Vinamilk's 2023 Annual General Meeting of Shareholders on Apri 25 (Photo: vietnamfinance.vn) Target profit before tax and profit after tax are forecast at 10.5 trillion VNDand 8.62 trillion VND, respectively, almost unchanged compared to 2022.
Regarding the dividend plan, Vinamilk plans to pay dividends in 2023 with theminimum rate of 50% in cash, equivalent to an amount of 10.4 trillion VND.
This information was given at the company's 2023 Annual General Meeting ofShareholders, which was held on April 25.
In particular, 2023 also marks the successful 20-year equitisation milestone ofthis enterprise. This year, revenue is expected to increase 15 times, profit up13 times compared to the time of official equitisation in 2003.
With a total contribution to the State budget since 2003 of nearly 55.3trillion VND, Vinamilk has always been in the group of enterprises paying thehighest cash dividends to shareholders, with accumulated dividend paymentamount so far of 76.23 trillion VND.
Vinamilk has raised the brand value to 2.8 billion USD last year, an increase of18% over 2021, becoming the 6th largest dairy brand in the world (according toBrand Finance) and maintained its position in the Top 40 largest dairyenterprises globally in terms of revenue (according to Plimsoll).
In 2022, the total consolidated revenue reached 60.08 trillion VND; profit aftertax reached 8.6 trillion VND. In which, net revenue from domestic, export andforeign branches reached 50.7 trillion VND, 4.8 trillion VND and 4.4 trillionVND, respectively. The company maintains a high level of cash dividend for shareholdersin 2022, with total amount 8.05 trillion VND, accounting for 94% ofconsolidated profit after tax.
Vinamilk is cooperating with a partner in the Philippines and will exportproducts to this country. When the market is large enough, VNM plans to buildfactories and cow farms in the Philippines.
In the discussion, VNM's leadership shared about the situation of the projectsof this enterprise.
Regarding the dairy plant project in Hung Yen, Mai Kieu Lien, General Directorof VNM, said that the land procedure was very complicated. After completing theprocedures, VNM will start construction and put the factory into operation in2025.
Regarding cow farms in Laos, VNM said that the farm had been put into operationand had about 1,000 cows. It is expected that in 2023, the enterprise will add7,000 cows, bringing the total number to 8,000 and able to achieve 100 tonnesof fresh milk per day if running at full capacity, similar to Green Farm in TayNinh.
For the beef project in Tam Dao district in Vinh Phuc province, VNM cooperateswith a Japanese partner, Sojitz Corporation. In the past 2 years, the businesshas experimented with diets and breeding methods. After the first 20 trialbatches, the results were positive. Accordingly, the quality of meat waswelcomed by consumers, guaranteed according to Japanese standards and theproject had a good profit margin.
Lien said that although it was not a big project, this livestock complex tookadvantage of the available strength of VNM./.
VNA
