Sabeco makes $3.9 million a day from beer sales

By Phuong Dong October 25, 2019 | 11:25 pm PT

A drinker holds a bottle of Saigon Beer, a product of Sabeco, at a restaurant in the Old Quarter in Hanoi. Photo by Reuters/Kham.

Vietnam's biggest brewer Sabeco reaped VND90 billion ($3.87 million) in revenue a day in January-September, a double-digit rise.

In its latest financial report, the Saigon Beer Alcohol Beverage Corp reported revenues of over VND28.3 trillion ($1.22 billion) in nine months, up 10 percent year-on-year. Revenue from beer in the period accounted for 86 percent of total, or VND24.3 trillion ($1.04 billion).

In the third quarter alone, post-tax profit was highest among all brewers in Vietnam at almost VND1.46 trillion ($62.76 million), up over 40 percent year-on-year.

Sabeco has paid almost VND8.2 trillion ($352.46 million) in taxes this year. Its total capital as of Q3 was VND24.78 trillion ($1.07 billion), up 10.7 percent from the beginning of the year.

Sabeco is owned 53.59 percent by Vietnam Beverage, a subsidiary of Thai beverage company ThaiBev. The Vietnamese government, represented by the Ministry of Industry and Trade, owns a 36 percent stake in the company.

ThaiBev has said earlier that Sabeco is its key growth driver in Southeast Asia as the region’s consumption slows down.

Vietnam consumed 4.1 billion liters of beer in 2017, making it the biggest alcohol market in Southeast Asia and the third biggest in Asia after Japan and China, according to the Ministry of Health.