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Top 5 coffee companies in Vietnam

Top 5 coffee companies in Vietnam

Friday 23, 10 2020
The list of top 5 coffee companies in Vietnam is prepared by VietnamCredit based on independent research and evaluation by our experts.

Top 5 companies in the coffee industry in Vietnam are ranked based on financial indicators including gross profit margin (GPM), total assets, and owner’s equity. Non-financial indicators including credit ratings and reputation are also used to assess these companies.

Top 5 Coffee companies in Vietnam 
Top 5 Coffee companies in Vietnam



Vietnam National Coffee Corporation specializes in planting, processing, and trading coffee, rice, rubber, and fertilizers. In recent years, agricultural products have been strongly influenced by economic instability and fierce competition, resulting in lower profits. In 2019, the company exported a total of only 47,050.6 tons of coffee. 

Currently, the company is managing 10 dependent units, 21 wholly-owned companies, and contributing capital to 3 companies. Vietnam National Coffee Corporation is under restructuring process. According to Decree 126/2017/ ND-CP, the State wants to divest from the company.
Regarding financial performance, the company depends heavily on the futures price of goods. It also has to face with weather changes. Therefore, its revenue has been quite volatile (increasing by 12.48% in 2018 and decreasing by 29.86% in 2019). Besides, its main products do not produce high added value.

COGS accounts for a large proportion of revenue. So when facing unfavorable business conditions, the company will immediately suffer from operation loss. 
The funding structure of the company has been reasonably allocated between short-term sources and short-term assets, corresponding to long-term funding and long-term assets. However, the proportion of short-term debt is quite large, causing pressure to pay principal in the short-term.


The company specializes in manufacturing and processing coffee, instant cereal and drinking products. Its products include roasted-ground coffee, instant coffee, and instant nutritious cereal. Currently, its products have been well-known not only in domestic market but also in international market. 

In recent years, the company’s sales from instant coffee products have decreased because there have been more competitors.  With many changes in consumption habits, and market pressure, the company decided to launch Wake Up Coffee 247, which is an energy drink. This product line has contributed largely to the company’s total sales in recent years.
In general, the company has established a firm position in the coffee industry. 
Vinacafe Bien Hoa’s 2019 total sales were only about 133 million USD, a decrease of 10.19% over the previous year. However, the company managed costs more effectively with 6.41% y-o-y increase of profit after tax. As a result, its profit indexes continued to be satisfactory compared to other companies in the same industry.

Although the its capital was in line with DSO, the company still maintained low liabilities ratios and managed financial risk well. 
At the end of 2Q2020, the business result of Vinacafe Bien Hoa also witnessed a slight decrease of 50 million USD in total sales, and 11 million USD in profit after tax.


This company is a member of Trung Nguyen Legend, a group operating in many fields such as coffee business, franchise, tourism, and real estate with brands Coffee City, Trung Nguyen Legend, Trung Nguyen e-Coffee, Trung Nguyen Coffee, G7, Brothers, and Legend Coffee Tour. 
Trung Nguyen Coffee used to be popular among Vietnamese consumers. However, due to the dispute between founders of the company, its image has been badly affected.
Figures from the company’s financial statement show that the revenue grew by 8.78% in 2018 and slightly declined by 4.70% in 2019. Moreover, its profit after tax has constantly decreased due to increased selling expenses.
Most of the company’s assets are long-term investments in subsidiaries and associates. Short-term and long-term held-to-maturity investments represented a large source of money. Liquidity ratios showed that the company could meet short-term obligations, especially 2019’s calculated CCC was only 2 days. However, DPO showed a longer delay time compared to the industry average in terms of meeting financial obligations.


The company was formerly known as a branch of a State-owned enterprise that was founded in 1995. In 2006, it was changed to a joint stock company.  
Intimex specializes in trading and processing agricultural products such as rice, coffee, cashew nuts, pepper, and importing and trading frozen food, iron and steel. Besides, it also operates in the fields of supermarket business, trade centers business, supplying commercial services, and producing and trading construction materials 

Its products are exported to many countries such as Europe, Malaysia, Singapore, Indonesia, USA, Japan, China, Hong Kong, South Korea and Taiwan. It imports frozen foods such as chicken, beef, pork, etc. from the USA, Brazil, India, Australia, Spain. In addition, it has promoted domestic trade by setting up wholesale and retail network through a supermarket system.
Its business activities have not been affected much by the Covid-19 pandemic. 
Although the Covid-19 pandemic has negatively affected many businesses, the company is still confident with its future. Accoding to the resolution of the General Meeting of Shareholders in 2020, the business development plan of the company is expected to be positive with the expected revenue of 452 million USD, an increase of 23.4% over 2019. 


DakLak September 2nd specialized is a State-owned company that specialized in processing coffee bean and pepper under the management of People’s Committee of DAK LAK province. Its finished products are exported to foreign markets like Japan, EU, and the USA.
Due to the impact of the COVID-19 pandemic, coffee and other agricultural products have suffered from dramatic decrease in demand. According to the Ministry of Agriculture and Rural Development, coffee export turnover reached only 765 million USD, which is a decrease of 9.8% over the same period last year. 

In the first quarter of 2020, the company signed many export contracts with total amount of 30,000 tons. Unfortunately, most of its partners were forced to stop importing products. Due to unfavorable market conditions, the company has proactively resorted to other markets but this was not actually feasible. 
Since 2018, the company’s sales have continuously decreased, and reached 84 million VND in FY 2019. It’s 2019 profit also decrease. 
Net cash from operating activities of the company was not optimistic for FY 2019. In spite of a reduction in sales, receivables from customers increased dramatically in FY 2019. To some certain extent, the company can use favorable terms to stimulate output consumption. For capital structure, both debt ratio and gearing ratio in general were higher than the industry average.

Overview of Vietnam’s coffee industry

Source: VietnamCredit

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