- SAB announced its 9M 2022 results with revenue and NPAT-MI surging 44% YoY and 77% YoY to VND25tn (USD1.0bn) and VND4.2tn (USD171mn), respectively. SAB's 9M 2022 revenue and NPAT-MI fulfilled 70% and 81% of our respective full-year forecasts. We see potential upside to our current projections, pending a fuller review.

- In Q3 2022, SAB’s revenue was VND9tn (USD352mn; +102% YoY) and its NPAT-MI was VND1.3tn (USD55mn; +202% YoY). 

- In terms of beer revenue, 9M 2022 results were strong (+42% YoY). However, it only achieved 70% of our projection, we believe it will jump in Q4 2022 due to seasonal effects and holidays/special occasions occurring at the end of the year.

Powered by Froala Editor