AsemconnectVietnam - The operating cash flow of Saigon Beer - Alcohol - Beverage Joint Stock Corporation (Sabeco, code SAB - HOSE) continued to generate VND2,183.5 billion in the first half of 2025, raising the amount of cash to VND22,185.4 billion, accounting for 66.8% of total assets.

At the end of the second quarter of 2025, Sabeco recorded revenue of VND6,804.33 billion, accumulated in the first half of 2025 reaching VND12,615.1 billion and completing nearly 40% of the net revenue plan of VND31,641 billion; and after-tax profit reached VND1,250.7 billion, accumulated in the first 6 months of the year reached VND2,050.3 billion, completing 42.4% of the profit plan of VND4,835 billion in 2025.
In particular, the bright spot in the second quarter came from the gross profit margin continuing to improve from 30.2% to 36%, thus helping gross profit increase by VND7.7 billion, to VND2,448.1 billion; profit from joint ventures and associates continued to increase by 20.9%, equivalent to an increase of VND5.83 billion, to VND33.71 billion; financial revenue continued to contribute an additional VND255.24 billion.
With an additional profit of VND2,050.3 billion in the first half of 2025, Sabeco continued to generate additional cash flow from core business activities of VND2,183.5 billion compared to the same period of VND2,117.9 billion. In addition, also in the period, investment cash flow was positive VND2,816 billion and financial cash flow was negative VND2,974.1 billion, mainly reducing debt and paying cash dividends to shareholders. As of June 30, 2025, Sabeco's total cash and financial investments continued to increase by 5.4% compared to the beginning of the year, equivalent to an increase of VND1,141.7 billion, to VND22,185.4 billion, accounting for 66.8% of total assets. In addition, also at the end of the second quarter, Sabeco's receivables decreased by 41.4% compared to the beginning of the year, equivalent to a decrease of VND752 billion, to VND1,066.5 billion; inventories decreased by 15.9% compared to the beginning of the year, equivalent to a decrease of VND314.2 billion, to VND1,664.3 billion; Long-term financial investment decreased by 38.3% compared to the beginning of the year, equivalent to a decrease of VND1,406.9 billion, to VND2,265.7 billion ...
It is worth noting that at the beginning of the year, Sabeco owned 21.8% of the capital at Saigon - Binh Tay Beer Group Joint Stock Company (Sabibeco, code SBB - UPCoM floor), equivalent to an investment of VND345.17 billion and accounted for as an investment in an associated company. However, at June 30, 2026, Sabeco increased its ownership to 59.63% of the capital at Saigon - Binh Tay Beer Group and officially accounted for it as a subsidiary.
Previously, on February 20, 2025, at the extraordinary general meeting of shareholders of Sabibeco, the Company's shareholders dismissed three members of the Board of Directors, including Chairman Van Thanh Liem, Mr. Dinh Van Thuan and Mr. Pham Tan Loi. On the contrary, 3 replacement candidates were elected, including Mr. Tan Teck Chuan Lester (General Director of Sabeco), Mr. Lam Du An (Deputy General Director of Sabeco) and Ms. Pham Thi Thanh Thuy, to the Board of Directors.
The merger of Sabibeco is expected to help Sabeco increase production and improve business efficiency. In particular, Sabibeco is known for the Sagota beer brand, including many draft beer products, canned beer, fresh beer, bottled beer; processed beer products Saigon Special, Saigon Larger, Saigon 333 Export, Saigon Export; barley drinks with lemon flavor and Malty raspberry flavor.
According to FPTS Securities Company, after completing the Sabibeco M&A deal, Sabeco's total capacity will increase to 3.01 billion liters of beer/year in 2024, an increase of 25.4% compared to the current capacity and become the largest beer enterprise in Vietnam.
Regarding stock performance, along with the market's upward trend, from April 8 to July 28, SAB shares increased by more than 23%, from VND40,070 to VND49,300/share and continued the upward trend.
N.Nga
Source: VITIC/Tinnhanhchungkhoan