MONDELEZ KINH DO VIET NAM JOINT STOCK COMPANY: Global Brand, Local Market, and What the Numbers Really Say

MONDELEZ KINH DO VIET NAM JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN MONDELEZ KINH ĐÔ VIỆT NAM) stands as one of Vietnam’s most recognizable names in the food and confectionery industry. With ownership by global conglomerate Mondelez International AMEA Pte. Ltd. (99.92%), this foreign-invested joint stock company operates within Vietnam’s fast-moving consumer goods (FMCG) space—producing cookies, cakes, snacks, chocolates, and chewing gum under iconic brands like Kinh Đô, Oreo, Toblerone, and Halls.

Established in 2015 with business ID and tax code 3700599641, the company’s head office is located in the Vietnam-Singapore Industrial Park (VSIP), Binh Duong Province, with operational presence in both southern (Binh Duong) and northern (Hung Yen) regions, and a transaction office in Ho Chi Minh City. The General Director is Mr. Anil Viswanathan, an Indian national, overseeing a workforce of approximately 3,000.

Financial Performance: Growth, Contraction, and Capital Efficiency

Despite operating under a global brand, MONDELEZ KINH DO VIET NAM experienced some financial contraction in 2023. Revenue dropped by 12.32%, falling to USD 179.03 million from the previous year’s USD 204.18 million. This dip followed a strong 43.49% revenue growth in 2022, suggesting possible market correction, cost pressure, or demand normalization after post-COVID consumption surges.

Interestingly, profit increased by 25.87% year-over-year, reaching USD 16.86 million, signaling successful margin management or restructuring efforts. Equity rose to USD 53.7 million, but working capital remains negative at USD -33.31 million—an important red flag from a liquidity and risk perspective. Total assets slightly contracted to USD 132.15 million.

Market Position vs. Operational Risk

While MONDELEZ KINH DO is a household name, negative working capital and revenue volatility point to operational stress that may not be obvious to customers or surface-level observers. High dependency on imported ingredients, seasonal products like mooncakes, and Vietnam’s tightening food labeling and taxation rules could affect its short-term margins and long-term competitiveness.

The FMCG sector in Vietnam is fiercely competitive and price-sensitive, with both local players and other foreign brands constantly battling for shelf space. For business partners, suppliers, and distributors, understanding the financial health of a major player like MONDELEZ KINH DO is not just useful—it’s essential.