After six months, Habeco had already surpassed its sales and profit objectives for the whole year 2022

DNHN - Habeco earned about VND 3,490 billion in net sales and approximately VND 240 billion in profit after tax in the first six months, increasing 5% and 4% from the same time last year. The Corporation's net profit climbed by 8% to over 228 billion dongs.

The Hanoi Beer - Alcohol - Beverage Joint Stock Corporation (BHN/HoSE) has recently released its consolidated financial accounts for the second quarter of 2022, with both sales and profit increasing over the same time.

Sabeco's net sales climbed by 10% year on year to over 2,134 billion dongs in the second quarter. The cost of products climbed by 6% to almost 1,516 billion dongs; as a consequence, gross profit increased by 21% to VND 618 billion during the same time. Consequently, the gross profit margin increased from 26.4 per cent to 29 per cent.

Over the same year, Habeco's financial income fell 13% to roughly 29 billion dongs. In exchange, finance and interest expenditures fell by 36% and 5%, respectively, during the same period.

During this period, selling and administrative expenditures climbed at the same time, to roughly 280 billion VND (up 12 per cent) and 135 billion VND, respectively (up 56 per cent).

After deducting expenditures and taxes, Habeco's final net profit grew by roughly VND 36 billion (a 24 per cent rise) over the same time to VND 182.5 billion. According to the Company's explanation, by the second quarter of 2022, the entire country had effectively controlled the situation of the COVID-19 epidemic, and the Company had proactively seized opportunities, implemented sales policies, and promoted the consumption of products during the peak summer period. Furthermore, earnings in joint ventures and associates were roughly seven times larger than in the previous quarter, resulting in a rise in Habeco's final net profit.

Habeco earned about VND 3,490 billion in net sales and approximately VND 240 billion in profit after tax in the first six months, increasing 5% and 4% from the same time last year. The Corporation's net profit climbed by 8% to over 228 billion dongs.

Habeco expects to earn VND 6,605 billion in sales and VND 221 billion in profit after tax in 2022, a 13 per cent and 32 per cent decrease from 2021. Thus, the Company met 57.5 per cent of its revenue objective and surpassed 109 per cent of its profit after tax target for the whole year.

By the end of June 2022, Habeco's asset size had reached almost VND 6,887 billion, a 3 per cent decrease from the start of the year. Short-term financial investments totalled more than VND 2,018 billion (a decrease of 17 per cent), with all assets held to maturity.

Stockpiles climbed by 7% to more than 591 billion dongs. Raw materials accounted for 36% of total inventory value, totalling roughly 220 billion VND. At the same time, the Company has more than 12 billion dongs in reserves.

PV