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Vinamilk reported strong results in the first quarter of 2026, with consolidated net revenue reaching VND 16,149 billion, up 24.6% year over year. Net profit increased 54.9% to VND 2,458 billion.
Domestic revenue rose to VND 12,080 billion, up 20.4% year over year. The company attributed the improvement to momentum in the domestic market following the completion of restructuring of its distribution network and the traditional sales team since early 2025.
Vinamilk said core product lines, particularly 100% fresh milk, contributed significantly, supported by quality improvements. The company is also pursuing a growth strategy centered on channel restructuring and a product approach of “low sugar, high protein” to meet demand for healthier dairy options.
Vinamilk added that major sales channels recorded double-digit growth, with e-commerce and Vinamilk stores maintaining momentum. It is also expanding into new consumer segments through Whipping Cream for professional use and providing specialized nutrition services for older adults.
International business delivered revenue of VND 4,069 billion in Q1 2026, up 39.1% year over year. Vinamilk noted that geopolitical tensions around the Hormuz chokepoint and higher freight costs prompted it to deploy alternative routing via Jordan to maintain supply-chain continuity and ensure timely delivery to Middle Eastern partners.
Angkor Milk revenue nearly tripled. In the United States, Driftwood maintained stable output despite a roughly 5% year-over-year decline in revenue due to price adjustments in milk-price contracts. Management improvements supported an increase in after-tax profit of around 25% year over year.
Mơc Châu Milk (MCM) also contributed to Q1 performance, reporting net revenue of VND 742 billion and after-tax profit of VND 80 billion. This represented year-over-year growth of 25.2% in net revenue and 67.8% in after-tax profit, driven by cost optimization and a lean supply chain.
As of end-Q1 2026, Vinamilk’s total assets were VND 55,429 billion, with cash and short-term financial investments accounting for 45.2% of total assets.
With 25% of the annual profit target achieved in Q1, the group said it remains on track to meet the 2026 revenue target of VND 66,477 billion. The board approved a cash dividend for 2026 of at least 50% of projected after-tax profit.
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