire Coca-Cola subsidiaries with bottling businesses in Vietnam and Cambodia. The deal marks the third restructuring effort of Coca-Cola Vietnam.

Swire Coca-Cola completes acquisition of Coca-Cola bottling business in Vietnam As a significant milestone in the company’s expansion into Southeast Asia, Swire Coca-Cola Ltd. – a wholly-owned subsidiary of Swire Pacific Ltd. – announced on January 2 the completion of its acquisition of Coca-Cola Beverages Vietnam Ltd. – the Coca-Cola bottling subsidiary in Vietnam.

Coca-Cola Vietnam's parent firm Swire Pacific sells US subsidiary in strategic shift Swire Pacific, the diversified conglomerate and the parent firm of Coca-Cola Vietnam, has recently become the second company in Hong Kong to undertake asset sales. The move comes as borrowing costs in the region have surged to unmanageable levels, prompting Swire to offload certain subsidiaries to reduce its debt burden and ensure financial stability, according to Bloomberg.