Strategies yet to help brewer revenues

Vietnam's leading brewers reinforced earnings resilience in 2025, as they balanced shifting demand with margin expansion and strong cash positions.

- By Nguyen Thu

Seasonal factors have affected the revenues of major brewers

(Photo: Duc Thanh)

Saigon Beer-Alcohol-Beverage Corporation (SABECO) has reported consolidated revenue of $1.04 billion for last year, down by roughly $240 million, reflecting softer consumption and seasonal factors affecting fourth-quarter sales. Beer remained the core business, accounting for about 93 per cent of total revenue.

Management noted intensified competition ahead of the Lunar New Year, a later holiday season, and adverse weather conditions in several localities as factors weighing on consumption. The consolidation of Binh Tay Beer Group following its acquisition earlier in the year also created a transitional impact on reported performance.

Nevertheless, operational efficiency improved significantly. Gross margin rose to approximately 36 from 29 per cent in 2024, sup-