Individual Assignment Sabeco Brewery.pdf
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<b>FPT UNIVERSITY - CAN THO CAMPUS </b>
</div><span class="text_page_counter">Trang 3</span><div class="page_container" data-page="3">Sabeco, also known as Saigon Beer Alcohol Beverage Corporation (VN: Tổng Công ty Cổ phần Bia – Rượu – Nước giải khát Sài Gòn), is a leading Vietnamese company in the alcoholic beverage industry. The company was founded in 1875 and is headquartered in Ho Chi Minh City, Vietnam. Recently, it has become a subsidiary of ThaiBev. SABECO is a public company and traded as SAB (HOSE).
<b>MARKET SHARE </b>
Sabeco holds a significant market share of approximately 40% in the Vietnamese beer market, making it the largest beer producer in the country. The company's main business is the production, distribution, and sale of alcoholic beverages, including beer, wine, and spirits. Sabeco's popular brands include Saigon Beer, 333 Beer, and Saigon Special Beer. In addition to its local brands, Sabeco also produces and distributes international beer brands such as Heineken and Tiger Beer through a licensing agreement with their respective owners.
<b>IMPORTANT PROJECTS </b>
Sabeco has implemented several important projects to support its business growth and expansion. One such project is the modernization of its production facilities, including the construction of new breweries and the upgrade of existing ones. The company has also invested in new product development and marketing initiatives to increase its market share and expand its customer base. Sabeco has been successful in these initiatives, and its products are sold throughout Vietnam and in many international markets.
</div><span class="text_page_counter">Trang 4</span><div class="page_container" data-page="4"><b>MARKET SHARE </b>
Habeco is one of the leading beer producers in Vietnam, holding a significant market share of approximately 18%. The production, distribution, and sale of alcoholic beverages, including beer, wine, and spirits is the company’s main business. Habeco's popular beer brands include Hanoi Beer, Truc Bach Beer, and Halida Beer.
<b>IMPORTANT PROJECTS </b>
One of Habeco's important projects is the expansion of its production facilities, which includes the construction of new breweries and the modernization of existing ones. The company has also been investing in new product development and marketing initiatives to increase its market share. In addition to its core business activities, Habeco is also involved in corporate social responsibility initiatives. The company has implemented various programs to support local communities and protect the environment. For example, Habeco has implemented a program to reduce its environmental impact by recycling waste materials and reducing energy consumption.
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equivalents 2.726.137.088.387,00 9,96 3.606.454.403.209,00 11,83 4.069.464.160.642,00 11,81 Short-term
investments 14.547.419.432.877,00 53,14 16.991.239.000.000,00 55,73 19.411.469.500.000,00 56,32 Short-term
receivable 590.846.416.109,00 2,16 467.956.130.071,00 1,53 897.692.694.315,00 2,60 Inventories
1.446.832.994.933,00 5,29 1.668.001.734.209,00 5,47 2.193.521.139.336,00 6,36 Other current
assets 202.145.520.134,00 0,74 143.382.054.775,00 0,47 288.077.079.370,00 0,84
LONG-TERM
ASSETS 7.861.591.322.918,00 28,72 7.609.991.050.161,00 24,96 7.604.851.042.093,00 22,07 Long-term
receivables 11.958.390.566,00 0,04 12.640.850.386,00 0,04 37.720.028.871,00 0,11 Fixed assets
4.874.503.649.521,00 17,81 4.401.799.818.086,00 14,44 4.454.982.147.731,00 12,93 Investment
properties 65.173.748.670,00 0,24 41.270.248.842,00 0,14 153.128.987.010,00 0,44 Long-term
incomplete
assets 28.138.829.026,00 0,10 551.470.893.844,00 1,81 133.548.179.000,00 0,39 Long-term
investments 2.351.285.997.476,00 8,59 2.125.162.874.416,00 6,97 2.214.115.381.757,00 6,42 Other long-term
assets 530.530.707.659,00 1,94 477.646.364.587,00 1,57 611.356.317.724,00 1,77 TOTAL ASSETS
27.374.972.775.358,00 100,00 30.487.024.372.425,00 100,00 34.465.075.615.756,00 100,00 LIABILITIES
Current
liabilities 5.173.043.219.872,00 18,90 7.258.020.535.153,00 23,81 9.213.862.412.096,00 26,73 Long-term
liabilities 986.653.164.558,00 3,60 634.218.134.111,00 2,08 660.367.284.267,00 1,92 TOTAL
LIABILITIES 6.159.696.384.430,00 22,50 7.892.238.669.264,00 25,89 9.874.229.696.363,00 28,65
TOTAL EQUITY
21.215.276.390.928,00 77,50 22.594.785.703.161,00 74,11 24.590.845.919.393,00 71,35 TOTAL LIABILITIES &
EQUITY 27.374.972.775.358,00 100,00 30.487.024.372.425,00 100,00 34.465.075.615.756,00 100,00
</div><span class="text_page_counter">Trang 6</span><div class="page_container" data-page="6">Cash and cash
equivalents 818.705.165.651,00 10,65 762.415.449.399,00 10,76 519.934.563.320,00 7,17
Short-term
investments 2.386.211.000.000,00 31,05 2.404.009.000.000,00 33,92 2.964.442.500.000,00 40,85
Short-term
receivable 384.457.518.077,00 5,00 377.360.736.669,00 5,32 459.144.047.244,00 6,33 <sup>Inventories </sup> 597.223.915.582,00 7,77 553.520.389.155,00 7,81 722.594.487.553,00 9,96
Other current
assets 314.165.843.865,00 4,09 244.722.105.889,00 3,45 202.085.640.488,00 2,78
LONG-TERM
ASSETS 3.183.319.157.800,00 41,43 2.744.985.931.306,00 38,73 2.388.053.949.344,00 32,91
Long-term
receivables 10.000.000,00 0,00 10.000.000,00 0,00 130.000.000,00 0,00 <sup>Fixed assets </sup> 2.556.020.619.257,00 33,26 2.184.962.823.659,00 30,83 1.838.489.757.013,00 25,34
Investment
properties 5.887.518.056,00 0,08 5.062.712.696,00 0,07 4.237.907.336,00 0,06
Long-term incomplete
assets 47.359.180.340,00 0,62 35.635.024.928,00 0,50 15.259.432.815,00 0,21 <sup>Long-term </sup>investments 265.201.627.502,00 3,45 266.012.763.904,00 3,75 316.550.473.711,00 4,36
Other long-term
assets 308.840.212.645,00 4,02 253.302.606.119,00 3,57 213.386.378.469,00 2,94 TOTAL ASSETS
7.684.082.600.975,00 100,00 7.087.013.612.418,00 100,00 7.256.255.187.949,00 100,00 LIABILITIES
<sup>Current </sup>liabilities 1.746.185.904.092,00 22,72 2.181.447.804.081,00 30,78 1.814.341.051.591,00 25,00
Long-term
liabilities 202.358.681.310,00 2,63 147.863.736.630,00 2,09 112.816.571.110,00 1,55
TOTAL
LIABILITIES 1.948.544.585.402,00 25,36 2.329.311.540.711,00 32,87 1.927.157.622.701,00 26,56
<sup>TOTAL EQUITY</sup> 5.735.538.015.573,00 74,64 4.757.702.071.707,00 67,13 5.329.097.565.248,00 73,44 TOTAL LIABILITIES
EQUITY 7.684.082.600.975,00 100,00 7.087.013.612.418,00 100,00 7.256.255.187.949,00 100,00
</div><span class="text_page_counter">Trang 7</span><div class="page_container" data-page="7">FINANCIAL STATEMENT ANALYSIS
<b>COMMON-SIZE INCOME STATEMENT </b>
COMMON-SIZE INCOME STATEMENT FOR SABECO
ITEMS 2020 % 2021 % 2022 %
Sales <sub>28.135.622.624.299,00 </sub> <sub>100,00 </sub> <sub>26.578.007.393.513,00 </sub> <sub>100,00 </sub> <sub>35.235.899.123.781,00 </sub> <sub>100,00 </sub> Sales deductions <sub>-174.298.787.288,00 </sub> <sub>-0,62 </sub> <sub>-204.261.099.655,00 </sub> <sub>-0,77 </sub> <sub>-256.815.129.946,00 </sub> <sub>-0,73 </sub> Net sales <sub>27.961.323.837.011,00 </sub> <sub>99,38 </sub> <sub>26.373.746.293.858,00 </sub> <sub>99,23 </sub> <sub>34.979.083.993.835,00 </sub> <sub>99,27 </sub> Cost of sales <sub>-19.460.229.052.562,00 </sub> <sub>-69,17 </sub> <sub>-18.765.181.482.365,00 </sub> <sub>-70,60 </sub> <sub>-24.208.377.066.751,00 </sub> <sub>-68,70 </sub> Gross Profit <sub>8.501.094.784.449,00 </sub> <sub>30,21 </sub> <sub>7.608.564.811.493,00 </sub> <sub>28,63 </sub> <sub>10.770.706.927.084,00 </sub> <sub>30,57 </sub> Financial income <sub>974.401.634.870,00 </sub> <sub>3,46 </sub> <sub>1.119.597.121.857,00 </sub> <sub>4,21 </sub> <sub>1.090.560.762.647,00 </sub> <sub>3,10 </sub> Financial expenses <sub>-105.449.377.566,00 </sub> <sub>-0,37 </sub> <sub>-22.784.167.607,00 </sub> <sub>-0,09 </sub> <sub>-81.993.117.030,00 </sub> <sub>-0,23 </sub> of which: interest expenses <sub>-63.681.326.473,00 </sub> <sub>-0,23 </sub> <sub>-48.739.800.374,00 </sub> <sub>-0,18 </sub> <sub>-45.517.297.000,00 </sub> <sub>-0,13 </sub>
Gain/(loss) from joint
ventures 267.405.919.991,00 0,95 172.939.963.562,00 0,65 323.119.361.276,00 0,92 Selling expenses <sub>-2.859.036.781.083,00 </sub> <sub>-10,16 </sub> <sub>-3.500.368.629.369,00 </sub> <sub>-13,17 </sub> <sub>-4.532.068.273.139,00 </sub> <sub>-12,86 </sub> General and admin expenses <sub>-702.005.344.515,00 </sub> <sub>-2,50 </sub> <sub>-597.716.255.412,00 </sub> <sub>-2,25 </sub> <sub>-740.665.660.468,00 </sub> <sub>-2,10 </sub> Operating profit/(loss) <sub>6.076.410.836.146,00 </sub> <sub>21,60 </sub> <sub>4.780.232.844.524,00 </sub> <sub>17,99 </sub> <sub>6.829.660.000.370,00 </sub> <sub>19,38 </sub> Other incomes <sub>55.952.250.986,00 </sub> <sub>0,20 </sub> <sub>95.929.356.826,00 </sub> <sub>0,36 </sub> <sub>20.990.166.318,00 </sub> <sub>0,06 </sub> Other expenses <sub>-20.544.761.167,00 </sub> <sub>-0,07 </sub> <sub>-19.267.951.607,00 </sub> <sub>-0,07 </sub> <sub>-37.232.847.726,00 </sub> <sub>-0,11 </sub> <sub>35.407.489.819,00 </sub> <sub>0,13 </sub> <sub>76.661.405.219,00 </sub> <sub>0,29 </sub> <sub>-16.242.681.408,00 </sub> <sub>-0,05 </sub>
Income from investments in
Net accounting profit/(loss)
before tax (EBIT) 6.111.818.325.965,00 21,72 4.856.894.249.743,00 18,27 6.813.417.318.962,00 19,34
Corporate income tax -
current -1.124.942.822.470,00 -4,00 -954.964.248.596,00 -3,59 -1.323.982.218.726,00 -3,76
Corporate income tax -
deferred -50.029.533.241,00 -0,18 27.375.546.091,00 0,10 10.362.877.048,00 0,03
Corporate income tax
expenses -1.174.972.355.711,00 -4,18 -927.588.702.505,00 -3,49 -1.313.619.341.678,00 -3,73 Net profit/(loss) after tax <sub>4.936.845.970.254,00 </sub> <sub>17,55 </sub> <sub>3.929.305.547.238,00 </sub> <sub>14,78 </sub> <sub>5.499.797.977.284,00 </sub> <sub>15,61 </sub> Minority interest <sub>213.349.110.064,00 </sub> <sub>0,76 </sub> <sub>252.053.205.934,00 </sub> <sub>0,95 </sub> <sub>275.946.550.189,00 </sub> <sub>0,78 </sub>
Attributable to parent
company 4.723.496.860.190,00 16,79 3.677.252.341.304,00 13,84 5.223.851.427.095,00 14,83
</div><span class="text_page_counter">Trang 8</span><div class="page_container" data-page="8">Gain/(loss) from joint
ventures -821.338.393,00 -0,01 10.065.104.122,00 0,14 7.490.550.681,00 0,09 <sup>Selling expenses </sup> -1.074.390.462.145,00 -14,30 -985.316.041.564,00 -13,94 -1.290.853.644.690,00 -15,14 <sup>General and admin expenses </sup> -515.589.422.823,00 -6,86 -429.047.962.717,00 -6,07 -547.318.778.556,00 -6,42 Operating profit/(loss) <sub>485.109.488.927,00 </sub> <sub>6,46 </sub> <sub>402.086.143.552,00 </sub> <sub>5,69 </sub> <sub>609.548.940.341,00 </sub> <sub>7,15 </sub> <sup>Other incomes </sup> 299.215.281.908,00 3,98 34.879.120.565,00 0,49 52.382.657.764,00 0,61 <sup>Other expenses </sup> -17.077.447.662,00 -0,23 -9.226.121.990,00 -0,13 -6.573.659.075,00 -0,08 <sub>282.137.834.246,00 </sub> <sub>3,75 </sub> <sub>25.652.998.575,00 </sub> <sub>0,36 </sub> <sub>45.808.998.689,00 </sub> <sub>0,54 </sub>
Income from investments in
Net accounting profit/(loss)
before tax (EBIT) 767.247.323.173,00 10,21 427.739.142.127,00 6,05 655.357.939.030,00 7,69
Corporate income tax -
current -110.304.477.699,00 -1,47 -89.817.903.408,00 -1,27 -129.487.325.555,00 -1,52
Corporate income tax -
deferred 3.645.894.662,00 0,05 -260.003.507,00 0,00 842.772.273,00 0,01 <sup>Corporate income tax </sup>expenses -106.658.583.037,00 -1,42 -90.077.906.915,00 -1,27 -128.644.553.282,00 -1,51 Net profit/(loss) after tax <sub>660.588.740.136,00 </sub> <sub>8,79 </sub> <sub>337.661.235.212,00 </sub> <sub>4,78 </sub> <sub>526.713.385.748,00 </sub> <sub>6,18 </sub> <sup>Minority interest </sup> 4.240.552.322,00 0,06 20.557.662.349,00 0,29 37.720.626.609,00 0,44 <sup>Attributable to parent </sup>company 656.348.187.814,00 8,73 317.103.572.863,00 4,49 488.992.759.139,00 5,74
EPS diluted <sub>2.793,00 </sub> <sub>0,00 </sub> <sub>1.353,00 </sub> <sub>0,00 </sub> <sub>2.009,00 </sub> <sub>0,00 </sub>
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turnover 46,39 54,88 37,39 19,38 18,45 18,28 32,88 36,66 27,84 Day's sales
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