Vietnam Dairy Firm Vinamilk Says H1 Net Profit Down 16.87% At 4.08 Trillion Dong ($155.7 Million), Citing Rising Input Costs

LONDON, July 16, 2024 /PRNewswire/ -- Vinamilk, Vietnam's leading dairy company, received close attention from key players in the global dairy sector during its presentation at the 2024 Global Dairy Congress. Attending the conference for the fourth time, Vinamilk highlighted its comprehensive innovation strategies and the aspirational path it has embarked on to achieve its Dairy Net Zero 2050 goal.

The 17th Global Dairy Congress 2024, held in London from June 25-27, convened senior representatives of dairy companies, experts, and delegates from the global dairy sector. This year's theme, "Healthy People - Healthy Planet," focused on strategic innovations, sustainable development of the dairy industry and latest updates in global dairy market trends, challenges, and opportunities.

In the "Branding for Future" session, Nguyen Quang Tri, Vinamilk's CMO, delivered a compelling speech with the message "Care to Change". He highlighted Vinamilk's strategic innovations focused on future generations, world-class nutrition, excellent customer experience, and a sustainable future. These aspects are considered central to Vinamilk's growth and the evolution of the dairy industry.

Vinamilk delivered an inspiring message with its new brand identity, symbolizing the robust innovation of a billion-dollar brand that embodies the spirit of Vietnam. "We change for you" is a strong statement from Vinamilk, as well as our commitment to the community as we launch a new identity. Changing our brand identity was challenging, but it has been well-received beyond expectations," said Mr. Tri.

Tri also introduced Vinamilk's Green Farm fresh milk product line, which exemplifies the commitment to providing breakthrough nutritional solutions and sustainable development.

Richard Hall, Chairman of the Global Dairy Congress, praised Vinamilk's contributions, stating, "Companies need to create products in exciting and innovative ways that demonstrate the nutritional benefits for human health. Vinamilk, for example, shared its strategies for the Vinamilk Green Farm initiative, which is a great way of demonstrating the quality nature can bring to food, dairy and nutrition. The other thing is the company's consciousness about actions for the climate and sustainability of the earth by reducing emissions from farms, waste from products, and many other aspects efficiently."

Vinamilk is the first Vietnamese company to support the global Pathways to Dairy Net Zero initiative. In 2023, the company announced its Pathways to Dairy Net Zero 2050action plan. Within a year, Vinamilk achieved carbon-neutral certification for three units, including one farm and two factories, according to the PAS2060:2014 standard.

Dr. Timothy Robinson, the independent advisor of Dairy Sustainable Framework (DSF), acknowledged Vinamilk's results towards its Net Zero commitment and expected more coordination and cooperation between Vietnam and the Pathways to Dairy Net Zero initiative, as well as deeper participation in the DSF, to support more of Vinamilk and Vietnam's programs.

For more information, please refer to Vinamilk's Sustainable Development Report 2023.

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