Vietnam Dairy Products Corp.


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Mar 23, 2018
Prev close: 207,000
Mar 23, 2018
Market cap:
Market cap(USD):
Shares: 1,451.26M

Currency in VND

Company profile

Market(Ticker): STC(VNM)
Consumer Non-Durables
Food: Meat/Fish/Dairy
Full time employees: 7,845

Business summary

Vietnam Dairy Products Corp. engages in the production and distribution of dairy products. Its products include fresh milk, yoghurt, drinking yoghurt, fermented yoghurt, ice-cream, cheese, and milk powder for elders, mothers, and kids, soy bean milk, fruit juice, smoothie, atiso tea, and aloe vera through Vinamilk, Dielac, Ridielac, and V-Fresh brand names. It distributes its products in Australia, Cambodia, Philippines, and the United States. The company was founded in 1976 and is headquartered in Ho Chi Minh City, Vietnam.

Company background

Vietnam Dairy Products (Vinamilk) is Vietnam's largest food processor and deals in a wide variety of dairy products, including milk and yogurt. It is said to account for about 50% of Vietnam's dairy market.

The company was founded in 1976 and went public on the Hochiminh Stock Exchange in 2006. It is 45% owned by the government. Its high potential is recognized outside the country as well and foreign investors own 49% of the company. Its market capitalization is the second largest in Vietnam at around $5.5 billion.

According to a study by a private research agency, dairy consumption has surged more than 20-fold in Vietnam over the last 20 years, with Vinamilk contributing much to this trend.

CEO Mai Kieu Lien, who was born in France in 1953, studied milk processing in the former Soviet Union and then returned to Vietnam. She has been listed by Forbes as one of Asia's 50 Power Businesswomen.

Vinamilk went into dairy farming in 2006 in Vietnam, where there were very few dairy farmers. The company now runs five dairy farms. In view of the aging of society, it has marketed to seniors dairy products rich in calcium and vitamins.

In the news

Financial highlights

Dec 2017

  • Local currency
  • US Dollar
Revenue 51,041.07B
Gross profit 24,083.74B
Operating income 11,441.02B
Income before tax 12,228.94B
Net income 9,224.00B
EBITDA 12,799.31B
Diluted EPS 6,355
Dividends per share 5,000
Total assets 34,667.31B
Total liabilities 10,794.26B
Total equity 23,375.26B
Operating cash flow 10,356.55B

Currency in VND

Revenue 2,246.84M
Gross profit 1,060.17M
Operating income 503.63M
Income before tax 538.32M
Net income 406.04M
EBITDA 563.42M
Diluted EPS 0.27
Dividends per share 0.22
Total assets 1,526.58M
Total liabilities 475.32M
Total equity 1,029.33M
Operating cash flow 455.89M

Currency in USD

Valuation measures

Dec 2017

PER 32.82
ROA 28.80%
ROE 40.50%
Operating margin 22.41%
Profit margin 18.07%

Key executive

  • Chief Executive Officer & Director: Lien Kieu Mai
  • Chief Research & Development Officer: Khanh Quoc Nguyen
  • Chief HR & Administration Officer: Huong Thi Bui
  • Co-Secretary & Director-Foreign Branch: Thanh Truc Quang Le
  • Chief Dairy Farm Officer: Dung Quoc Trinh

Share holders

  • State Capital Investment Corp. (Investment Company)(36.0%)
  • Fraser & Neave Ltd.(16.7%)
  • Jardine Cycle & Carriage Ltd.(10.0%)
  • Matthews International Capital Management LLC(3.7%)
  • Genesis Investment Management LLP(2.1%)
  • Arisaig Partners (Asia) Pte Ltd.(1.6%)
  • LGM Investments Ltd.(1.1%)
  • VinaCapital Investment Management Ltd. (Invt Mgmt)(0.8%)
  • Amersham Industries Ltd.(0.7%)
  • Dragon Capital Management Co. Ltd.(0.6%)


  • Website:
  • Address: 10 Tan Trao Street, Tan Phu Ward, Ho Chi Minh City, 700000, Vietnam
  • Phone: +

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