Hanoi Beer Alcohol and Beverage JSC

Hanoi Beer Alcohol and Beverage JSC

HHOSE:BHN
27,350.00
VND
-100.00
(-0.36%)
6.93TMarket Cap
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
43,124.57
42,285.42
39,259.13
40,272.67
32,150.96
29,985.07
36,245.77
33,452.77
35,454.75
36,842.18
- -
Basic EPS, GAAP
3,411.09
2,834.59
2,152.69
2,330.2
2,831.53
1,313.43
2,004.79
1,450.07
1,599.25
2,015.55
- -
Free Cash Flow per Basic Share
-130.75
2,179.77
1,275.69
4,061.85
1,591.08
2,765.23
4,141.28
1,653.54
3,770.13
1,956.6
2,041.17
Dividend per Share
1,081.73
1,550.59
112.1
8,125.58
89.08
3,265.47
2,410.49
1,270.68
1,489.56
1,201.23
1,212.52
Book Value per Share
15,765.78
16,354.8
18,319.49
19,535.72
21,982.9
18,085.45
20,038.48
19,991.25
19,811.86
20,365.68
20,988.86
Tangible Book Value per Share
15,150.27
16,106.46
18,077.41
19,282.17
21,662.31
17,667.93
19,678.69
19,623.44
19,487.37
20,064.59
20,706.31
Basic Weighted Avg Shares
232
232
232
232
232
232
232
232
232
232
232
Sales/Revenue/Turnover
9,996,274
9,801,760
9,100,267
9,335,205
7,452,592
6,950,539
8,401,769
7,754,353
8,218,412
8,540,018
- -
Operating Margin (%)
9.46
9.04
5.55
5.74
5.56
4.06
5.77
2.82
3.81
4.28
- -
Depreciation Expense
490,914
483,622
474,333
471,866
465,318
464,542
442,732
415,810
383,094
260,121
232,564
Net Income, GAAP
790,690
657,059
498,994
540,139
656,348
304,452
464,710
336,126
370,707
467,205
- -
Effective Tax Rate (%)
24.59
24.32
22.69
21.87
13.9
21.23
20.39
23.61
22.83
19.49
- -
Profit Margin (%)
7.91
6.7
5.48
5.79
8.81
4.38
5.53
4.33
4.51
5.47
- -
Working Capital
524,025
811,631
1,515,480
1,868,012
2,754,578
2,236,888
3,050,045
3,409,529
3,482,819
3,990,049
3,916,600
LT Debt
445,952
363,783
246,708
133,446
100,868
48,500
- -
6,518
916
304
- -
Total Equity
4,411,211
4,520,970
4,930,755
5,181,563
5,735,538
4,834,878
5,327,098
5,307,509
5,266,380
5,398,119
5,537,511
Return on Invested Capital (%)
- -
10.53
7.71
8.57
6.81
5.17
8.68
5.81
6.54
8.15
- -
Return on Capital (%)
- -
12.61
9.93
10.4
11.47
5.3
8.19
5.94
6.55
8.25
- -
Return on Common Equity (%)
- -
17.65
12.42
12.31
13.64
6.56
10.52
7.24
8.04
10.03
- -

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
28,204
37,849
- -
LT Borrowings
304
151
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
232
232
232
Market Capitalization
7,232,160
6,838,100
6,930,820

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
5,943,329
5,647,673
6,371,055
Cash, Cash Equivalents & STI
4,857,858
4,483,375
5,326,246
Accounts Receivable, Net
198,927
257,894
269,678
Inventories
665,428
657,372
685,057
Total Current Liabilities
1,953,280
1,713,561
2,454,456
Payables & Accruals
- -
- -
- -
ST Debt
28,204
37,849
- -
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
-0.83%
2.5%
Free Cash Flow
- -
28.68%
-48.1%
Net Income, GAAP
- -
1.54%
26.03%
Sales/Revenue/Turnover
- -
3.26%
3.91%
Total Cash Common Dividend
- -
698.01%
-19.36%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,308,100
2,305,566
2,335,257
2,270,698
8,218,412
2025
1,458,026
2,355,750
- -
2,203,148
8,540,018
2026
1,929,641
2,835,044
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-22.59
663.71
535.32
472.37
1,599.25
2025
141.69
618.07
- -
308.98
2,015.55
2026
333.14
959.34
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.62
78.05
-76.24
1,485.13
1,489.56
2025
23.82
-3.5
1,123.64
57.27
1,201.23
2026
24.27
7.34
- -
- -
- -

Company Description

CEO
Lam Que Ngo
Full Time Employees
509
Sector
Consumer non-durables
Industry
Beverages: alcoholic
Address
Ha Noi Vietnam
IPO Date
Jan 19, 2017
Business
Hanoi Beer Alcohol and Beverage Joint Stock Corporation (HABECO) is a Vietnam-based company primarily engaged in the manufacturing, marketing, and distribution of beer, spirits, and non-alcoholic beverages. Tracing its origins to the Hommel Brewery established in 1890 and re-established as the Hanoi Brewery in 1957, the corporation is headquartered in Hanoi, Vietnam, and operates as a joint-stock enterprise with majority state ownership under the Ministry of Industry and Trade, alongside a significant strategic minority equity stake held by Carlsberg A/S. The company operates across integrated business segments that encompass alcoholic beverage manufacturing, non-alcoholic drink production, packaging manufacturing, warehousing, and the trading and import-export of raw brewing materials and equipment. The corporation produces and sells an extensive portfolio of beverages across multiple consumer segments, systematically categorized into: draught beers, comprising traditional Bia Hoi Hanoi; packaged commercial beers, marketed under the flagship Bia Hanoi brand in canned, bottled, and export variations including Hanoi Beer Premium, Hanoi Bold, Hanoi Light, Hanoi Green Label, and Hanoi Red Label; premium heritage lagers, anchored by the Truc Bach Beer brand; distilled spirits and liquors, produced through subsidiary entities such as Hanoi Liquor Joint Stock Company (HALICO) and featuring Hanoi Vodka and specialty liquors; non-alcoholic beverages, including Uniaqua bottled purified water and soft drinks; and industrial auxiliary goods, encompassing metal crown caps, beverage packaging materials, and supply-chain logistics services. Geographically, HABECO operates extensively across Vietnam, maintaining market leadership in Northern and North-Central Vietnam via a coordinated network of brewing subsidiaries, associated production facilities, and regional wholesale distributors, while expanding commercial distribution into Southern Vietnam. The corporation also exports its packaged beer and spirit products to overseas markets across Asia, Europe, North America, and Oceania, including South Korea, Japan, Taiwan, the United Kingdom, Germany, France, Austria, the Czech Republic, Australia, and the United States, servicing international retail chains and hospitality venues. In recent operational and strategic developments, HABECO has implemented a multi-year corporate restructuring program to optimize organizational efficiency and navigate shifting market conditions and regulatory environments. The company streamlined its internal governance by reducing organizational management tiers from six levels to four, reducing indirect labor overhead by approximately 15%, and committing capital investments of over 860 billion VND toward production automation and facility modernization. To align with evolving consumer preferences, the corporation expanded its product portfolio by launching new offerings in the premium beer category, introducing non-alcoholic beer lines, and rolling out comprehensive brand and packaging redesigns across its core canned and bottled Bia Hanoi lines. Additionally, HABECO executed strategic distribution partnerships with prominent regional distributors to accelerate its commercial penetration and market share growth in Southern Vietnam.