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Habeco eyes $365mn in 2018 revenue as share deal approaches

Released at: 08:41, 12/01/2018

Habeco eyes $365mn in 2018 revenue as share deal approaches

Photo from baomoi cham com

Brewer announces 2018 targets as stake sale to Carlsberg edges closer.

by Quang Huy

The Hanoi Beer Alcohol and Beverage JSC (Habeco) has set a target of earning VN8.3 trillion ($365 million) in revenue in 2018, up 6.7 per cent year-on-year.

It is also looking at VND955.4 billion ($42 million) in pre-tax profit this year, 0.3 per cent higher than last year, its CEO Mr. Ngo Que Lam told a conference on January 10 reviewing its performance last year and outlining tasks for this year.

Vietnam’s third-largest brewer will also contribute an estimated VND5.37 trillion ($235.74 million) to the State budget this year.

The company plans to draw up appropriate measures to balance production and consumption and avoid inventories as well as improve the quality of its products and develop new products.

The company posted approximately VND7.8 trillion ($342.4 million) in revenue last year and paid more than VND4.8 billion ($210.7 million) into the State coffers. It has 17 subsidiaries and six affiliated companies, with total production capacity of more than 800 million liters of beer each year.

It will begin trading on the Ho Chi Minh Stock Exchange (HoSE) on January 19, a move it hopes will improve its reputation and draw more investment.

According to a report from foreign newswire Reuters last month, Danish brewer Carlsberg has edged closer to reaching an agreement with the Vietnamese Government to increase its stake in the brewer.

Carlsberg, which already owns 17.3 per cent of Habeco, second only to the State’s holding of 82 per cent, has priority purchase rights for a 60 per cent stake and is keen to publicly bid for the remainder of the available shares, according to an earlier proposal from the Danish brewer.

“Carlsberg, the Vietnamese Government, and Habeco have reached a common understanding on a number of issues during the negotiations, and we expect this will accelerate the process,” a Carlsberg spokesman said.

The Vietnamese Government said last November that it expects a stake sale in Habeco will be completed in the first quarter of 2018.

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