CALOFIC CORPORATION (CÔNG TY TNHH CALOFIC): Stable Operations, Mixed Signals in Vietnam’s Edible Oil Market

CALOFIC CORPORATION (CÔNG TY TNHH CALOFIC), a foreign-invested company based in Ha Long City, Quang Ninh Province, has remained a consistent player in Vietnam’s edible oil and consumer goods sector. Operating under Business ID 5700101362, the company is best known for manufacturing popular household brands such as NEPTUNE, MEIZAN, SIMPLY, and POWER100. Despite maintaining stable profitability, the company’s recent financial results show both strengths and areas that warrant closer attention.

Revenue shows signs of contraction

CALOFIC CORPORATION recorded USD 425.69 million in sales in 2023, a 5.78% decline compared to the previous year. This marks the first drop in revenue after several years of consistent growth, including a nearly 20% increase in 2022. The drop could be attributed to market saturation, price competition, or weakened consumer demand, although no explanatory note was included in the report.

Despite this decline in sales, net profit rose by 22.83%, reaching USD 16.42 million in 2023. This improvement suggests that the company likely improved cost control, optimized operations, or benefited from more favorable input pricing. Nonetheless, rising profits in the face of shrinking sales raise questions about the sustainability of such margins moving forward.

Asset base contracts, but working capital remains healthy

In 2023, total assets fell by 5.9% to USD 206.32 million, while owner’s equity declined slightly by 0.27%. Though the drop is not drastic, it signals a slowdown in capital expansion or potentially tighter reinvestment activity. Despite this, working capital was reported at USD 149.71 million, a high level relative to the company’s size and indicative of strong short-term liquidity.

Such a capital position suggests that CALOFIC CORPORATION is not under immediate financial stress, but whether the company is actively investing for future growth is unclear. With nearly USD 173.7 million in equity, CALOFIC appears well-capitalized, even though growth momentum is slowing.

Diverse portfolio, local leadership

The company employs approximately 960 workers across its facilities in Ha Long, Hanoi, and Ho Chi Minh City. It produces a wide variety of cooking oils, household cleaning products, and food-related items. In addition to food manufacturing, the company is licensed to engage in wholesale trade, advertising, plastics production, and environmental services, reflecting a broad commercial scope.

CALOFIC CORPORATION is led by General Director Mr. Vu Van Phu, with Ms. Dao Thu Huong serving as Chief Accountant. Both are Vietnamese nationals, which provides the company a local face despite its 100% ownership by SITEKI INVESTMENTS PTE LTD, a Singapore-based entity affiliated with Wilmar International.

Verification recommended for supply chain stakeholders

Given its long operating history and national brand recognition, CALOFIC CORPORATION remains a well-established manufacturer in Vietnam. However, for investors, distributors, or suppliers evaluating the company’s financial outlook or risk exposure, independent due diligence remains essential. It is highly recommended to consult the Business Verification and Risk Management Service by Vanguard Business Information (VBI) to assess creditworthiness, financial trends, and legal standing.

Conclusion reflects a mixed picture

CALOFIC CORPORATION’s recent performance presents a mixed picture. Profitability is rising, but revenue and asset values are slipping. While the company’s liquidity and equity remain strong, the current figures suggest it may be transitioning from a growth phase to a more cautious operational mode. Stakeholders should monitor future developments closely to understand whether this is a temporary fluctuation or the beginning of a longer-term shift.