Vinamilk Jumps Six Notches among Global Top 50 Leading Dairy Companies
PR89521
HO CHI MINH CITY, Vietnam, May 14, 2021 /PRNewswire=KYODO JBN/ --
The Vietnam Dairy Products Joint Stock Company (Vinamilk) recorded an
impressive performance in 2020 despite the challenges brought along by the
COVID-19 pandemic. With revenue of $2.6 billion in 2020, an increase of 5.9%
year-on-year, Vinamilk has jumped 6 notches among the Top 50 leading dairy
companies in the world.
According to the 2021 ranking by UK-based Plimsoll Publishing Ltd, Vinamilk
currently ranks 36th among the world's Top 50 dairy producers by total sales.
Since 2017, the Vietnamese brand has become the only dairy producer in Vietnam
and Southeast Asia to enter the Top 50, along with dairy companies from the
U.S., New Zealand, and Europe.
Part of Vinamilk's solid earnings is attributed to the company's 2020 export
revenue which hit USD 2.1 billion, through product distribution in 56 countries
and territories. Despite the current global economy uncertainty, Vinamilk's
export growth is expected to continue as it has already recorded a 7.9%
year-on-year growth rate in the first quarter of 2021.
These achievements continue to cement Vinamilk's leading position within
Vietnam. For the eighth consecutive year, the milk brand has been 'The Most
Chosen Brand' in dairy and dairy substitute category for both urban and rural
areas in Vietnam, according to Kantar Worldpanel's Asia Brand Footprint 2020.
"Besides maintaining stability in production and business, Vinamilk will
continue to promote cohesion and value sharing with stakeholders. Sustainable
development will be oriented towards advanced models of the world dairy
industry, in which action plans and initiatives will be rolled out for all
parts of the company's value chain, from research and development, farm
management, to manufacturing and distribution while improving its subsidiaries
corporate governance and operational efficiency." says Ms. Mai Kieu Lien,
Vinamilk's CEO.
Aligned with its direction, Vinamilk is currently investing in "Green farm", an
eco-friendly farming system as one of its sustainable initiatives. The system
includes Vinamilk farms in Quang Ngai, Thanh Hoa, and Tay Ninh provinces.
Currently, the company owns 13 dairy farms in Vietnam and an organic dairy farm
complex in Laos, managing over 150,000 herds of cattle.
Other sustainable initiatives of Vinamilk include applying circular economy to
optimize the use of natural resources, completing solar power rollout at
Vinamilk's farms across the country, minimizing plastic footprint in the
production process, and implementing organic agriculture practices, in line
with the company's sustainable development strategy.
Vinamilk has also set a revenue target of VND 62,160 billion (USD 2.7 billion)
for FY2021 after obtaining VND 13,190 billion (USD 570 million) and VND 2,597
billion (USD 113 million) in revenue and profit in 1Q2021. Going forward,
Vinamilk will continue to introduce new quality products and maintain product
premiumization process selectively.
In 2020, Vinamilk's corporate governance practices which adopted international
standards have resulted in the brand becoming the only Vietnamese company voted
as "Southeast Asia Asset Class" according to the ASEAN corporate governance
scorecard results.
SOURCE Vinamilk
Image Attachments Links:
Link: http://asianetnews.net/view-attachment?attach-id=391272
Caption: Vinamilk Green farm fresh milk is one of Vinamilk’s newly launched products
earlier this year
Link: http://asianetnews.net/view-attachment?attach-id=391274
Caption: Vinamilk's overview and key financial highlights (2017 – 2020)
Link: http://asianetnews.net/view-attachment?attach-id=391275
Caption: Solar power will be deployed on Vinamilk eco-friendly farming system
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