Analyst Pin-board Dairy industry – Vietnamese Dairy Companies Set A Conservative Plan for 2022 Period
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· Vietnamese dairy companies set a conservative 2022 business plan due to rising input costs. In detail, 2022 expected net profit of VNM, IDP and MCM – the three largest market capitalization listed dairy companies – are VND9,775 bn (-7.2% YoY), VND452 bn (-45.1% YoY), and VND344 (+7.7% YoY), respectively. · Consumer behavior towards dairy products has changed because of Covid-19 pandemic. Mentioned by Kantar Worldpanel, dairy products are one of the categories have presented a sustain growth during the outbreak of Covid-19 pandemic in Vietnam. We believe that there is still a room for Vietnam dairy industry to grow in the future. · To prepare for future growth, Vietnamese dairy companies will focus on strengthening their inner capacity. We suggest that those investing in production capacity, distribution system, and cow herds, such as VNM or MCM, will show further improved business performance, leading to higher ROE, when the pressures of rising input costs fade. |
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