The Top 50 Best Listed Companies in 2024, as announced by Forbes Vietnam, is a list that recognizes the best businesses in the country, deemed the “economic leaders and top representatives of their respective industries.”
Vinamilk, a prominent player in the dairy industry, has consistently secured a spot in the top 5 and is the only FMCG company on the list. The remaining companies span various sectors, including industry, oil and gas, steel, and finance.
Over the years, this list has undergone significant changes, reflecting the dynamic nature of Vietnam’s economy and market, influenced by both objective and subjective factors. This year’s list, in particular, saw 18 new entrants, with notable absences from consumer and retail giants, given the subdued market purchasing power.
The Top 50 Listed Companies in 2024 ranking by Forbes Vietnam showcases the best businesses in the country. (Source: Forbes Vietnam)
Vinamilk stands out as a unique case in this highly anticipated annual list by Forbes Vietnam. Not only is it the sole dairy company in the top 10, but it’s also the only consumer goods company that has consistently made the cut for all 12 years of the ranking’s existence. During this period, Vinamilk’s total revenue doubled, surging from VND 27,102 billion in 2012 to VND 60,479 billion in 2023.
Vinamilk boasts a robust distribution network of over 200,000 sales points nationwide, effectively reaching a diverse range of consumers, including the younger demographic.
Attracting Investments Through Quality and Sustainability
Since its initial public offering in 2006, Vinamilk (VNM) has remained one of the largest stocks in the VN30 basket and has consistently been included in the VNSI’s top 20 “green” stocks, recognized for its sustainability performance based on E-S-G criteria.
According to the 2023 annual report, Vinamilk is the F&B company with the largest market capitalization on the HOSE, valued at nearly USD 6 billion, and a revenue of over USD 2.4 billion, ranking among the top 40 dairy companies globally. This leading listed dairy company in Vietnam has garnered attention from prominent investment funds based in Singapore, the US, and other countries due to its transparency, sustainability, and strong governance.
Notable foreign shareholders include F&N Dairy Investment and Platinum Victory from Singapore, Fubon FTSE Vietnam ETF from Taiwan, and Vanguard International Value Fund from the US.
Vinamilk’s 14 modern manufacturing facilities in Vietnam and 2 overseas plants ensure efficient production and consistent product quality.
In the first half of 2024, Vinamilk achieved impressive revenue growth, particularly in the export sector, with a 37% increase in Q2 compared to the same period last year. This upward trend has been consistent since 2023. Vinamilk’s products are now exported to over 60 countries and territories, including demanding markets such as the US, Australia, New Zealand, Japan, and South Korea.
With over 25 years of export experience, Vinamilk has successfully introduced Vietnamese dairy products to more than 60 countries worldwide.
In the domestic market, Vinamilk’s unwavering commitment to product quality has solidified its leading position. For 12 consecutive years, it has been the most purchased dairy brand in Vietnam and is among the top 3 FMCG manufacturers chosen by Vietnamese consumers.
These outstanding results can be attributed to continuous product innovation, market expansion, and cost and operational efficiency optimizations. Notably, the company’s comprehensive strategic overhaul in mid-2023 has been a significant driver of its current growth trajectory.
Beyond financial performance, Vinamilk has also earned investors’ favor through its strong brand value, product quality, and commitment to sustainable development. With a brand value of USD 3 billion and a global ranking among the top 10 dairy companies, Vinamilk remains a source of national pride for Vietnam.
The company’s resilience in its sustainable development strategy is evident through its pioneering role in ESG initiatives in Vietnam, notably its programs aimed at achieving Net Zero by 2050. This focus on sustainability is particularly appealing to investors, given the growing trend of ESG investing. With its solid foundations and current growth momentum, Vinamilk is poised to be a leading representative of Vietnamese businesses in the global arena.
“A Customer’s Long-Standing Loyalty to Vinamilk: A Modern, Self-Contained Super Factory Leaves a Lasting Impression.”
The tour of Vinamilk’s mega dairy plant left a profound impression on the members of Ho Chi Minh City’s senior citizens’ health club.
“Vinamilk’s Overseas Triumph: A Stellar 15.7% Growth in the First Three Quarters, Contributing nearly VND 8,350 Billion.”
For the fifth consecutive quarter, Vinamilk’s overseas market revenue has maintained its stellar performance, with a notable 15.7% year-on-year growth in the first nine months of this year, totaling VND 8,349 billion. This consistent upward trajectory underscores the company’s strong position in the international arena, with its exports shining as a key driver of this success.
Helping People Recover and Rebuild After Devastating Storms and Floods
The storm has passed, but it has left a trail of devastation in its wake. In its aftermath, a fervent effort to ameliorate the consequences and aid affected individuals in regaining stability in their lives is underway, with various resources being marshaled in many localities.
Net Zero Pioneer, Vinamilk Honored at Asia Responsible Enterprise Awards
Vinamilk is Asia’s sole dairy company to be recognized in the Green Leadership category at the prestigious Asia Responsible Enterprise Awards. Specifically, the award celebrates the Vinamilk Pathways to Dairy Net Zero 2050 initiative, a testament to the company’s commitment to environmental sustainability and leadership in the industry.
An Exciting International Children’s Day: Kicking Off a Summer of Fun and Engaging Activities for Kids
This past International Children’s Day on June 1st, Vinamilk kicked off a series of exciting summer activities for children. The company organized and sponsored a range of events to celebrate and show their commitment to making a positive impact on the lives of young people. It marked the beginning of a season filled with engaging and fun initiatives for kids, with Vinamilk playing a pivotal role in making it all happen.
