Carlsberg Vietnam Breweries Limited (Vietnam)

The subject is a wholly-owned subsidiary of CARLSBERG INTERNATIONAL A/S, a member of CARLSBERG GROUP, which was the first Danish multinational brewer to invest in Vietnam by establishing a subsidiary in Thua Thien Hue Province.  Currently, the subject has many beer products under brands like Carlsberg, Halida, Huda, Huda Gold, Tuborg, Huda Ice Blast, etc. According to a report from Vietnam-Briefing, in 2022, Vietnam's beer consumption accounted for 2.2% of the global market, reaching 3.8 million liters of beer annually. With this number, Vietnam leads in the ASEAN region in beer consumption currently. Over the years, the beer market has been dominated by a group of four major brands, namely Sabeco, Heineken, Habeco and Carlsberg. These four brands account for 90% of Vietnam's beer market share in 2022, of which Heineken and Sabeco have a market share of 43%, and 25% respectively. Now "CARLSBERG Beer" has become a popular name among Vietnamese people. According to the chief accountant, to take more market share, the subject has tried to improve the quality of products, and customer care services and expand the market to the Northern cities and provinces in Vietnam instead of just focusing on the Central and Southern markets as in the past. Therefore, the subject's business result is expected to get better in the coming time. Its annual net revenue increased continuously with a compound annual growth rate of 15.3% during the period of 2018-2022.