Sabeco (SAB) reported a 16% decline in net revenue for Q3 2025 compared to the same period last year. This was primarily due to price increases and the impact of severe storms. However, excluding the consolidation with Sabibeco, revenue only fell by 1%. Sales volume was lower while overall industry growth occurred, largely due to inventory management before the Lunar New Year. The implementation of electronic invoices caused many small businesses to close, forcing Sabeco to seek new sales channels. The company maintains its position as the number one beer producer in Vietnam with the Saigon brand and is ramping up modern trade channels for better competition during the New Year period. Gross margins improved thanks to lower input costs, while the mainstream segment continues to support production. Sabeco is also testing a 250 ml can version of Saigon Chill and exploring opportunities in B2B e-commerce, despite low margins.
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