Joining the global F&B market, TTC AgriS sets a revenue target of VND 60,000 billion in 2030

At the 2022-2023 Annual General Meeting of Shareholders (AGM) held on October 26, Ms. Dang Huynh Uc My - Vice Chairman of the Board of Directors of Thanh Thanh Cong Joint Stock Company - Bien Hoa ( TTC AgriS, HOSE: SBT), affirmed:

"TTC AgriS will continue to closely follow the orientation of applying the Circular Commercial Value Chain model, with the goal of becoming a high-tech agricultural solution provider, participating in the value chain global food and beverage (F&B), pioneering in meeting customer needs to perfect a seamless product and service ecosystem. Accordingly, successfully unlocking potential markets and achieving revenue of 60,000 billion copper in 2030".

Participating in the global F&B market, TTC AgriS sets a revenue target of VND 60,000 billion in 2030.

Over the past year, TTC AgriS has successfully expanded its product portfolio. Specifically, in addition to diversifying the portfolio of sugar product lines, sugar product lines and after-sugar product lines, in order to maximize the sugarcane value chain, TTC AgriS promotes a "green" business strategy. Focus on development, aiming to expand the value chain of other crops such as coconut trees, bananas,... through investing in research on the expanded circular agriculture value chain.

TTC AgriS has developed a diverse product portfolio with the new appearance of 47 coconut products (Cocoxim coconut water, Momcooks coconut milk,...) and 21 other products (solar power, smiley South American banana, Dole banana exports,...). This demonstrates the company's solid capacity, continuing its journey of expanding customer segments, conquering new consumer markets and affirming its position as a leading multinational agricultural enterprise in Vietnam.

In the first quarter of the 2023-2024 fiscal year, TTC AgriS recorded that the revenue of the nutritional drinking water segment continued to increase by 10% compared to the average of the last 6 months of the 2022-2023 fiscal year.

According to the Board of Directors of TTC AgriS, starting from the 2023-2024 fiscal year, with the ownership of a new beverage product portfolio, with more than 30 products, a sharp increase compared to 8 products in the previous fiscal year. TTC AgriS's nutritional drink revenue is expected to increase exponentially in the near future.

TTC AgriS with the goal of becoming a high-tech agricultural solution provider, participating in the global food and beverage (F&B) value chain, pioneering customer needs to perfect the ecosystem. seamless products and services.

In the short term, revenue from the nutritional drink segment in the second quarter is expected to increase by more than 160%, as the market enters the festive season and Lunar New Year. And it continues to accelerate in the third quarter, expected to increase by more than 300%, as the company promotes the export market, promising that this potential business segment will make an important contribution to bringing TTC AgriS's profit towards the target of 1,000 billion VND. VND in the 2023-2024 fiscal year.

In the long term, TTC AgriS strives towards the goal that F&B revenue will contribute 30-40% of the company's total revenue structure by 2030. The shift in revenue structure has affirmed its commitment TTC AgriS aims at a comprehensive agricultural value chain, deeply participating in the global agricultural value-added chain, and is clearly evidenced in the shift in export revenue. This shows that TTC AgriS is operating on the right roadmap and is in the Leading Agriculture position.

According to Statista, by 2023, the world non-alcoholic beverage market share is expected to reach 109.1 billion USD, and by 2027 this market share is expected to increase by 73%, equivalent to 188.6 million USD, a growth rate annual CAGR is 13.2%.

According to iPOS.vn's report, F&B industry revenue in Vietnam still has a high growth rate of nearly 610,000 billion VND, forecast to grow 18% in 2023, and reach a value of nearly 1 million billion VND by 2020. 2026.

Vietnam is a bright investment destination for the F&B industry compared to its Southeast Asian neighbors. According to statistics, the F&B industry has contributed 15.8% to the total national GDP (2021). Total spending on food and beverages accounts for the highest proportion at about 35% of spending.

In addition to positive business results, TTC AgriS's scale has also been expanded, with total assets as of September 30, 2023 reaching 30,763 billion VND (equivalent to 1.3 billion USD).

Early grasping future F&B industry trends, TTC AgriS has focused on building a market development strategy during the past time. In parallel, we are focusing resources on research and development of new agricultural products, natural nutritional F&B products, in accordance with market trends, commercializing products with high added value, increase the crop value chain, take advantage of sustainable competitiveness, thereby meeting the diverse needs of the market.

Net revenue increased by 20%, completing 31% of the year plan, pre-tax profit completed 30% of the plan in the first 3 months of the year.

The 2023-2024 fiscal year starts from July 1, 2023, with positive prospects for the Sugar industry, at the end of the first quarter, TTC AgriS consumed more than 313,000 tons of sugar, an increase of 14% over the same period. The company recorded net revenue of more than 6,366 billion VND, an increase of 20% over the same period, completing 31% of the year plan.

Consumption output of sales channels also recorded positive points over the same period, especially the export channel increased dramatically by 105%, this is a testament to TTC AgriS's continuous efforts in bringing new products to customers. Company branded products successfully conquered 50+ markets globally, growing more than 70% compared to the number of 29+ markets in the previous year.

In addition to positive business results, the scale of TTC AgriS has also been expanded, with total assets as of September 30, 2023 reaching 30,763 billion VND (equivalent to 1.3 billion USD), an increase of more than 829 billion VND. VND compared to the end of the 2022-2023 fiscal year, continuing to affirm the company's strong financial potential.

TTC AgriS has developed a diverse product portfolio with the new appearance of 47 coconut products and 21 other products.

Following the company's strategic development orientation to 2025 and vision to 2030, TTC AgriS realizes its commitment to sustainable development, aiming to balance the ecosystem and environment.

Speaking at the 2022-2023 Annual General Meeting of Shareholders, with the theme "Natural nutrition - enhancing sustainable agriculture", Ms. Huynh Bich Ngoc, Chairman of the Board of Directors of TTC AgriS emphasized: "Sustainable development is throughout TTC AgriS's development journey, we take the "Green" strategy as the foundation for development, competitive advantage and providing the market with green energy solutions from clean production. In the 2023-2024 fiscal year, the company has oriented and comprehensively built key tasks on solutions - services - technology - sustainable development. TTC AgriS's Board of Directors has also set specific tasks for new era".

With the company's strategic development orientation to 2025 and vision to 2030, the company realizes its commitment to sustainable development, aiming to balance the ecosystem and environment.

TTC AgriS affirms its position, creating a playground for experts to share and exchange knowledge, aiming to participate more deeply in the field of food and beverage processing - a pioneer in ensuring nutritional reputation, guiding to the Net Zero goal by 2035, contributing to economic and social development and sharing achievements with stakeholders.

According to Dan Viet Electronic Newspaper