Ho Chi Minh City, April 24th, 2025 — At its Annual General Meeting, Saigon Beer-Alcohol-Beverage Corporation (SABECO) reported positive growth results across multiple fronts in 2024, driven by the company’s strategic direction and sustained efforts to enhance commercial excellence, strengthen market penetration, and enhance capabilities in innovation, production and supply chain.
SABECO remained resilient and agile in navigating uncertainties despite a challenging 2024 marked by rising input costs, changing consumer behavior, and intensifying market competition. The company upheld its business performance and reinforced its market position, affirming its commitment to being a leading Vietnamese company focused on sustainable growth and delivering long-term value to shareholders, partners, and consumers.
Net revenue reached VND 31,872 billion, a 4.6% year-on-year increase, while profit after tax rose to VND 4,495 billion (up 5.6%). These results reflect not just a return to form, but the strength of a clear strategy focused on elevating SABECO into a future-ready business while remaining deeply rooted in Vietnamese culture. It also affirmed the company’s resilience, anchored in a clear focus on long-term goals and agile adaptability to market dynamics, allowing it to maintain its leading position in the industry.
“2024, the year of the Dragon, was a truly special year for SABECO. We didn’t just navigate challenges—we took decisive steps to overcome them and emerged stronger,” said Mr. Lester Tan, General Director of SABECO. “Looking ahead, we remain dedicated to building on this momentum by pursuing sustainable growth, maximizing profitability and unlocking new opportunities. With the passion and commitment of our people, along with the trust of our stakeholders, I believe SABECO will continue to progress steadily on its growth journey. The company is well positioned to deliver sustainable and positive value not only for its shareholders, but also for the many local communities throughout the country where its operations are based.”
2024: A Year of Acceleration and Grounded Transformation
At the heart of SABECO’s 2024 success lies its commitment to three strategic pillars:
1. Commercial Excellence: SABECO strengthened its market presence by investing in data-driven marketing and brand initiatives grounded in local insights and Vietnamese identity. Iconic Bia Saigon has secured its place as one of the top most-chosen brands (beverage sector) in both rural and urban areas for 2024 (Kantar’s Vietnam Brand Footprint 2024 study). The company also introduced 333 Pilsner — a premium variant of its iconic brand — to meet evolving taste preferences. At the same time, SABECO boosted modern trade and e-commerce channels to better serve changing consumer behaviors, especially among younger and urban segments.
2. Supply Chain & Production Efficiency: SABECO accelerated its supply chain modernization strategy through investments in logistics, procurement, and production systems. Upgrades in warehouse and logistics management enhanced delivery service quality and improved cost efficiency. In November 2024, SABECO officially launched its Beer Research & Development Center (SRC), marking a significant milestone in the company’s journey to introduce new brewing technologies and develop world-class products for the local beer market. All this further reinforced the strength and stature of a proudly Vietnamese brand to all consumers.
3. ESG Commitment: SABECO’s ESG agenda continued to evolve as an integrated part of its business philosophy. On the Environment front, it expanded the use of solar energy and improved water efficiency. SABECO also launched an inaugural Employee Engagement Survey to foster a more inclusive workplace, all the while continuing its partnerships with central and provincial governments to support the community’s development. From a governance perspective, SABECO strengthened two key board-level committees (Audit & Risk), with a third underway. These efforts earned SABECO recognition as one of Vietnam’s Top 100 Sustainable Companies (CSI 100) and a Top 10 Best Corporate Governance Company in 2024 by Anphabe.
These strategic advancements in 2024 have not only strengthened SABECO’s foundation but have also delivered positive results, positioning the company for continued growth and success in 2025 and beyond. With a solid track record, SABECO aims to navigate the evolving market landscape and strengthen its position in the industry.
Looking Ahead: Sustaining Momentum into 2025
Entering 2025 amidst ongoing economic challenges, SABECO reaffirms its commitment to the core principles that have guided its growth journey:
- Supply Chain & Production Efficiency: The company continues to reinforce its supply chain, enhance digital channels, and prioritize sustainable growth by integrating renewable energy into its operations.
- Portfolio Optimization & Market Expansion: SABECO remains committed to accelerating sustainable growth through brand building, innovation, and operational efficiency. It aims to further strengthen its market presence by reinforcing brand equity, optimizing distribution strategies, and expanding both domestically and internationally.
- Brand Innovation: Continued focus will be placed on research and development to drive product innovation and elevate quality. The company will modernize and refresh its strong brand portfolio to better resonate with the new generation of consumers. By enhancing operational efficiency and leveraging both domestic and international expertise, SABECO is confident in its ability to stay adaptable and focused on long-term success.
- Commitment to Sustainable Growth: SABECO is dedicated to a sustainable, innovation-led, and community-oriented development strategy. This includes responsible resource management, operational excellence, and a focus on employee and community development, strengthening SABECO’s position as a sustainable enterprise that creates lasting positive impact on both the environment and society.
In line with these efforts, the company has set a target of 8% revenue growth and proposed a cash dividend payout of 50%.
Mr. Koh Poh Tiong, Chairman of the Board of Directors said, “Our performance in 2024 has been a testament to our resilience, growth, innovative spirit, and commitment to excellence.” said Mr. Koh Poh Tiong, Chairman of the Board of Directors. “Looking ahead, we remain mindful of the evolving macroeconomic and geopolitical landscapes. However, we are cautiously optimistic about the future and prepared to seize the opportunities that lie before us.”
With this strategic direction, SABECO remains steadfast in its commitment to strengthening its market position and advancing growth objectives, while continuing to generate positive and sustainable value for the company, its shareholders, and the wider community