Vietnam's dairy giant Vinamilk reaps $95 mln in Q3 post-tax profit

Vinamilk recorded consolidated post-tax profit of VND2.51 trillion ($95.42 million) in Q3, up 4.5% year-on-year, according to a company release.

For the first nine months, the figure was VND6.59 trillion ($250.28 million), translating to earnings per share (EPS) of VND2,804 ($0.11).

Consolidated revenue reached VND16.97 trillion ($645 million) in the quarter, up 9.1% year-on-year. For nine months, the tally was VND46.68 trillion ($1.77 billion), up 0.7%.

Both domestic and overseas operations recorded sequential growth from the previous quarter.

Revenue growth across domestic and international markets

In the domestic market, Vinamilk’s consolidated net revenue rose 4.4% year-on-year to VND13.49 trillion ($512.82 million) in Q3, accounting for 79.6% of total revenue.

Growth was driven by digital transformation initiatives, e-commerce expansion, an increased retail footprint, the launch of new products, and effective marketing campaigns, the release said.

For the first nine months of 2025, domestic revenue totaled VND37.12 trillion ($1.41 billion), slightly lower than the same period of 2024 due to a weak first quarter. However, the shortfall narrowed considerably thanks to the strong performances in Q2 and Q3.

Meanwhile, its international business continued to contribute over 20% of consolidated revenue in Q3. Overseas net revenue surged 32.6% year-on-year to VND3.46 trillion ($131.53 million), driven by strong performance in key Asian and African markets.

For the nine-month period, overseas consolidated revenue reached VND9.49 trillion ($360.76 million), up 13.7% year-on-year - a notable improvement from the first half of the year. Excluding exchange rate effects, overseas net revenue grew 25.7% in Q3 and 9.5% in the first nine months.

“Vinamilk’s Q3 revenue and profit performance demonstrate that we are on the right track in our brand repositioning and digital transformation journey. The growth in both domestic and international operations provides a strong foundation for us to achieve our business goals approved by shareholders,” said CEO Mai Kieu Lien.

Vinamilk’s gross profit margin in Q3 improved by 60 basis points year-on-year, supported by higher sales volume and stable production costs.

Operational efficiency also improved, with revenue growing nearly 10% while selling expenses rose only 7.1%. For nine months, the gross margin stood at 41.4%, down slightly (50 basis points) from the same period last year due to Q1 impacts.

Digital transformation and retail expansion drive efficiency

Vinamilk has started reaping tangible results from its digital transformation efforts. The company now uses AI to automate its delivery image inspection process, processing hundreds of thousands of images daily in just minutes with high accuracy.

This innovation eliminates manual image checks and, according to Amazon’s benchmarking, could save the company $3 million annually in operating costs while ensuring fast and accurate deliveries.

At the same time, the dairy giant has been expanding and upgrading its retail network. In 2025, it renovated and opened hundreds of new stores, all fully aligned with its new brand identity.

The company plans to continue expanding based on market demand while closely monitoring store performance. In Q3, Vinamilk store and e-commerce sales both maintained double-digit growth year-on-year and accelerated from the first half.

Leveraging its scale and brand reputation, the dairy firm seamlessly integrates online and offline channels, using offline strength to attract consumers online and online engagement to drive offline sales. This hybrid model allows it to engage consumers across multiple touchpoints and keep the brand modern and dynamic.

On the Ho Chi Minh Stock Exchange, VNM shares closed Friday at VND57,600 ($2.19) apiece.