Vinamilk's revenue in Q2/2024 reached a new peak.

Vinamilk 's Q2 2024 business results showed several positive aspects. Notably, consolidated total revenue reached its highest level in history at VND 16,665 billion. The export segment surged with a growth rate of up to 37% compared to the same period last year.

Vinamilk announced its Q2/2024 business results with a number of highlights. Notably, consolidated total revenue reached its highest level in history at VND 16,665 billion, and this was also the quarter with the highest growth rate since the beginning of 2022. The export segment accelerated with a growth rate of up to 37% compared to the same period last year.

Revenue reaches new peak.

Vinamilk's consolidated revenue for the second quarter of 2024 reached VND 16,665 billion, surpassing the peak of VND 16,194 billion in the third quarter of 2021 to become the quarter with the highest revenue. This is also the quarter with the highest growth rate for the company since the beginning of 2022, with an increase of 9.5% compared to the same period last year.

This result was supported by both domestic and international business activities, with growth rates of 5.8% and 29.9% respectively compared to the same period last year. With the acceleration in Q2/2024, cumulative consolidated revenue for the first six months of 2024 reached VND 30,790 billion, an increase of 5.6% compared to the same period last year and completing 48.7% of the annual plan.

Vinamilk's consolidated revenue for Q2/2024 reached a new peak, with an impressive 9.5% increase compared to the same period last year (Unit: billion VND).

Gross profit margin expanded by 2 percentage points to 42.4% thanks to strong revenue growth and the company's proactive adjustment of purchasing policies to suit raw material price fluctuations. Consolidated after-tax profit in Q2 2024 reached VND 2,695 billion, an increase of 20.9% compared to the same period last year. For the first six months of the year, after-tax profit reached VND 4,903 billion, an increase of 18.6% compared to the same period last year and achieving 52.3% of the annual plan.

According to the financial report for the second quarter, Vinamilk maintains a healthy and highly liquid balance sheet, with total assets reaching VND 54,194 billion and a debt-to-asset ratio of 14.7%. Ms. Mai Kieu Lien, General Director of Vinamilk, stated in the information release that Vinamilk had an outstanding quarter, with consolidated total revenue setting a new record. More importantly, revenue growth was achieved across all segments, from domestic and export sales to member units both domestically and internationally.

According to Ms. Lien, this result stems from continuous product improvement, enhanced service quality, market expansion, optimized operational efficiency, and a strong innovation strategy over the past period. The company's leadership also expressed confidence in the 2024 business plan, with improving macroeconomic factors combined with the strong implementation of innovation strategies.

Exports are accelerating, while domestic revenue maintains a steady growth trend.

In terms of revenue structure, the overseas market contributed 18.5% of consolidated revenue in Q2/2024. Of this, net export revenue reached VND 1,740 billion, a 37% increase compared to the same period last year and higher than the 5.9% increase in Q1/2024.

Besides expanding into traditional markets, Vinamilk is opening up new opportunities by supplying global chains. This strategy is bringing Vinamilk products to more areas in Australia. Simultaneously, Africa and South America are also emerging as potential markets for the company.

Vinamilk's export revenue recorded "accelerated" growth in the second quarter of 2024.

In the coming period, Vinamilk will maintain its focus on emerging markets, leveraging free trade agreements and building strategic partnerships. In the second quarter, Vinamilk continued to strengthen trade promotion activities and international business connections by continuously participating in international trade fairs and exhibitions both domestically and abroad, such as Vietnam Sourcing, connecting with retailers and global supply chains, and exhibitions in China, South America, Japan, and Taiwan…

Vinamilk also leverages its sustainable development strategy as a competitive advantage in exports to create a "new wave." For example, products exported to Australia and New Zealand use environmentally friendly packaging, and it is projected that by 2025, 100% of products exported to these regions will use easily recyclable packaging.

With overseas branches in Cambodia and the US, net revenue in Q2/2024 reached VND 1,384 billion, a 21.8% increase compared to the same period last year and higher than the 9.6% increase in Q1/2024.

Meanwhile, the main revenue source from the domestic channel reached VND 11,850 billion in Q2/2024, a 3.8% increase compared to the same period last year and the highest increase in the last three quarters, thanks to double-digit growth in product categories such as drinking yogurt, condensed milk, and nut milk... due to numerous efforts in product improvement, distribution channel expansion, and effective marketing.

In June 2024, according to the prestigious "Brand Footprint" report from Kantar Worldpanel, Vinamilk was the most purchased dairy brand in Vietnam in 2024, and among the Top 3 most purchased FMCG manufacturers in both rural and urban areas. According to Kantar Vietnam, innovation and dynamism in meeting new demands are key factors that have helped Vinamilk maintain this position for the 12th consecutive year.

Sustainable development continues to be a focus for the company. 2024 marks the 17th year Vinamilk has implemented the "Vietnam's Rising Milk Fund," donating 630,000 boxes of milk to over 8,000 disadvantaged children. In addition, Vinamilk is strongly implementing its Net Zero 2050 action plan with activities such as greenhouse gas inventory according to ISO 14064, reforestation to absorb carbon, and moving towards carbon neutrality for its member units…

Vinamilk's action plan towards Net Zero 2050 received significant attention at the 2024 Global Dairy Conference held in the UK, and Vinamilk was the only Asian dairy company to receive the Asia Responsible Enterprise Award (AREA) 2024 – in the “Green Leadership” category.

Source: https://baodautu.vn/doanh-thu-quy-ii2024-cua-vinamilk-lap-dinh-moi-d221442.html