HCMC – Vietnam Dairy Products JSC’s (Vinamilk) export revenue grew nearly 16% year-on-year in the first nine months of this year, countering domestic sales challenges caused by typhoon Yagi. This growth helped drive a 3.3% rise in total revenue, putting the company on track to reach its annual target.
Export revenue increased for the fifth consecutive quarter, with the third quarter of 2024 seeing a 10.3% jump in direct exports and an 8.5% rise in revenue from overseas branches. Vinamilk’s total export revenue reached VND8.35 trillion by the end of September, a 15.7% year-on-year increase.
The company has focused on emerging markets and leveraged free trade agreements to expand its global footprint. Products like condensed milk and yogurt are gaining popularity in premium markets with large Vietnamese communities. Vinamilk has also secured its place in international retail and distribution chains.
Beyond dairy products, Vinamilk is exporting non-dairy products like Cocofresh coconut water to the U.S., Canada, Japan, and Taiwan. While non-dairy revenue remains small, it supports Vinamilk’s broader expansion strategy.
In Australia and New Zealand, Vinamilk entered major retail chains like Costco and Woolworths after meeting eco-friendly packaging standards. The company reported over 50% revenue growth in both markets and is now targeting South America and Africa.
Despite domestic disruptions, the dairy manufacturer achieved VND46.34 trillion in revenue in the first nine months, up by 3.3% year-on-year.
Mai Kieu Lien, CEO of Vinamilk, said that the company will focus on boosting domestic demand in the fourth quarter while maintaining export growth to meet its 2024 revenue target of VND63.16 trillion.
Closing the trading session today, October 31, Vinamilk’s VNM shares on the Hochiminh Stock Exchange extended their losing streak to the fifth straight session with a slight 0.3% decline to VND66,100, with a matching volume of nearly 5.2 million shares.
With 199 winners and 169 losers, Vietnam’s benchmark VN-Index gained 5.85 points, or 0.46%, to close at 1,264.48 on Thursday, fueled by strong trading volume and increased transaction value.
The southern exchange saw over 614.2 million shares worth VND18.05 trillion being traded, a 14% rise in volume and a 42% surge in value over the session earlier. Block deals accounted for a notable portion, with more than 145.1 million shares worth VND7.08 trillion, led predominantly by MSN shares. Over 76.38 million MSN shares worth over VND5.6 trillion were transacted through block deals.
The VN-Index ended October down by 1.82% from the previous month, losing over 23 points.
Bank stocks performed well, with VCB and CTG adding nearly four points to the main index. CTG improved by 2.73% to end at VND35,700 per share while VCB inched up by 2.1% to VND93,600 per share.
Real estate developer VHM took the lead by liquidity on the southern exchange, with over 23.7 million shares changing hands.
On the Hanoi Stock Exchange, the HNX-Index added 0.48 point, or 0.22%, to close at 226.36 points, with 69 advancers and 86 decliners. There were 36 million shares worth a total of VND585.4 billion traded on the northern market.
