Danish brewer maintains Vietnam sales volume despite beer-market dip
The beer market in Vietnam remained difficult with an estimated “mid-single-digit” percentage decline in the first quarter of this year, but Danish brewer Carlsberg managed to maintain flat sales volume.
In its Q1/2024 performance review, Carlsberg notes that it managed to maintain flat volume in the face of “very strong competition” with strong growth of premium brands.
Carlsberg CFO Ulrica Fearn said that the brewer continued to expand its distribution network in Vietnam in Q1/2024 as part of its market expansion strategy.

Carlsberg products. Photo courtesy of Carlsberg Vietnam.
CEO Jacob Aarup-Andersen said Carlsberg’s total premium beer portfolio grew by 8% globally, mainly driven by key Asian markets like Vietnam and China, apart from Ukraine, Serbia and Poland.
The total volume of “Carlsberg,” a premium brand, grew by 15%, thanks to very strong growth in markets like China, India, Ukraine and Vietnam, he said.
Similarly, “Tuborg,” another premium product, grew by 8%, supported by growth in China, Vietnam, India, Italy and Croatia.
Its “1664 Blanc” brand achieved good growth in both western, central and eastern Europe as also in Asia, including China and Vietnam, Aarup-Andersen said.
Reviewing its performance in Asia, Carlsberg said organic revenue growth was 7.6% year-on-year and revenue per hectoliter went up 4%, while organic volume growth was 3.1%.
However, “the organic revenue growth was offset by a currency impact of negative 8.5%.”
Globally, Carlsberg’s revenue went up 4.4% year-on-year to DKK17.1 billion in Q1/2024, “impacted by currency effect of minus 2.6%,” according to Aarup-Andersen.
In related news, the Q1/2024 performance review by Dutch brand Heineken said "the beer market in Vietnam declined by a mid-single-digit in the first quarter of this year," but Heineken’s net revenue (before “exceptional” items and “amortization-beia” formula) was up in the mid-teens.
The Vietnamese beer market continued to be impacted by a “soft consumer environment” and “stricter enforcement of zero tolerance whilst driving regulations,” the Heineken report said.
Among domestic brands, Habeco suffered a net loss of VND21 billion ($828,570) in Q1/2024. This was its the first quarterly loss following three consecutive quarters of positive results, and the biggest quarterly loss since Q1/2020.
Sabeco, now owned by Thai beverage giant ThaiBev, reported post-tax profits of VND1,023.7 billion ($40.3 million) in the quarter, up 2% year-on-year, on revenues of VND7,183.5 billion, up 15.6%. The profit met 22.4% of its 2024 target.
- Read More
VSIP starts work on industrial park project in northern Vietnam province Thai Binh
Construction of the Vietnam-Singapore Industrial Park (VSIP) Thai Binh commenced on Wednesday in northern Vietnam, with the witness of Vietnamese Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong.
Industrial real estate - Wed, March 26, 2025 | 10:41 pm GMT+7
Vingroup starts building mega urban project in Vietnam's Mekong Delta
Vietnam’s leading private conglomerate Vingroup on Wednesday embarked on construction of the VND28 trillion ($1.1 billion) Vinhomes Green City, the first mixed-use urban development in its ecosystem in the Mekong Delta province of Long An.
Real Estate - Wed, March 26, 2025 | 10:11 pm GMT+7
Indonesia, China cooperate in digital technology
Indonesia and China are expanding cooperation in the field of AI to promote digital transformation, especially in the fields of agriculture and smart cities.
Southeast Asia - Wed, March 26, 2025 | 10:01 pm GMT+7
Indonesia decides to join BRICS New Development Bank
Indonesian President Prabowo Subianto has announced the Government's decision to become a member of the New Development Bank (NDB), a multilateral development bank established by the five founding member states of the BRICS group.
Southeast Asia - Wed, March 26, 2025 | 9:57 pm GMT+7
Major Vietnamese broker SHS to double charter capital
Saigon-Hanoi Securities Corporation (SHS) plans to issue 894 million shares to increase its charter capital from VND8.13 trillion to VND17.07 trillion ($667.6 million), making it one of the top three securities firms in term of charter capital.
Companies - Wed, March 26, 2025 | 8:30 pm GMT+7
Elon Musk company okayed to pilot Starlink satellite internet service in Vietnam
Vietnam has allowed the U.S.'s SpaceX to pilot Starlink low-orbit satellite internet service in the country on a pilot basis until January 1, 2031.
Industries - Wed, March 26, 2025 | 5:18 pm GMT+7
Danish toymaker Lego to open $1.3 bln Vietnam plant next month
Denmark's Lego will officially open its factory in VSIP III Industrial Park in Vietnam's southern province of Binh Duong on April 9.
Industries - Wed, March 26, 2025 | 4:18 pm GMT+7
Top Singaporean firms earn high incomes in Vietnam
Singapore is the second-biggest foreign investor in Vietnam, with over $84 billion in registered investment capital as of end-January and many prominent investors raking in high incomes.
Companies - Wed, March 26, 2025 | 3:45 pm GMT+7
Vietnam, Singapore ink significant deals in Hanoi
Vietnamese Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong on Wednesday witnessed the signing of many cooperation deals between agencies and enterprises of the two countries.
Economy - Wed, March 26, 2025 | 2:51 pm GMT+7
Vietnam's major policies are reshaping economic development
Major policies are reshaping Vietnam's approach to economic development, which focuses on science, technology, and private enterprises, said a leader at the Vietnam Chamber of Commerce and Industry (VCCI).
Economy - Wed, March 26, 2025 | 12:11 pm GMT+7
PM okays over $10 bln urban area project in central Vietnam
The over VND260.3 trillion ($10.16 billion) Cam Lam New Urban Area project in the south-central province of Khanh Hoa has received in-principle approval from Prime Minister Pham Minh Chinh.
Real Estate - Wed, March 26, 2025 | 8:58 am GMT+7
S Korea's KIM Fund raises stake in Vietnam's marine transportation firm VIPCO
South Korea’s KIM Fund has increased its stake in Hai Phong city-based Vietnam Petroleum Transport JSC (VIPCO, HoSE: VIP) to 2.73%, making it the latter’s second-largest shareholder.
Companies - Wed, March 26, 2025 | 8:30 am GMT+7
Vietnam, Singapore seek cooperation chances in semiconductor industry
The Vietnam Trade Office in Singapore, in collaboration with the Singapore Semiconductor Industry Association (SSIA), organized a hybrid seminar on Monday to introduce Vietnam's potential, advantages, and development strategies for the semiconductor industry.
Southeast Asia - Tue, March 25, 2025 | 10:55 pm GMT+7
OV intellectuals in UK suggest blueprint for Vietnam’s int’l financial hub ambition
Vietnam can rise as a major international financial centre, both regionally and globally, with a strategic vision that highlights transparency, a skilled workforce, modern infrastructure, robust financial markets, and strong international branding, the Vietnam Intellectual Society in the UK and Ireland (VIS) told visiting Vietnamese Permanent Deputy Prime Minister Nguyen Hoa Binh in a recent meeting.
Southeast Asia - Tue, March 25, 2025 | 10:55 pm GMT+7
Vietnam Deputy PM discusses financial center development with ECB
Vietnam's Standing Deputy Prime Minister Nguyen Hoa Binh on Monday met with representatives of the European Central Bank (ECB) to discuss plans for the establishment of financial centers in Vietnam, as part of his working visit to Germany – the final stop in his European tour.
Southeast Asia - Tue, March 25, 2025 | 10:52 pm GMT+7
Indonesia keeps commitment on energy transition
Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto on Monday affirmed that the U.S. decision to pull out of the Just Energy Transition Partnership (JETP) will not impact the other partners' commitment to it.
Southeast Asia - Tue, March 25, 2025 | 10:35 pm GMT+7