Vinamilk has been ranked among the top 50 best listed companies in Vietnam for 10 consecutive years.

Mr. Nguyen Quang Tri – Marketing Executive Director of Vinamilk, received the Top 50 Best Listed Companies in Vietnam 2021 award from Forbes Vietnam. Photo: PV

A decade"Fire tests gold"

Recently, Vinamilk was honored by Forbes Vietnam as one of the 50 best listed companies in Vietnam in 2022, and is also the only enterprise in the Food & Beverage industry to be named on this list for 10 consecutive years from 2013 to the present with high rankings.

Forbes Vietnam notes that 10 years is a relatively long time to assess change. The changes in businesses also partly reflect the shift in the structure of the Vietnamese economy towards business and production sectors with higher technological content and value.

A representative from Vinamilk (sixth from the left), along with eight other businesses that have been included in Forbes' Top 50 list for 10 consecutive years, were specially honored at the event. Photo: PV

Maintaining its position as one of Vietnam's best-performing listed companies for 10 years has been a challenging journey for Vinamilk, marked by ups and downs and the need for continuous innovation and change to surpass itself and lead the market. In 2013, Vinamilk had revenue of VND 31,586 billion and after-tax profit of VND 6,534 billion. Vinamilk is a major contributor to the profits of the State Capital Investment and Business Corporation (SCIC), which manages capital in hundreds of privatized state-owned enterprises. From 2013 to 2021, Vinamilk's total contribution to the state budget reached VND 37,644 billion.

According to the 2022 business plan, Vinamilk's revenue doubled since 2013, reaching VND 64,070 billion. Estimated after-tax profit is VND 12,000 billion. Market capitalization is VND 180,572 billion, equivalent to USD 7.9 billion, as of December 31, 2021. VNM remains a "blue-chip" stock in the portfolios of foreign financial institutions such as Dragon Capital, VinaCapital, VCBF, etc.

Vinamilk is actively implementing potential projects to achieve the company's goals for the 2022-2026 period. (Photo courtesy of Vinamilk)

The list of 50 best listed companies in 2022, compiled by Forbes Vietnam, evaluated listed companies on the HSX and HNX through multiple steps. Companies needed to meet mandatory conditions regarding revenue and profit to be considered and were quantitatively scored based on five criteria: compound annual growth rate of revenue, profit, ROE, ROC, and EPS growth for the period 2017-2021. They also underwent qualitative research to assess the company's sustainable development: its position in the industry, sources of profit, quality of corporate governance, industry prospects, etc.

Vinamilk Green Farm – an ecological farm built by Vinamilk, exemplifies sustainable agricultural development. Photo: PV

Transform for a new journey.

In recent years, to create new growth drivers, Vinamilk has intensified investment and cooperation with many domestic and international partners to develop and expand the company, preparing for its development goals for the next five years. In a statement about Vinamilk's upcoming journey, Ms. Mai Kieu Lien, General Director of Vinamilk, said:"We should keep what's good and change what's not. And to change quickly, strongly, and effectively, in my opinion, the biggest points are: Product innovation - Innovation in thinking - Innovation in processes."

In 2021, Vinamilk also carried out many investment and joint venture activities such as investing in the construction of a milk factory in Hung Yen with an investment capital of VND 4,600 billion; cooperating with De Monte Group to distribute Vinamilk products in the Philippines market; and signing a memorandum of understanding with a Japanese partner worth USD 500 million for a beef cattle farming project in Vinh Phuc. Recently, in May 2022, Vinamilk commenced construction of the Moc Chau Dairy Paradise Complex with a total expected investment of up to VND 3,150 billion.

Vinamilk has also been the most popular milk brand among Vietnamese consumers for 10 consecutive years, according to Kantar Worldpanel's Brand Footprint Report.

Besides its achievements in business and production, over the past 10 years, Vinamilk has also been known as a leading and proactive enterprise in sustainable development. From 2013 to the present, Vinamilk has also accelerated the construction of most of its existing farms according to international standards such as European Organic and GlobalG.AP (Global Good Agricultural Practices).

Vinamilk has embarked on deploying renewable and clean energy at its factories and farms, applying the circular economy to utilize and regenerate resources, accelerating the process of reducing emissions throughout the value chain, and aiming for net zero emissions by 2050. Over 1 million trees have been planted in Vietnam, and tens of millions of glasses of milk have been donated to children through various community programs during this period.

In 2021, Vinamilk was ranked among the top 40 largest dairy companies in the world by revenue (according to Plimsoll, UK) and among the top 10 most valuable dairy brands globally (according to Brand Finance). To date, the company employs nearly 20,000 people across more than 40 domestic units and overseas branches. Vinamilk products have been exported to 57 markets, with cumulative revenue exceeding US$2.6 billion.