OUR STORY

In 1976

Vinamilk was established namely Southern Coffee and Milk Company and took over 03 dairy factories including Thong Nhat dairy factory, Truong Tho dairy factory, and Dielac. powdered milk factory.

In 2003

Capitalized and officially became a joint stock company under the name of Vietnam Dairy Products JSC.

In 2006

Official listed on the Hochiminh City Stock Exchange (HOSE) on January 19, 2006.

In 2010

Contribution of USD 10 million to Miraka Limited, thereby holding 19.3% of the subsidiary’s share capital, which was then increased to 22.81% in 2015.

In 2022, Miraka is an affiliated company with the ownership rate of 16.96% due to Miraka's new issuance.

In 2013

Thong Nhat Thanh Hoa Dairy Cow Co., Ltd. became a subsidiary of Vinamilk with 96.11% of share capital owned by the Company. In 2017, it became a wholly-owned subsidiary of Vinamilk.

Acquisition of 70% share capital of Driftwood Dairy Holding Corporation in California, USA and official holding of 100% of its share capital in May 2016.

In 2014

Contribution of 51% share capital to establish Angkor Dairy Products Co., Ltd. in Cambodia, which was then increased to 100% in 2017.

In 2016

Contribution of 20% share capital of APIS JSC.

In 2017

Acquisition of 65% share capital of Vietnam Sugar JSC. Acquisition of 25% share capital of Asia Coconut Processing JSC.

In 2018

Investment in 51% share capital of Lao-Jagro Development Xiengkhouang Co., Ltd.

In 2019

Completed the acquisition of 75% share capital of GTNfoods JSC, thereby controlling Moc Chau Dairy Cow Breeding JSCthat owns a herd of 27,500 cow heads.

In 2021

Contributing 50% capital to establish a joint venture with Del Monte Philippines, Inc.(DMPI) – a leading food and beverage corporation in Philippines and has officially launched products since Q4/2021

In May

Vinamilk and Moc Chau Dairy Cow Breeding JSC started the construction of “Moc Chau Hi-tech and Ecological Dairy farm” and received the Approval Decision of investment for Moc Chau Hi-tech Dairy Factory, officially built Moc Chau Dairy Complex.

In July

Vinamilk received 1000 purebred HF dairy cows imported directly from the US and brought to Vinamilk Lao-Jagro Farm, Laos.

In November

Vinamilk announced to raise the total investment capital for projects in Cambodia to USD 42 million, equivalent to nearly VND 1,100 billion, and planned to build a dairy farm with raw milk production reaching over 4,000 tons per annum.

In 2022
In March

Vinamilk contributed an additional capital of USD 8,220,273 (equivalent to VND 188,902 million) to Lao-Jagro Development XiengKhouang Co. Ltd, increased its ownership from 85.54% to 87.32%; share swapping and merging GTNFoods into Vietnam Livestock Corporation (Vilico).

In November

Vinamilk announced to raise the total investment capital for projects in Cambodia to USD 42 million, equivalent to nearly VND 1,100 billion, and planned to build a dairy farm with raw milk production reaching over 4,000 tons per annum.

In May

Vinamilk and Moc Chau Dairy Cow Breeding JSC started the construction of “Moc Chau Hi-tech and Ecological Dairy farm” and received the Approval Decision of investment for Moc Chau Hi-tech Dairy Factory, officially built Moc Chau Dairy Complex.

In July

Vinamilk received 1000 purebred HF dairy cows imported directly from the US and brought to Vinamilk Lao-Jagro Farm, Laos.

USD 7
BILLION

Market capitalization - The largest F&B corporation listed on HOSE

USD 2,8
BILLION

Brand value in 2022 (increase by 18% compared to last year), according to Brand Finance Vietnam

36TH
Rank

in the top global dairy companies in terms of sales

TOP 1
in Vietnam dairy industry in terms of market share given:
Above
146,000
heads of cows in the system of dairy farms (including Vinamilk farms and local farmers)
15
dairy farms in Vietnam and Laos
16
domestic and foreign dairy factories with advanced production technologies
250 SKUs
within the product portfolio
230,000
points of sale in distribution coverage

VINAMILK’S BUSINESS MODEL

WHAT WE DEPEND ON
STAKEHOLDERS
Suppliers and partners

We are working closely with nearly 5,000 local farmers on a herd of about 110,000 cow heads.

Employees

The whole group has 9,506 employees as of December 31, 2022.

Community

The year 2022 marks the 15th anniversary of the Stand Tall Vietnam milk fund. We continue to accompany the chief nursing club and the elderly across the country, while promoting the implementation of the School Milk project.

Regulators

We are committed to developing the local economy and the industry in compliance with the law.

Shareholders

We are not subject to foreign ownership limit. The shareholder structure remains diversified with the ratio of foreign/domestic investors at 56%/44% and institutional/retail investors at 93%/7% (as of December 23, 2022).

Customers and consumers

We are committed to providing customers and consumers with high-quality, diverse nutritional products suitable for each customer segment through a distribution system of nearly 230,000 points of sale across Vietnam. The cumulative export market covers 57 countries/regions.

RESOURCES
Environment

Our operations depend on renewable and non-renewable resources, especially soil, water and forests.

Product

We currently have 250 SKUs in our product portfolio with 04 main categories including Liquid Milk, Yogurt, Condensed Milk and Powdered Milk.

Infrastructure

We are operating a system of 15 farms and 16 factories in Vietnam, Cambodia, Laos and the United States.

Financial health and Corporate governance
(as at 31 December 2022)

Total assets
VND 48,483 billion

Total equity
VND 32.817 billion

Total debt
VND 15.666 billion

We maintain the operation of 04 functional committees under the Board of Directors.
VISION, MISSION AND 5-YEAR DEVELOPMENT STRATEGY
Vision

To become Vietnam’s proxy of trust in nutrition and health products for human life.

Mission

To provide the community with top-class nutrition and quality with respect, love and responsibility for human life and society.

Five-year development strategy 2022-2026

To develop superior products and experiences for consumers, and consolidate the leading position in Vietnam’s dairy industry.

To step up technology application and implementation of international standards for sustainable development.

To create new business opportunities through mergers and acquisitions, joint ventures and venture capital.

To become a destination for talent, and nurture a corporate culture that values innovation and creativity.

THE VALUE WE CREATEd IN 2022
RESOURCES
Environment

The green energy use rate in production activities reached 87%.

The recycled water level used for agriculture was 85%.

The reused animal waste was 100%.

Product portfolio

Launched new and re-launched over 20 products. Improved packaging and design for many flagship products.

Infrastructure

100% farms are certified to GlobalG.A.P and ISO 9001:2015.

04 farms certified Organic EU and 03 farms certified Organic China.

100% factories certified to ISO 9001:2015, FSSC 22000, Halal.

Financial health and Corporate governance
Total consolidated revenue
VND 60.075
billion
Consolidated profit after tax
VND 8.578
billion
Expected dividend payout ratio
94%
Number of independent BOD members
3/10
Number of female BOD members
3/10
VALUE CHAIN
Upstream
Research and Development
Our marketing and R&D teams have a deep understanding of consumers and the expertise to develop products that match their needs.
Raw material area
We work closely with our suppliers to ensure their goods and services meet quality, environmental and social requirements, in addition to our strict internal standards.
Manufacture
We implement a safe, standardized manufacturing process in line with international standards. We also strive to achieve eco-efficient processes that maximize efficiency without polluting the environment.
Downstream
Distribution
An extensive distribution system and network ensures our products are effectively distributed to consumers. We strive to boldly adopt new operation models that meet the needs of domestic production and export quickly, cost-effectively, and in compliance with the law.
Marketing and Sales
We show responsibility to consumers and society by providing better products in terms of quality and more transparency in label information. We also obtain feedback from customers to create sustainable value for both consumers and the Company.

Financial Performance SUMMARY

Revenue (VND Billion)
52,629
2018
56,400
2019
59,723
2020
61,012
2021
60,075
2022
EBITDA (VND Billion)
13,730
2018
14,853
2019
15,871
2020
15,132
2021
12,757
2022
NPAT (VND Billion)
10,206
2018
10,554
2019
11,236
2020
10,633
2021
8,578
2022
Total Assets (VND Billion)
37,366
2018
44,700
2019
48,435
2020
53,332
2021
48,483
2022
EPS (VND)
5,295
2018
4,565
2019
4,770
2020
4,517
2021
3,632
2022
Payout Ratio (%)
71%
2018
74%
2019
71%
2020
76%
2021
94%
2022
(VND Billion)
Target
2018
2019
2020
2021
2022
Profit and Loss Statement
Revenue
52,629
56,400
59,723
61,012
60,075
EBITDA
13,730
14,853
15,871
15,132
12,757
NPAT
10,206
10,554
11,236
10,633
8,578
Balance sheet
Net Cash
8,921
9,626
11,941
13,916
14,781
Total Assets employed
26,727
30,257
34,220
36,260
33,174
Short-term Borrowings
1,060
5,351
7,316
9,382
4,867
Long-term Borrowings
216
123
167
76
66
Financial Ratio
ROE
39%
35%
33%
30%
26%
Gearing Ratio
5%
18%
22%
26%
15%
Per share
EPS
5,295
4,565
4,770
4,517
3,632
Dividend payout ratio
71%
74%
71%
76%
94%
(Dự kiến)
Stock Price (VND)
115,600
116,500
107,800
90,400
76,100
Number of outstanding share
1,742
1,742
2,090
2,090
2,090
Market Capitalization
201,339
202,907
225,297
188,932
159,046

BOARD OF DIRECTORS

Mr. Nguyen Hanh Phuc
Chairman of the Board of Directors, Independent member
Head of the Nomination Committee
Member of Remuneration Committee
Mdm. Mai Kieu Lien
Executive BOD member
Chief Executive Officer
Head of Strategy Committee
Member of Nomination Committee
Mr. Alain Xavier Cany
Non-Executive BOD member
Member of Strategy Committee
Member of Audit Committee
Mrs. Dang Thi Thu Ha
Non-Executive BOD member
Member of Strategy Committee
Member of Nomination Committee
Mr. Do Le Hung
Independent BOD member
Head of Audit Committee
Mr. Michael Chye Hin Fah
Non-Executive BOD member
Member of Audit Committee
Member of Remuneration Committee
Mr. Le Thanh Liem
Executive BOD member
Executive Director - Finance, cum.
Chief Accountant
Member of Strategy Committee
Mr. Hoang Ngoc Thach
Non-Executive BOD member
Member of Audit Committee
ember of Remuneration Committee
Mr. Lee Meng Tat
Non-Executive BOD member
Member of Strategy Committee
Member of Nomination Committee
Mrs. Tieu Yen Trinh
Non-executive BOD member
Head of Remuneration Committee

KEY MANAGEMENT

Mr. Trinh Quoc Dung
Executive Director
Dairy Development
Mrs. Bui Thi Huong
Executive Director
HR, Admin and Public Relations
Mr. Nguyen Quoc Khanh
Executive Director
Research and Development
Mr. Le Hoang Minh
Executive Director
Production
Mr. Nguyen Quang Tri
Executive Directo
rMarketing