SAIGON BINH TAY BEER GROUP JOINT STOCK COMPANY

SAIGON BINH TAY BEER GROUP JOINT STOCK COMPANY (Vietnamese name: CÔNG TY CỔ PHẦN TẬP ĐOÀN BIA SÀI GÒN BÌNH TÂY), commonly known as SABIBECO GROUP, is a long-established player in Vietnam’s beverage manufacturing industry. With more than two decades of continuous operation, the company represents a notable regional brewing group with integrated production assets and a diversified business scope.

Legal Status and Corporate Background

Established on 25 November 2005, the company operates as a joint stock company under Business ID/ TIN 0304116373, registered with the Ho Chi Minh City Department of Planning and Investment. SABIBECO GROUP is currently active, publicly held, and listed on the UPCoM under the stock symbol SBB.

The company maintains a charter capital and fully paid-up capital of USD 35.96 million (as of 31 March 2024), reflecting a stable equity base for its core manufacturing activities. With a workforce of 304 employees, SABIBECO GROUP combines industrial production with centralized corporate governance.

Core Operations and Business Scope

SABIBECO GROUP’s principal line of business is the manufacture of malt liquors and malt, with beer production forming the core of its operating model. Beyond its main activities, the company has registered a wide range of supplementary business lines, including:

• Manufacturing and processing of beer, alcohol, and beverages

• Production of soft drinks, mineral water, and bottled beverages

• Food manufacturing and wholesale distribution

• Warehousing and storage services

• Real estate activities (own and leased properties)

• Construction and infrastructure-related activities

This diversified registration framework provides operational flexibility, though beer and beverage manufacturing remain the primary revenue drivers.

Manufacturing Footprint and Facilities

The company operates an established production network across southern Vietnam, including:

• Head Office: District 1, Ho Chi Minh City

• Binh Duong Factory: Tan Dong Hiep B Industrial Park, Di An City

• Ho Chi Minh City Factory: Vinh Loc Industrial Park, Binh Tan District

• Dong Thap Factory: Tran Quoc Toan Industrial Park, Cao Lanh City

This multi-location manufacturing presence enables SABIBECO GROUP to serve both urban and provincial markets while managing logistics efficiency.

Management and Leadership

A management team leads SABIBECO GROUP with long-term involvement in the company’s development:

• Chairman: Van Thanh L.

• Deputy Chairman: Van Thao N.

• Deputy General Director: Van Bao N.

The leadership structure reflects centralized decision-making typical of Vietnamese industrial groups, particularly in traditional manufacturing sectors such as brewing.

Financial Performance Overview

From a financial perspective, SABIBECO GROUP has experienced significant contraction over the 2022–2024 period, reflecting broader pressures in Vietnam’s beer and beverage market.

• Total Assets declined from USD 124.77 million (2022) to USD 78.66 million (2024), a cumulative reduction driven by asset downsizing and operational restructuring.

• Equity decreased to USD 57.72 million in 2024, mirroring the contraction in asset scale.

• Total Sales fell sharply from USD 96.82 million (2022) to USD 51.52 million (2024), indicating weaker market demand and competitive pressure.

• Profitability deteriorated significantly, with a net loss of USD 13.25 million in 2024, following losses in the preceding year.

While the company maintains positive equity and remains operational, the financial data suggests elevated business risk, margin pressure, and the need for restructuring or strategic repositioning.

Shareholding Structure

SABIBECO GROUP’s ownership is relatively dispersed:

• Other shareholders: 75.65%

• Saigon Binh Tay Beer Group Joint Stock Company: 10.47%

• Saigon Beer – Alcohol – Beverage Corporation (SABECO): 10.03%

• Binh Tay Liquor Joint Stock Company: 3.85%

The presence of SABECO as a shareholder provides industry linkage, though it does not appear to exert controlling influence.

Business Outlook and Risk Considerations

With over 20 years of operating history, SABIBECO GROUP remains a recognized name in Vietnam’s beer manufacturing landscape. However, declining revenues, persistent losses, and shrinking asset levels highlight the company’s exposure to competitive intensity, changing consumer preferences, and regulatory pressures within the alcohol and beverage sector.

For banks, insurers, suppliers, and strategic partners, careful assessment of liquidity, operational sustainability, and shareholder support is essential when evaluating credit or long-term cooperation.

In this context, Vanguard Business Information LLC (VNBIS), a leading provider of business intelligence, financial analysis, and risk assessment services, offers comprehensive company reports, economic evaluations, and corporate due diligence tools to support informed decision-making for Vietnam-focused investments and partnerships. Stakeholders seeking more profound insight into SABIBECO GROUP’s financial structure, governance, and risk profile are encouraged to obtain an updated and detailed company report through VNBIS.