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Vinamilk is implementing a price increase amid rising costs for raw materials and logistics. The company said recent changes to personal tax relief could lift consumers’ disposable incomes by 2–3%, supporting demand for FMCG products.
Vinamilk reported Q1 2026 revenue rising about 25% year over year. After-tax profit increased by as much as 55%. The company attributed the results to a low comparison base in Q1 2025, positive sales growth, and effective cost control.
Gross profit margin also improved, supported by lower input costs from earlier procurement.
Domestic revenue recorded a strong rebound, while export revenue rose 15–16% year over year.
Vinamilk said the impact of the Middle East conflict in Q1 was not significant because most orders had already been completed before tensions escalated.
Vinamilk said subsidiaries continued to support overall growth:
In distribution, traditional channels currently account for about 65% of Vinamilk’s revenue, while modern channels contribute 20%. The company also noted that its store network and e-commerce have increased their revenue share from 11% to 15% in recent years and will continue to expand.
Vinamilk expects to increase the number of stores to around 850–1,000 by the end of 2026.
Vinamilk said the Green Farm premium brand remains a new growth driver, maintaining triple-digit compound growth since its launch in 2024.
The Moc Chau Creamery product line also received positive feedback, supported by its heritage-brand positioning of more than 70 years.
After launching more than 100 new SKUs in 2025, Vinamilk said it will continue introducing special products to celebrate its 50th anniversary this year.
For 2026, Vinamilk reiterated targets approved by shareholders: revenue growth of 5% and after-tax profit of 9,828 billion VND. The company’s stated figures are 66,477 billion VND for revenue and 9,828 billion VND for after-tax profit.
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