Brewer Sabeco profits fall to lowest level since Thai acquisition

By Phuong Dong January 26, 2022 | 09:47 pm PT

A manufacturing chain of Sabeco. Photo by Reuters/Kham

Vietnam’s largest brewer Sabeco said after-tax profit fell by over VND1 trillion (US$443 million) last year to VND3.93 trillion, the lowest since it was acquired by a Thai billionaire.

Its revenues were VND26.37 trillion, a decline of 6 percent. Thaibev owned by Charoen Sirivadhanabhakdi acquired the company in late 2017.

The firm blamed the Covid-19 outbreaks and subsequent restrictions in many provinces and cities across the country for the decline in performance.

The firm has undistributed profits of over VND13.66 trillion.

Vietnamese consumed 1.3 liters of beer per capita in 2020, according to the General Statistics Office. The country has a population of over 98.5 million.