Vietnam: Saigon - Hanoi Beer Joint Stock Company’s Q3 net revenue up by 3%

According to the Q3/2026 financial report of Saigon - Hanoi Beer Joint Stock Company, the company’s net revenue reached VND 162 billion, an increase of approximately 3% compared to VND 158 billion in the same period last year.

However, the cost of goods sold increased from VND 138 billion to VND 145 billion, causing gross profit to decrease from VND 19.6 billion to VND 17 billion. Consequently, the gross profit margin decreased from approximately 12.4% to 10.4%.

In terms of financial activities, revenue reached over 3 billion VND, almost equivalent to the same period last year. Financial expenses decreased from nearly 1 billion VND to 279 million VND, while selling expenses reached 644 million VND.

Business management expenses increased slightly to VND 4.6 billion. Although the increase was not significant, this expense still accounted for a substantial proportion of the company's gross profit. After deducting expenses, net profit from business operations reached VND 14.6 billion, a decrease of approximately 16% compared to the same period last year.

In the third quarter, other income reached nearly 225 million VND, a significant increase compared to nearly 12 million VND in the same period last year. The company recorded results from other activities totaling 217 million VND.

As a result, after-tax profit reached VND 11.8 billion, lower than the VND 13.7 billion recorded in Q3/2025. This development indicates that the increase in revenue was not enough to offset the pressure from the cost of goods sold, leading to a decline in profitability in the third quarter.

In contrast to the developments in the third quarter, the cumulative business results for the first nine months of 2026 of Saigon - Hanoi Beer still recorded positive growth.

Specifically, net revenue reached VND 451 billion, an increase of 12% compared to VND 403 billion in the same period last year. After-tax profit reached VND 33 billion, an increase of approximately 70% compared to over VND 19 billion in the same period.

As of September 30, 2026, the total assets of Saigon - Hanoi Beer reached VND 442 billion, an increase of approximately 10% compared to the beginning of the year.

Of that total, short-term assets amounted to VND 387 billion, accounting for approximately 88%. Notably, cash and cash equivalents increased from VND 4.4 billion at the beginning of the year to nearly VND 50 billion at the end of the third quarter. Specifically, cash reached over VND 21 billion, while cash equivalents reached VND 28.5 billion.

In addition, short-term financial investments reached VND 230 billion, almost unchanged from the beginning of the year. Short-term receivables increased to over VND 63 billion.

Conversely, inventory decreased slightly to VND 44.5 billion. Long-term assets also decreased from VND 61 billion to VND 54 billion, mainly due to a decrease in the value of fixed assets after depreciation.

Regarding funding, total liabilities at the end of September reached over 125 billion VND, a 44% increase compared to the beginning of the year. The entire increase was mainly in short-term debt; long-term debt was only 354 million VND.

In the short-term debt structure, taxes and other payments to the State reached VND 93 billion, an increase of 57% compared to VND 59 billion at the beginning of the year. Accounts payable to suppliers also increased from over VND 11 billion to nearly VND 14 billion.

Meanwhile, equity capital reached VND 317 billion, a slight increase compared to the beginning of the year. Share capital remained at VND 180 billion; undistributed after-tax profit reached VND 97 billion, an increase from nearly VND 95 billion at the beginning of the year.

Saigon - Hanoi Beer Joint Stock Company is a subsidiary of Saigon Beer, Wine and Beverage Joint Stock Corporation, established in 2007. Its main business is the production of canned beer, bottled beer, and draft beer.

The company manages and operates a brewery with a capacity of 95 million liters of beer per year in the Tu Liem industrial cluster, Hanoi. The company's production and business activities mainly take place in Hanoi.

27 October, 2026