Sabeco posts strongest quarterly profit in over 3 years despite weaker sales

Ho Chi Minh City-based Sabeco (HoSE: SAB), majority owned by Thai Beverage, reported its highest quarterly profit since early 2022, supported by lower input costs and tighter expense control despite weaker sales.

According to its Q3 consolidate financial report, Sabeco earned nearly VND6.44 trillion ($244.5 million) in net revenue, down 16.1% year-on-year.

Net profit jumped 21.6% year-on-year to VND1.36 trillion ($51.65 million), the highest since early 2022.

Gross profit rose 5% from a year earlier to VND2.39 trillion ($90.61 million) as cost of goods sold dropped 24.9% to VND4.05 trillion ($153.8 million), lifting the gross margin to 37.1% from 29.7%.

Sabeco attributed the improvement to cheaper malt and rice prices, along with better raw material utilization.

In the first nine months of 2025, revenue fell 17% to VND19.05 trillion ($723.6 million), while net profit was nearly flat at VND3.36 trillion ($127.6 million), meeting 71% of the year's target.

In late July, Sabeco distributed VND3.85 trillion ($146.2 million) in its second dividend payout for 2024, bringing the full-year cash dividend to 50%, equivalent to VND6.41 trillion ($243.6 million).

As of September 30, total assets stood at VND31.34 trillion ($1.19 billion). Cash, cash equivalents, and bank deposits accounted for 64% of total assets, totaling VND20.03 trillion ($760.6 million).

SAB shares closed Tuesday at VND45,500 ($1.73) each on Wednesday.