E-Malt.com News article: Vietnam: Hanoi Beer Thanh Hoa Joint Stock Company sees net profit plummet by 64% in Q3

Hanoi Beer Thanh Hoa Joint Stock Company has announced its Q3 2026 financial report, showing a 64% decrease in net profit compared to the same period last year. Despite revenue growth, soaring selling and administrative expenses resulted in core business operations incurring losses. The company only avoided a financial crisis thanks to other income from its parent company, Habeco, Vietnam.vn reported on October 21.

According to the Q3 2026 financial report of Hanoi Beer Thanh Hoa Joint Stock Company, net revenue reached VND 525 billion, a 13% increase compared to the same period last year. This growth stemmed from both increased sales volume and higher product prices. Gross profit for the period also increased by 20%, reaching VND 44.8 billion.

Despite improved revenue, the burden of expenses has become a major pressure on the business. Selling expenses increased by 21% to VND 47 billion, officially exceeding the gross profit generated in the quarter. Consequently, administrative expenses also increased by 36% to VND 16.5 billion. Ineffective cost control resulted in the company's core business recording a net loss of VND 18.2 billion, a significant widening of the VND 13.6 billion loss in the third quarter of last year.

The company avoided overall losses thanks to other income of VND 21.5 billion, largely from sales revenue to Hanoi Beer, Alcohol and Beverage Corporation (Habeco). As a result, net profit in the third quarter was only VND 2.6 billion, a sharp drop of 64% compared to the same period last year. For the first nine months of 2026, Hanoi Beer Thanh Hoa recorded revenue of VND 1,468 billion and net profit of VND 5.6 billion. This cumulative result was also determined by other income of VND 61.7 billion from Habeco, offsetting a net loss of nearly VND 55 billion from its main business operations.

Regarding the financial picture, as of September 30, 2026, Hanoi Beer Thanh Hoa 's total assets reached VND 372 billion, a 25% increase compared to the beginning of the year. The asset structure is mainly concentrated in short-term assets with VND 303 billion, accounting for 81% of total assets. Of this, the largest amount of cash is allocated to short-term financial investments at VND 102 billion and short-term receivables at VND 113.3 billion.

Details of accounts receivable show that customer receivables reached VND 57 billion. Receivables from Habeco amounted to over VND 22 billion, a decrease of 57% compared to the beginning of the period. The company also no longer recorded the VND 57 billion receivable from Pacific Food and Beverage Trading Company Limited. This fluctuation resulted in a 52% decrease in short-term customer receivables. The company's inventory currently stands at VND 47 billion, down 24%, largely consisting of raw materials and work-in-progress. Long-term assets reached nearly VND 69 billion, mainly fixed assets.

In terms of capital, the company's total liabilities swelled to VND 220 billion, a 46% increase compared to the beginning of the year. The debt pressure mainly comes from short-term debt at VND 202 billion. Major items include accounts payable to suppliers at VND 35 billion, taxes and other payments to the State exceeding VND 50 billion, and other short-term payables exceeding VND 90 billion. Long-term debt also increased by 24% to over VND 17 billion. The company's equity currently stands at VND 152 billion, only a slight increase of 3% compared to the beginning of the year.



21 October, 2026