Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Thursday, August 13 2020 - 13:12
AsiaNet
Purposeful strategic direction supports Vinamilk to overcome global pandemic
HO CHI MINH CITY, Vietnam, Aug. 13, 2020 /PRNewswire-AsiaNet/ --

Vinamilk, Vietnam's leading dairy producer, has been one of the few businesses 
that managed to strive amid the global COVID-19 pandemic. Apart from solely 
boosting local operations, Vinamilk has continued to expand business overseas 
and is now reaping the rewards of a decision made during testing times. In 
announcing its earnings report for the second quarter of 2020, Vinamilk 
reported US $670.98 million (VND 15,495 billion) in net revenue, up nearly 10% 
against the last quarter. 

Photo - https://photos.prnasia.com/prnh/20200812/2883530-1-a 
Vinamilk's performance in Q2 & H1

During this period, export activities still recorded positive results despite 
the COVID-19 pandemic as the firm actively sought fresh opportunities, 
reflected by its exports to the Middle East under a $20 million contract, 
exports of condensed milk to China; and exports of soy-based nut drink and milk 
tea to South Korea in Q2.

These efforts contributed US $59.5 million (VND1,370 billion) to the total 
export net revenue, an increase of 26.8 percent against Q1 and an increase of 
7.1 percent year-on-year, accounting for 9 percent of the consolidated net 
revenue.

In June, Vinamilk became the first dairy firm in Vietnam to be licensed to 
export milk into the territory of the Eurasian Economic Union (EAEU).

Strategic business direction pays off

Photo - https://photos.prnasia.com/prnh/20200812/2883530-1-b
Scale of Vinamilk

Ms. Mai Kieu Lien, CEO of Vinamilk attributed part of the company's recent 
success in international markets to its proactiveness. This includes investing 
in modern production infrastructure, being proactive in raw material 
procurement and maintaining a strong domestic ground for overseas expanding.

Vinamilk's representative shared "Export a product to overseas market is a 
difficult task but to compete and survive on that market is even more 
challenging". With Vinamilk, the key competitive advantage is the quality of 
its nutritional products. 

Photo - https://photos.prnasia.com/prnh/20200812/2883530-1-c
Vinamilk’s products have been well received by customers in China.

Thanks to the company's effort in product development, quality control and 
proactive consumer-orient approach, Vinamilk has become 'The Most Chosen Brand' 
in the Dairy and Dairy Substitutes category¹ in Vietnam. 

Being one of top 50 largest dairy companies in the world, Vinamilk brand value 
is estimated to worth US $2.4 billion by Forbes Vietnam, an increase of US $200 
million versus 2019. In Q2 of 2020, this respectable magazine has included 
Vinamilk in its annual 50 best listed companies for the eighth consecutive year.

In addition to these achievements, Vinamilk's effective business strategy 
helped provide job security to more than 10,000 employees while enabling a 
US$1.7million contribution towards Vietnam's fight against COVID-19.

[1]Kantar Brand Footprint from 2013 to 2020, Urban 4 key cities and rural 
Vietnam
 

Investor relation contact:

Mr. Dong Quang Trung
T: + 84-28-54-155-555 (ext. 108247)
E: dqtrung@vinamilk.com.vn

Media Contact:

Ms. Le Thanh Lan Anh
T: + 84-28-54-155-555 (ext. 108219)
E: ltlanh@vinamilk.com.vn  

SOURCE:  Vinamilk

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=369160

   Caption: Vinamilk’s performance in Q2 & H1

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   Caption: Scale of Vinamilk

   Link: http://asianetnews.net/view-attachment?attach-id=369164

   Caption: Vinamilk’s products have been well received by customers in China.

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