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VIETNAM COFFEE MARKET REPORT Q2/2018
2
Content
Abbreviations 3 3. Vietnam coffee market 49
Summary 4 3.1 Classification of coffee produced in Vietnam 49
1. Business environment 6 3.2 Process and production technology 52
1.1 Macroeconomic situation 6 3.3 Production 60
1.2 Legal framework 11 3.4 Consumption 65
1.3 Impact of trade agreements 19 3.5 Export Import 69
2. World market 23 3.6 Inventory 75
2.1 Industry value chain 23 3.7 Price 77
2.2 Production 25 3.8 Distribution system and payment methods 80
2.3 Consumption 29 3.9 Competitive Analysis 82
2.4 Export - Import 32 4. Risk of Vietnam coffee market 86
2.5 Inventory 37 5. Planning 88
2.6 Price movement 39 6. Prospects and forecasts 91
2.7 Current situation in some typical countries 42 7. Enterprise Analysis 95
Financial statement appendix 117
3
Abbreviations
ICO International Coffee Organization
MARD Ministry of Agriculture and Rural Development
SBV State Bank of Vietnam
GDVC General Department of Vietnam Customs
GSO General Statistics Office of Vietnam
USDA United States Department of Agriculture
Vicofa Vietnam Coffee - Cocoa Association
Vinastas Vietnam Standards and Consumers Association
VIRAC Vietnam Industry Research And Consultancy
4
Summary
World coffee production in the 2014/2015
season decreased by 2.29% over the
2013/2014 season
Arabica is the most widely grown seed in the
world, accounting for over 60% of the total
world coffee production.
The world coffee demand has been increasing.
Vietnam currently grows two main types of
coffee: Arabica and Robusta.
Domestic consumption of
coffee in the period 2012 - 2018e with CARG
of 7.9%, in which consumption of ground
roasted coffee accounts for about two thirds
of output, the remaining one third is instant
coffee.
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5
Summary
In 2017/18 season, total quantity of imported
coffee was estimated of Vietnam at 1.06 million
bags.
In the first quarter of 2018, quantity of
exported coffee was estimated at 529
thoudsand tons.
The purchase of coffee from the farmers is
mainly done by local traders,
In general, revenue and profit ratio of large
businesses in the coffee sector have been
growing, compared with 2015.
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6
1. Business environment
1.1 Macroeconomic situation
1.2 Legal framework
1.3 Free trade agreements
1. Business environment
1.1. Macroeconomic situation
7
Source: VIRAC, GSO
Source: VIRAC, GSO
Gross domestic product (GDP) in Q1/2018 is estimated to increase
by 7.38% compared to the same period last year.
Coffee is one of the main agricultural products of Vietnam in the
world market.
GDP growth rate, by quarter, 2015 – Q1/2018
Structure of GDP at current price, Q1/2018e
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1. Business Environment
1.1. Macroeconomic situation
8
Source: VIRAC, GSO
Disposable income and household expenditure, 2008 - 2017fMillion VND
Increased tendency of disposable income is a positive factor
driving demand for eating.
Vietnam is currently the
country with the fastest growing rate of middle and upper class in
Southeast Asia and is expected to reach 33 millions of people by 2020.
Structure of population by stratification (expenditure), 2013 - 2020f
Source: VIRAC, BCG
Million
peoplle
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1. Business environment
1.1. Macroeconomic situation
9
Source: VIRAC, MARD
Source: VIRAC, MARD
Export structure of major agricultural products of
Vietnam, Q1/2018e
Value and proportion of coffee in main agricultural exports, 2010-Q1/2018e
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1. Business environment
1.1. Macroeconomic situation
10
Source: VIRAC, SBV
Vietnamese coffee is mainly for export purpose. The United States is
the largest coffee importer of Vietnam.
Source: VIRAC, Nielsen
• Consumer confidence index in Vietnam in Q4/2017 decreased by 1
point to 116 points, in comparison with the previous quarter.
• It showed that Vietnamese consumers
have become more and more willing to pay for bigger expenses in
order to improve their life quality.
Consumer confidence index, 2014 – Q4/2017
VND/USD Exchange rate, 2013-3/2018
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Content
11
1. Business Environment
1.1 Macroeconomic Situation
1.2 Legal Framework
1.3 Free Trade Agreements
1. Business Environment
1.2. Legal Framework
12
On 9 April 2012, the Ministry of Finance issued Circular 55/2012 / TT-BTC guiding the valuation of coffee gardens, tea gardens associated with
processing establishments when equitization took effect from May 25, 2012.
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1. Business Environment
1.2. Legal Framework
13
On May 31st, the Ministry of Agriculture and Rural Development issued Decision No. 2085 / QD-BNN-TT promulgating the process of replanting
Robusta coffee
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1. Business Environment
1.2. Legal Framework
14
National standard for green coffee
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1. Business Environment
1.2. Legal Framework
15
National standard for roasted coffee
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1. Business Environment
1.2. Legal Framework
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National standard for ground coffee
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1. Business Environment
1.2. Legel Framework
17
Import and export taxes applicable to the coffee industry
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1. Business Environment
1.2. Legal Framework
18
Special Consumption Tax
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Content
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1. Business Environment
1.1 Macroeconomic Situation
1.2 Legal Framework
1.3 Free Trade Agreements
20
Vietnam trade integration process from 1995 to present
Until the end of first quarter of 2018, Vietnam has signed, implemented, and is negotiating a total of 17 FTAs. Accession to international trade
agreements brings opportunities and challenges for domestic firms.
1. Business Environment
1.3 Free Trade Agreements
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21
CPTPP - Comprehensive and Progressive Agreement for Trans-Pacific Partnership
1. Business Environment
1.3 Free Trade Agreements
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1. Business Environment
1.3 Free Trade Agreements
22
RCEP
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Content
23
2. World Coffee Industry
2.1 Production Value Chain
2.2 Production
2.3 Consumption
2.4 Export - Import
2.5 Inventory
2.6 Price Movement of World Coffee
2.7 Current Situation in Some Typical Countries
2. World Coffee Industry
2.1 Production Value Chain
24
Production value chain
Activities
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2. World Coffee Industry
2.1 Production Value Chain
2.2 Production
2.3 Consumption
2.4 Export Import
2.5 Inventory
2.6 Price Movement of World Coffee
2.7 Current Situation in Some Typical Countries
2. World Coffee Industry
2.2 Production
26
Source: VIRAC, ICO
World coffee production in the 2014/2015 season decreased by 2.29% over the 2013/2014 season,
World coffee production in the 2016/2017 season reached at 153.87 millions of bags, equivalent to 9.23 million tons, increase 1.52% over the 2015/2016
season.
World coffee production I the 2017/2018 season was 159.66 million bags, increasing 1.2% compared to the 2016/2017 season.
Thousand
bags
World production of coffee by season, 2007/2008-2017/2018e
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2. World Coffee Industry
2.2 Production
27
Source: VIRAC, ICO
Source: VIRAC, ICO
Brazil is the largest Arabica producer in the world.
Colombia is the world's second-largest Arabica producer with production of
Colombian Milds was 14 million bags in 2017/2018 season, decreasing by
4.3% in comparison with the previous season.
Arabica production structure, 2016/2017
Structure of coffee production by types of nut,
2016/2017
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2. World Coffee Industry
2.2 Production
28
Source: VIRAC, ICO
Source: VIRAC, ICO
Structure of coffee production by region, 2017/2018e
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Content
29
2. World Coffee Industry
2.1 Production Value Chain
2.2 Production
2.3 Consumption
2.4 Export Import
2.5 Inventory
2.6 Price Movement of World Coffee
2.7 Current Situation in Some Typical Countries
2. World Coffee Industry
2.3 Consumption
30
Source: VIRAC, USDA
World coffee consumption by season, 2012/2013 – 2017/2018e
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PURPOSEThe world coffee demand is getting higher and higher. Total quantity of consumed coffee is estimated to be 158.47 million bags in the season
2017/2018 season.
According to International Coffee Organisation (ICO), people have consumed more and more coffee. The demand is projected to increase by 25%
within next 5 years.
2. World Coffee Industry
2.3 Consumption
31
Source: VIRAC, USDA
Source: VIRAC, USDA
Structure of world coffee consumption by region,
2017/2018e
Structure of coffee consumption by country, territory,
2017/2018e
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Content
32
2. World Coffee Industry
2.1 Production Value Chain
2.2 Production
2.3 Consumption
2.4 Export - Import
2.5 Inventory
2.6 Price Movement of World Coffee
2.7 Current Situation in Some Typical Countries
2. World Coffee Industry
2.4 Export Import– Export
33
Source: VIRAC, USDA
Source: VIRAC, USDA
World coffee export output by season, 2012/2013
– 2017/2018e
Export structure of coffee by type, 2017/2018e
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2. World Coffee Industry
2.4 Export Import– Export
34
Source: VIRAC, USDA
Source: VIRAC, USDA Source: VIRAC, USDA
Export structure of coffee beans by country and territory,
2017/2018e
Export structure of roasted ground coffee by country and
territory, 2017/2018e
Export structure of instant coffee by country and territory,
2017/2018e
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2. World Coffee Industry
2.4 Export Import– Import
35
Source: VIRAC, USDA
Source: VIRAC, USDA
Thousand bags
World coffee import by season, 2012/2013 – 2017/2018e
Import structure of coffee by type, 2017/2018e
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2. World Coffee Industry
2.4 Export Import– Import
36
Source: VIRAC, USDA
Source: VIRAC, USDA Source: VIRAC, USDA
Import structure of coffee beans by country and
territory, 2017/2018e
Import structure of ground roasted coffee by country and
territory, 2017/2018e
Structure of instant coffee import by country and territory,
2017/2018e
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Content
37
2. World Coffee Industry
2.1 Production Value Chain
2.2 Production
2.3 Consumption
2.4 Export Import
2.5 Inventory
2.6 Price Movement of World Coffee
2.7 Current Situation in Some Typical Countries
2. World Coffee Industry
2.5 Inventory
38
Source: VIRAC, USDA
Source: VIRAC, ICO
The world inventory in 2017/2018 season was 29.26 million bags,
decreasing by 8.61%, compared to the previous season.Thousand bags
Thousand bags
World coffee inventories by season, 2012/2013 –
2017/2018e
Inventories of world green coffee by year, 2007-2017e
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Content
39
2. World Coffee Industry
2.1 Production Value Chain
2.2 Production
2.3 Consumption
2.4 Export Import
2.5 Inventory
2.6 Price Movement of World Coffee
2.7 Current Situation in Some Typical Countries
2. World Coffee Industry
2.6 Price Movement of World Coffee
40
Source: VIRAC, ICO
Source: VIRAC, ICO
UScent/lb
USSD/lb
Price of raw coffee beans in some countries, 2007-2016
Retail price of roasted coffee in some largest importers,
2007-2016
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2. World Coffee Industry
2.6 Price Movement of World Coffee
41
UScent/lb
Source: VIRAC, ICO
The coffee price since the beginning of 2016 has always remained stable and tends to decrease slightly.
The world Robusta coffee price has fluctuated around 100 US cent/lb.
World coffee price by type, 8/2016 – 3/2018
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42
2. World Coffee Industry
2.1 Production Value Chain
2.2 Production
2.3 Consumption
2.4 Export Import
2.5 Inventory
2.6 Price Movement of World Coffee
2.7 Current Situation in Some Typical Countries
2. World Coffee Industry
2.7 Current Situation in Some Typical Countries
43
Brazil
Thousand bags
Source: VIRAC, ICO, USDA
Total coffee production of Brazil in 2017/2018 season is
51.2 million bags. Brazil is the world’s biggest coffee
producer.
It is estimated that Brazil has about 3.5 million people
working in the coffee industry, mainly in rural areas.
Coffee production, consumption and export of Brazil, 2012/2013 –
2017/2018e
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2. World Coffee Industry
2.7 Current Situation in Some Typical Countries
44
Colombia
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2. World Coffee Industry
2.7 Current Situation in Some Typical Countries
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Thousand bags
Source: VIRAC, ICO, USDA
Colombia is the third largest coffee grower in the world,Coffee production, consumption and export of Colombia,
2012/2013-2017/2018e
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2. World Coffee Industry
2.7 Current Situation in Some Typical Countries
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Indonesia
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2. World Coffee Industry
2.7 Current Situation in Some Typical Countries
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Thousand
bags
Source: VIRAC, ICO, USDA
Indonesia is the second largest producer of coffee in
Asia, after Vietnam.
Indonesia's production, consumption and export of coffee,
2012/2013-2017/2018e
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2. World Coffee Industry
2.7 Current Situation in Some Typical Countries
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Ethiopia
Over the years, Ethiopia has always been Africa's largest
coffee producer.
Thousand
bags
Source: VIRAC, ICO, USDA
Ethiopian production, consumption and export of coffee, 2012/2013 –
2017/2018e
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Content
50
3 Vietnam coffee market
3.1 Classification of coffee produced in Vietnam
3.2 Process and production technology
3.3 Production
3.4 Consumption
3.5 Export Import
3.6 Inventory
3.7 Price
3.8 Distribution system and payment methods
3.9 Competitive Analysis
50
3. Vietnamese Coffee Market
3.1 Coffee Classification
Currently, Vietnam cultivates two main types of coffee: Arabica and Robusta.
Arabica
Moka:
Catimor:
Robusta
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Characteristics Arabica coffee Robusta coffee
Comparison between Arabica coffee and Robusta coffee
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3. Vietnamese Coffee Market
3.1 Coffee Classification
3 Vietnam coffee market
3.1 Classification of coffee produced in Vietnam
3.2 Process and production technology
3.3 Production
3.4 Consumption
3.5 Export Import
3.6 Inventory
3.7 Price
3.8 Distribution system and payment methods
3.9 Competitive Analysis
Content
53
53
3. Vietnam coffee market
3.2 Process and production technology
Coffee beans production process Roasted coffee production process
Instant coffee production process
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3. Vietnam coffee market
3.2 Process and production technology
Coffee beans production process
Step 1:
Coffee sorting machineTHE CONTENT IS INTENTIONALLY REMOVED FOR DEMO
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3. Vietnam coffee market
3.2 Process and production technology
Step 2: Shelling machine
Raoeng milling machineTHE CONTENT IS INTENTIONALLY REMOVED FOR DEMO
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3. Vietnam coffee market
3.2 Process and production technology
Step 3:
Step 4:
Step 5:
Hand-drying ovenRotary dryer
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3. Vietnam coffee market
3.2 Process and production technology
Step 6:
Step 7:
Step 8:
Step 9:
Engelber Dry Milling Equipment
Smout polishing machine
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3. Vietnam coffee market
3.2 Process and production technology
Production process of roasted coffee beans
Step 1:
Step 2:
Standing roasterStep 3:
Step 4:
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3. Vietnam coffee market
3.2 Process and production technology
Production process of instant coffee from roasted coffee powder
Extraction
Condensation
Drying
Repatriation technology
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Content
61
3 Vietnam coffee market
3.1 Classification of coffee produced in Vietnam
3.2 Process and production technology
3.3 Production
3.4 Consumption
3.5 Export Import
3.6 Inventory
3.7 Price
3.8 Distribution system and payment methods
3.9 Competitive Analysis
61
3. Vietnam coffee market
3.3 Production
According to the Ministry of Agriculture and Rural Development, the country now has 22
provinces and cities with 105 districts growing coffee,
Source: VIRAC
Thousand hectares
Source: VIRAC
Planting coffee area in some provinces, 2014/15 – 2017/18f
Structure of coffee growing area in Vietnam, 2016/17
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3. Vietnam coffee market
3.3 Production
Dak Lak, Lam Dong, Dak Nong, Gia Lai are currently the key coffee growing
areas of the country.
Source: VIRAC
Suitable altitude for growing Robusta and Arabica coffee
Some provinces of Vietnam growing coffee
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3. Vietnam coffee market
3.3 Production
Source: VIRAC, Processing Department
Thousand tons / year
Source: VIRAC, Processing Department
Thousand tons / year
Dak Lak is the largest coffee producing area in Vietnam
Ground roasted coffee processing factories and
capacity, 2017
Instant coffee processing facilities and capacity, 2017THE CONTENT IS INTENTIONALLY REMOVED FOR DEMO
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64
3. Vietnam coffee market
3.3 Production
The coffee production output of Vietnam in the past years has many
changes.
Source: VIRAC, USDA
Thousand bags 60kgs
Source: VIRAC, USDA
Coffee production output of Vietnam, 2012/13 -
2017 / 18e
Coffee production structure of Vietnam, 2017/2018e
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3 Vietnam coffee market
3.1 Classification of coffee produced in Vietnam
3.2 Process and production technology
3.3 Production
3.4 Consumption
3.5 Export Import
3.6 Inventory
3.7 Price
3.8 Distribution system and payment methods
3.9 Competitive Analysis
66
3. Vietnam coffee market
3.4 Consumption
Source: VIRAC, USDA
Thousand bags 60kg
Domestic consumption of coffee in the period 2012 - 2018e
However, compared to the average consumption of coffee in the region
and in the world, the consumption of domestic coffee in Vietnam is very
low,
Domestic coffee consumption in Vietnam, 2012/13 -
2017/18e
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3. Vietnam coffee market
3.4 Consumption
Source: VIRAC, Euromonitor
Thousand tons
Source: VIRAC, Euromonitor
Billions VND
In the period 2011 - 2016, retail coffee output in the domestic market of
Vietnam
Coffee retail sales in Vietnam, 2011 - 2017
Retail value of coffee in the market, 2011 - 2017
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3. Vietnam coffee market
3.4 Consumption
• According to Market Intello's coffee consumption survey,
Source: VIRAC, Marketintello
Source: VIRAC, MarketintelloSource: VIRAC, Marketintello
Using habits of instant coffee, 2016
The habit of using roasted coffee, 2016
Types of coffee used at home, 2016
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3 Vietnam coffee market
3.1 Classification of coffee produced in Vietnam
3.2 Process and production technology
3.3 Production
3.4 Consumption
3.5 Export Import
3.6 Inventory
3.7 Price
3.8 Distribution system and payment methods
3.9 Competitive Analysis
70
3. Vietnam coffee market
3.5 Export Import – 3.5.1 Import
Source: VIRAC, USDA
Thousand bags 60kg
Source: VIRAC, GDVC
Vietnam is currently importing small quantities of fresh and roasted coffee
beans and ready-made coffee from China, Laos, Indonesia, Brazil, USA ...
Source: VIRAC, USDA
Import of ground roasted coffee in Vietnam, 2012/13
- 2017 / 18e
Vietnam's coffee import market by value, 2016/2017 Import structure of coffee in Vietnam, 2016 / 2017e
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3. Vietnam coffee market
3.5 Export Import – 3.5.1 Import
Source: VIRAC, GDVC
Some of the largest coffee importing enterprises, 2016/2017
Top coffee importing enterprises, 2016 / 2017e
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3. Vietnam coffee market
3.5 Export Import – 3.5.2 Export
Millions USD
Source: VIRAC, GDVC
Thousand tons
Source: VIRAC, , Ministry of Industry and Trade
Export structure of coffee by type, Q1/2018
Volume and value of Vietnamese coffee exports,
2013 – Q1/2018e
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In 2017, coffee exports reached 1.4 million tons,
Sources: VIRAC, MARD
Million USD
Sources: VIRAC, GDVC
Thousand tonsUSD./tonAverage export price and export volume of coffee by month, 2017 – Q1/2018
Monthly coffee exports, 2016 - 2018
3. Vietnam coffee market
3.5 Export Import – 3.5.2 Export
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3. Vietnam coffee market
3.5 Export Import – 3.5.2 Export
Source: VIRAC, GDVC
In the 2016/2017 season, Germany is the largest coffee importer of Vietnam, Structure of coffee export market by output,
2016 / 2017e
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Source: VIRAC, GDVC
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3. Vietnam coffee market
3.5 Export Import – 3.5.2 Export
Source: VIRAC, GDVC
Source: VIRAC, GDVC
Some of the largest coffee exporting enterprises, 2016/2017
Top Coffee Exporting Enterprises, 2016 / 2017e
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3 Vietnam coffee market
3.1 Classification of coffee produced in Vietnam
3.2 Process and production technology
3.3 Production
3.4 Consumption
3.5 Export Import
3.6 Inventory
3.7 Price
3.8 Distribution system and payment methods
3.9 Competitive Analysis
77
3. Vietnam coffee market
3.6 Inventory
Source: VIRAC, USDA
Thousand bags 60kgs
Coffeee inventories in Vietnam, 2012/13 - 2017/18e
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3 Vietnam coffee market
3.1 Classification of coffee produced in Vietnam
3.2 Process and production technology
3.3 Production
3.4 Consumption
3.5 Export Import
3.6 Inventory
3.7 Price
3.8 Distribution system and payment methods
3.9 Competitive Analysis
Domestic price:
79
VND/kg
Sources VIRAC collects
Price of domestic Robusta raw coffee, 10/2016 – 3/2018
3. Vietnam coffee market
3.7 Price
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Generally in 2017, coffee export price increased slightly in the first eight months and increased sharply in September, then fell sharply in the last three
months of the year.
Coffee export price in Q1/2018:
80
USD/ton
Sources: VIRAC collects
3. Vietnam coffee market
3.7 Price
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FOB Coffee export price in Ho Chi Minh City, 10/2016 - 3/2018
81
The average export price of coffee to 10 markets reached the highest level in Q1/2018
Sources: VIRAC, GDVC
Markets Average export price in
Q1/2018 (USD/ton)
Compared to 2017(%) Average export price of Mar/2018 (USD/ton)
Compared to Feb/2018 (%) Compared to Mar/2017 (%)
3. Vietnam coffee market
3.7 Price
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Vietnam is the world's second largest coffee exporter with international quality standards, but its export price is only 65-85% of the coffee export price
of other countries as the coffee enterprises in the country have not identified long-term business plan, and coffee is mainly sold at the beginning of the
season,
82
3. Vietnam coffee market
3.7 Price
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3. Vietnam coffee market
3.7 Price
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Content
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3 Vietnam coffee market
3.1 Classification of coffee produced in Vietnam
3.2 Process and production technology
3.3 Production
3.4 Consumption
3.5 Export Import
3.6 Inventory
3.7 Price
3.8 Distribution system and payment methods
3.9 Competitive Analysis
85
3. Vietnam coffee market
3.8 Distribution system and payment methods
The purchase of coffee from farmers is
mainly done by local traders,
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Methods of purchase and payment by farmers, purchasing agents and coffee processing factories:
3. Vietnam coffee market
3.8 Distribution system and payment methods
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Pros Cons
3. Vietnam coffee market
3.8 Distribution system and payment methods
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Pros and cons of purchasing suppliers for the company
Pros Cons
3. Vietnam coffee market
3.8 Distribution system and payment methods
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Method of purchase and payment of coffee farmers, purchasing agents, processing enterprises for foreign enterprises
3. Vietnam coffee market
3.8 Distribution system and payment methods
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3. Vietnam coffee market
3.8 Distribution system and payment methods
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Content
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3 Vietnam coffee market
3.1 Classification of coffee produced in Vietnam
3.2 Process and production technology
3.3 Production
3.4 Consumption
3.5 Export Import
3.6 Inventory
3.7 Price
3.8 Distribution system and payment methods
3.9 Competitive Analysis
92
3. Vietnam coffee market
3.9 Competitive Analysis
Source: VIRAC, Euromonitor
Source: VIRAC, Euromonitor
The market shares of coffee retails are equally divided between foreign companies
and domestic ones.
Share of retail sales of some large companies in the
market, 2017
Share of retail sales of some brands in the market, 2017THE CONTENT IS INTENTIONALLY REMOVED FOR DEMO
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According to Euromonitor, coffee chain store-shop is the type that has developed the most rapidly.
93
3. Vietnam coffee market
3.9 Competitive Analysis
New brandTraditional brand
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94
3. Vietnam coffee market
3.9 Competitive Analysis
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Even though there are few FDI businesses that invest in coffee sector, they account for an overwhelming percentage
4 Risk of Vietnam coffee market
Content
95
Risk in production :
Risk in coffee price:
Currency risk:
Competitive risk coming from quality requirements :
Risk coming from competitors :
96
4. Risk of Vietnam coffee industry
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PURPOSE
5 Planning
Content
7
On February 2, 2012, the Prime Minister issued Decision No. 124 / QD-TTg approving the overall planning for agricultural production development to
2020 with a vision to 2030. Accordingly, the coffee plant planning as following details:
.
On August 21, 2012, the Ministry of Agriculture and Rural Development issued Decision No. 1987 / QD-BNN-NT approving of planning for developing
Vietnam's coffee industry up to 2020 with a vision to 2030.
Development Goals :
Planning Orientation:
98
5. Planning
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PURPOSE
99
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PURPOSE
5. Planning
6 Prospects and forecasts
Content
7
101
6. Prospects and forecasts
Prospects
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6. Prospects and forecasts
Forecasts
102
Source: VIRAC, USDA
Thousand bags World Coffee Production, 2012/2013 - 2017/2018e
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The world coffee output is projected to be sharply increase in the 2017/2018 season
The 2017/2018 season
Forecasts to 2021
103
6. Prospects and forecasts
Forecasts
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PURPOSE
Content
104
7. Enterprise Analysis
105
Enterprises' Overview
Name Address Total assets in
2016 (Billion
VND)
net revenue in
2016 (Billion
VND)
Top coffee producing enterprises of Vietnam
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PURPOSE
INTIMEX GROUP JOINT STOCK COMPANY
106
Enterprises' Overview
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PURPOSE
OLAM VIETNAM COMPANY LIMITED
107
Enterprises' Overview
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PURPOSE
NESTLÉ VIET NAM COMPANY LIMITED
108
Enterprises' Overview
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PURPOSE
PHUC SINH JOINT STOCK COMPANY
109
Enterprises' Overview
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PURPOSE
2 -9 DAK LAK IMPORT EXPORT COMPANY LIMITED (Simexco DakLak)
110
Enterprises' Overview
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PURPOSE
JOINT STOCK COMPANY - TIN NGHIA CORPORATION
111
Enterprises' Overview
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PURPOSE
TRUNG NGUYEN GROUP JOINT STOCK COMPANY
112
Enterprises' Overview
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PURPOSE
Vinacafé Bien Hoa Joint Stock Company
113
Enterprises' Overview
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PURPOSE
Vinh Hiep Co., Ltd
114
Minh Tien Coffee Export Import Co., Ltd
Enterprises' Overview
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PURPOSE
Content
115
7. Enterprise Analysis
7.1 Profitability
7.2 Operability
7.3 Performance efficiency
7.4 Profit Ratio
The net revenue of companies in 2016 was higher than those in 2015 and the average growth rate is 20% because of the high growth of Vietnam coffee
industry in the last 3 years.
Billion VND
116
7. Enterprise Analysis
7.1 Profitability
Net revenue ,2015 - 2016
Source: VIRAC
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PURPOSE
Billion VND
117
Source: VIRAC
In 2016, companies in the industry have gross profit growth compared to that in 2015. Therein, Trung Nguyen has the highest gross profit margin in the
industry with 41.3% in 2016.
7. Enterprise Analysis
7.1 Profitability
Gross profit margin, 2015 - 2016
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PURPOSE
Content
118
7. Enterprise Analysis
7.1 Profitability
7.2 Operability
7.3 Performance efficiency
7.4 Profit Ratio
119
Source: VIRAC
7. Enterprise Analysis
7.2 Operability
The repayment capacity of enterprises, 2015 - 2016
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Generally, most businesses in coffee sector mobilize capital through loans.
120
Source: VIRAC
Vinacafe Bien Hoa and Trung Nguyen are two enterprises with the highest pay ratios in the sector because they are the two enterprises that have the least
loan of the top coffee businesses, they mainly use equity capital. These are also two main businesses with domestic production and supply.
7. Enterprise Analysis
7.2 Operability
Pay Ratio, 2015 - 2016
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PURPOSE
Content
121
7. Enterprise Analysis
7.1 Profitability
7.2 Operability
7.3 Performance efficiency
7.4 Profit Ratio
7. Enterprise Analysis
7.3. Performance efficiency
122
Source: VIRAC
Source: VIRAC
Phuc Sinh JSC has the largest total asset turnover
with 6.22 rounds.
Total asset turnover, 2016
Fixed asset turnover, 2016
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PURPOSE
7. Enterprise Analysis
7.3. Performance efficiency
123
Billion VND
Billion VND
Source: VIRAC
Source: VIRAC
Financial Cost, 2016
Enterprise Cost Management, 2016
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Content
124
7. Enterprise Analysis
7.1 Profitability
7.2 Operability
7.3 Performance efficiency
7.4 Profit Ratio
7. Enterprise Analysis
7.4. Profit Ratio
125
Source: VIRAC
Profit Ratio, 2016
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PURPOSE
Content
126
Financial statement appendix
Appendix
Financial Statement
127
INTIMEX GROUP JOINT STOCK COMPANY
BALANCE SHEET
Unit: VND 2015 2016
A. CURRENT ASSETS
I. Cash and petty cash
II. Temporary investments
III. Accounts receivable
1. From customers
IV. Inventory
B. LONG-TERM ASSETS
TOTAL ASSETS
A. CURRENT LIABILITIES
I. Current liabilities
1. Loan and Current liabilities
2. Taxes and accounts payable to the state
II. Long-term liabilities
1. Loan and Long-term liabilities
2. Long-term accounts payable
B. OWNER'S EQUITY
TOTAL LIABILITIES AND OWNER'S EQUITY
BUSINESS RESULTS REPORT
Unit: VND 2015 2016
Net revenue from sales and services
Cost of goods sold and services
Gross profit of goods sold and services
Profit from financial activities
Financial cost
Interest expense
Cost of goods sold
Administration cost
Net profit from business activities
Gross profit before tax
Current corporate income tax expense
Deferred corporate income tax expense
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2015 2016
I. Cash flow from operations
Depreciation of fixed assets
Gain (Loss) from unrealized exchange rate differences
Net Cash flow from operations
II. Cash flow from investing
Shopping, building fixed assets and other long-term
assets
Net Cash flow from investing
III. Cash flow from financing
Net cash flow from financing
Net cash flow during the year
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PURPOSE
Appendix
Financial Statement
128
OLAM VIETNAM COMPANY LIMITED
BALANCE SHEET
Unit: VND 2015 2016
A. CURRENT ASSETS
I. Cash and petty cash
II. Temporary investments
III. Accounts receivable
1. From customers
IV. Inventory
B. LONG-TERM ASSETS
TOTAL ASSETS
A. CURRENT LIABILITIES
I. Current liabilities
1. Loan and Current liabilities
2. Taxes and accounts payable to the state
II. Long-term liabilities
1. Loan and Long-term liabilities
2. Long-term accounts payable
B. OWNER'S EQUITY
TOTAL LIABILITIES AND OWNER'S EQUITY
BUSINESS RESULTS REPORT
Unit: VND 2015 2016
Net revenue from sales and services
Cost of goods sold and services
Gross profit of goods sold and services
Profit from financial activities
Financial cost
Interest expense
Cost of goods sold
Administration cost
Profit from business activities
Gross profit before tax
Current corporate income tax expense
Deferred corporate income tax expense
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2015 2016
I. Cash flow from operations
Depreciation of fixed assets
Gain (Loss) from unrealized exchange rate differences
Net cash flow from operations
II. Cash flow from investing
Shopping, building fixed assets and other long-term assets
Net Cash flow from investing
III. Cash flow from financing
Net cash flow from financing
Net cash flow during the year
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PURPOSE
Appendix
Financial Statement
129
NESTLÉ VIET NAM COMPANY LIMITED
BALANCE SHEET
Unit: VND 2015 2016
A. CURRENT ASSETS
I. Cash and petty cash
II. Temporary investments
III. Accounts receivable
1. From customers
IV. Inventory
B. LONG-TERM ASSETS
TOTAL ASSETS
A. CURRENT LIABILITIES
I. Current liabilities
1. Loan and Current liabilities
2. Taxes and accounts payable to the state
II. Long-term liabilities
1. Loan and Long-term liabilities
2. Long-term accounts payable
B. OWNER'S EQUITY
TOTAL LIABILITIES AND OWNER'S EQUITY
BUSINESS RESULTS REPORT
Unit: VND 2015 2016
Net revenue from sales and services
Cost of goods sold and services
Gross profit of goods sold and services
Profit from financial activities
Financial cost
Interest expense
Cost of goods sold
Administration cost
Profit from business activities
Gross profit before tax
Current corporate income tax expense
Deferred corporate income tax expense
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2015 2016
I. Cash flow from operations
Depreciation of fixed assets
Gain (Loss) from unrealized exchange rate differences
Net Cash flow from operations
II. Cash flow from investing
Shopping, building fixed assets and other long-term assets
Net Cash flow from investing
III. Cash flow from financing
Net cash flow from financing
Net cash flow during the year
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PURPOSE
Appendix
Financial Statement
130
PHUC SINH JOINT STOCK COMPANY
BALANCE SHEET
Unit: VND 2015 2016
A. CURRENT ASSETS
I. Cash and petty cash
II. Temporary investments
III. Accounts receivable
1. From customers
IV. Inventory
B. LONG-TERM ASSETS
TOTAL ASSETS
A. CURRENT LIABILITIES
I. Current liabilities
1. Loan and Current liabilities
2. Taxes and accounts payable to the state
II. Long-term liabilities
1. Loan and Long-term liabilities
2. Long-term accounts payable
B. OWNER'S EQUITY
TOTAL LIABILITIES AND OWNER'S EQUITY
BUSINESS RESULTS REPORT
Unit: VND 2015 2016
Net net revenue from sales and services
Cost of goods sold and services
Gross profit of goods sold and services
Profit from financial activities
Financial cost
Interest expense
Cost of goods sold
Administration cost
Profit from business activities
Gross profit before tax
Current corporate income tax expense
Deferred corporate income tax expense
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2015 2016
I. Cash flow from operations
Depreciation of fixed assets
Gain (Loss) from unrealized exchange rate differences
Net Cash flow from operations
II. Cash flow from investing
Shopping, building fixed assets and other long-term assets
Net Cash flow from investing
III. Cash flow from financing
Net cash flow from financing
Net cash flow during the year
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PURPOSE
Appendix
Financial Statement
131
2-9 DAK LAK IMPORT EXPORT ONE MEMBER CO., LTD
BALANCE SHEET
Unit: VND 2015 2016
A. CURRENT ASSETS
I. Cash and petty cash
II. Temporary investments
III. Accounts receivable
1. From customers
IV. Inventory
B. LONG-TERM ASSETS
TOTAL ASSETS
A. CURRENT LIABILITIES
I. Current liabilities
1. Loan and Current liabilities
2. Taxes and accounts payable to the state
II. Long-term liabilities
1. Loan and Long-term liabilities
2. Long-term accounts payable
B. OWNER'S EQUITY
TOTAL LIABILITIES AND OWNER'S EQUITY
BUSINESS RESULTS REPORT
Unit: VND 2015 2016
Net net revenue from sales and services
Cost of goods sold and services
Gross profit of goods sold and services
Profit from financial activities
Financial cost
Interest expense
Cost of goods sold
Administration cost
Profit from business activities
Gross profit before tax
Current corporate income tax expense
Deferred corporate income tax expense
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2015 2016
I. Cash flow from operations
Depreciation of fixed assets
Gain (Loss) from unrealized exchange rate differences
Net Cash flow from operations
II. Cash flow from investing
Shopping, building fixed assets and other long-term assets
Net Cash flow from investing
III. Cash flow from financing
Net cash flow from financing
Net cash flow during the year
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PURPOSE
Appendix
Financial Statement
132
JOINT STOCK COMPANY - TIN NGHIA CORPORATION
BALANCE SHEET
Unit: VND 2015 2016
A. CURRENT ASSETS
I. Cash and petty cash
II. Temporary investments
III. Accounts receivable
1. From customers
IV. Inventory
B. LONG-TERM ASSETS
TOTAL ASSETS
A. CURRENT LIABILITIES
I. Current liabilities
1. Loan and Current liabilities
2. Taxes and accounts payable to the state
II. Long-term liabilities
1. Loan and Long-term liabilities
2. Long-term accounts payable
B. OWNER'S EQUITY
TOTAL LIABILITIES AND OWNER'S EQUITY
BUSINESS RESULTS REPORT
Unit: VND 2015 2016
Net net revenue from sales and services
Cost of goods sold and services
Gross profit of goods sold and services
Profit from financial activities
Financial cost
Interest expense
Cost of goods sold
Administration cost
Profit from business activities
Gross profit before tax
Current corporate income tax expense
Deferred corporate income tax expense
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2015 2016
I. Cash flow from operations
Depreciation of fixed assets
Gain (Loss) from unrealized exchange rate differences
Net Cash flow from operations
II. Cash flow from investing
Shopping, building fixed assets and other long-term assets
Net Cash flow from investing
III. Cash flow from financing
Net cash flow from financing
Net cash flow during the year
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PURPOSE
Appendix
Financial Statement
133
TRUNG NGUYEN GROUP JOINT STOCK COMPANY
BALANCE SHEET
Unit: VND 2015 2016
A. CURRENT ASSETS
I. Cash and petty cash
II. Temporary investments
III. Accounts receivable
1. From customers
IV. Inventory
B. LONG-TERM ASSETS
TOTAL ASSETS
A. CURRENT LIABILITIES
I. Current liabilities
1. Loan and Current liabilities
2. Taxes and accounts payable to the state
II. Long-term liabilities
1. Loan and Long-term liabilities
2. Long-term accounts payable
B. OWNER'S EQUITY
TOTAL LIABILITIES AND OWNER'S EQUITY
BUSINESS RESULTS REPORT
Unit: VND 2015 2016
Net net revenue from sales and services
Cost of goods sold and services
Gross profit of goods sold and services
Profit from financial activities
Financial cost
Interest expense
Cost of goods sold
Administration cost
Profit from business activities
Gross profit before tax
Current corporate income tax expense
Deferred corporate income tax expense
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2015 2016
I. Cash flow from operations
Depreciation of fixed assets
Gain (Loss) from unrealized exchange rate differences
Net Cash flow from operations
II. Cash flow from investing
Shopping, building fixed assets and other long-term assets
Net Cash flow from investing
III. Cash flow from financing
Net cash flow from financing
Net cash flow during the year
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PURPOSE
Appendix
Financial Statement
134
VINACAFÉ BIEN HOA JOINT STOCK COMPANY
BALANCE SHEET
Unit: VND 2015 2016
A. CURRENT ASSETS
I. Cash and petty cash
II. Temporary investments
III. Accounts receivable
1. From customers
IV. Inventory
B. LONG-TERM ASSETS
TOTAL ASSETS
A. CURRENT LIABILITIES
I. Current liabilities
1. Loan and Current liabilities
2. Taxes and accounts payable to the state
II. Long-term liabilities
1. Loan and Long-term liabilities
2. Long-term accounts payable
B. OWNER'S EQUITY
TOTAL LIABILITIES AND OWNER'S EQUITY
BUSINESS RESULTS REPORT
Unit: VND 2015 2016
Net net revenue from sales and services
Cost of goods sold and services
Gross profit of goods sold and services
Profit from financial activities
Financial cost
Interest expense
Cost of goods sold
Administration cost
Profit from business activities
Gross profit before tax
Current corporate income tax expense
Deferred corporate income tax expense
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2015 2016
I. Cash flow from operations
Depreciation of fixed assets
Gain (Loss) from unrealized exchange rate differences
Net Cash flow from operations
II. Cash flow from investing
Shopping, building fixed assets and other long-term assets
Net Cash flow from investing
III. Cash flow from financing
Net cash flow from financing
Net cash flow during the year
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PURPOSE
Appendix
Financial Statement
135
VINH HIEP CO., LTD
BALANCE SHEET
Unit: VND 2015 2016
A. CURRENT ASSETS
I. Cash and petty cash
II. Temporary investments
III. Accounts receivable
1. From customers
IV. Inventory
B. LONG-TERM ASSETS
TOTAL ASSETS
A. CURRENT LIABILITIES
I. Current liabilities
1. Loan and Current liabilities
2. Taxes and accounts payable to the state
II. Long-term liabilities
1. Loan and Long-term liabilities
2. Long-term accounts payable
B. OWNER'S EQUITY
TOTAL LIABILITIES AND OWNER'S EQUITY
BUSINESS RESULTS REPORT
Unit: VND 2015 2016
Net net revenue from sales and services
Cost of goods sold and services
Gross profit of goods sold and services
Profit from financial activities
Financial cost
Interest expense
Cost of goods sold
Administration cost
Profit from business activities
Gross profit before tax
Current corporate income tax expense
Deferred corporate income tax expense
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2015 2016
I. Cash flow from operations
Depreciation of fixed assets
Gain (Loss) from unrealized exchange rate differences
Net Cash flow from operations
II. Cash flow from investing
Shopping, building fixed assets and other long-term assets
Net Cash flow from investing
III. Cash flow from financing
Net cash flow from financing
Net cash flow during the year
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PURPOSE
Appendix
Financial Statement
136
MINH TIEN COFFEE IMPORT EXPORT CO., LTD
BALANCE SHEET
Unit: VND 2015 2016
A. CURRENT ASSETS
I. Cash and petty cash
II. Temporary investments
III. Accounts receivable
1. From customers
IV. Inventory
B. LONG-TERM ASSETS
TOTAL ASSETS
A. CURRENT LIABILITIES
I. Current liabilities
1. Loan and Current liabilities
2. Taxes and accounts payable to the state
II. Long-term liabilities
1. Loan and Long-term liabilities
2. Long-term accounts payable
B. OWNER'S EQUITY
TOTAL LIABILITIES AND OWNER'S EQUITY
BUSINESS RESULTS REPORT
Unit: VND 2015 2016
Net net revenue from sales and services
Cost of goods sold and services
Gross profit of goods sold and services
Profit from financial activities
Financial cost
Interest expense
Cost of goods sold
Administration cost
Profit from business activities
Gross profit before tax
Current corporate income tax expense
Deferred corporate income tax expense
Profit after tax
CASH FLOW STATEMENT
Unit: VND 2015 2016
I. Cash flow from operations
Depreciation of fixed assets
Gain (Loss) from unrealized exchange rate differences
Net Cash flow from operations
II. Cash flow from investing
Shopping, building fixed assets and other long-term assets
Net Cash flow from investing
III. Cash flow from financing
Net cash flow from financing
Net cash flow during the year
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PURPOSE
REPORT DISCLAIMER
137
Report Disclaimer:
This document has been prepared in good faith on the basis of information available at the date of publication without any independent verification. VIRAC has
produced this report for private circulation to professional clients only. All information and statistical data herein have been obtained from sources we believe to
be reliable and made to ensure the accuracy of the contents of the pages of the report at the time of preparation. Such information has not been independently
verified and VIRAC makes no representation or warranty, whether express or implied, of any kind with respect to the document and its contents, information and
materials. The content found in this report is proprietary to VIRAC and is provided solely for your personal and non-commercial use. You agree that you will not
use this report for any purpose that is unlawful and that you will not reproduce the report or redistribute it outside your organisation, or place it on a website for
public access without the express written permission of VIRAC.
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VIETNAM INDUSTRY RESEARCH AND CONSULTANT (VIRAC JSC.,)
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Website: http://virac.com.vn/
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