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L/O/G/O
Financial Management
Giant Alcohol & Beverage Company in Vietnam Habeco vs Sabeco
1
Members of Group 5 - Ben 8
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Name ID Name ID
CHÂU DIỆU HẢI NAM 2218211 NGUYỄN THỊ THANH THỦY 2214627
VI THỊ HỒNG MINH 2214452 VŨ LÊ PHONG 2218222
NGUYỄN MINH QUÂN 2216856 NGUYỄN THỊ MINH HƯỜNG 2220783
VŨ PHƯƠNG TRÀ 2218198NGUYỄN HỒNG PHÚC 2198417
PHAN ANH QUANG 2214606 DƯƠNG TRỌNG TRUNG 2218209
CHÂU QUANG ĐẠI 2218226LÊ HẢI PHÚ 2216702
Contents
CASE STUDY
HABECO & SABECO
MBA 651: FINANCIAL MANAGEMENT
Executive Summary
Recommendation
Analysis on Financial report
Comparison of ratios
3
History of Company
Habeco Sabeco
Transaction name Hanoi Beer - Alcohol-Beverage Corporation
Saigon Beer - Alcohol-Beverage Corporation
Establishment 1958 1977
Subsidary & Ventures 23 23 subsidiaries and 22 ventures
IPO 2008 2008
Number of Empoyees 900 2645
Production capacity 650 mil litter/year 1.04 bil litter/year
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Executive summary
5
Analysis Financial Report - Habeco
INCOME STATEMENT 2008 2009 2010 2011 2012
1 Revenue from Sales of goods 1,919.44 4,009.25 5,026.58 5,601.53 6,544.77
YoY - 108.9% 25.4% 11.4% 16.8%
2 Deductions 453.61 869.67 997.71 1,054.20 1,146.03
YoY - 91.7% 14.7% 5.7% 8.7%
3 Net sales 1,465.83 3,139.59 4,028.87 4,547.33 5,398.74
YoY - 114.2% 28.3% 12.9% 18.7%
4 Costs of goods sold 1,157.64 2,396.96 2,965.33 3,478.03 4,277.70
YoY - 107.1% 23.7% 17.3% 23.0%
5 Gross profit/ (loss) 308.18 742.63 1,063.54 1,069.30 1,121.04
YoY - 141.0% 43.2% 0.5% 4.8%
6 Financial income 163.95 116.42 296.39 361.61 427.92
YoY - -29.0% 154.6% 22.0% 18.3%
7 Financial expenses 9.23 89.31 72.45 90.77 32.96
In which: Loan interest expenses - 9.64 17.81 13.32 5.94
8 Selling expenses 198.76 339.32 358.99 512.68 565.64
YoY - 70.7% 5.8% 42.8% 10.3%
9 Administrative overheads 36.27 86.13 91.01 97.32 131.80
YoY - 137.5% 5.7% 6.9% 35.4%
10Profit/(loss) after tax (net
income)182.00 293.05 771.44 658.64 694.64
YoY 61.0% 163.2% -14.6% 5.5%
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Analysis Financial Report - Habeco
HABECO
BALANCE SHEET 2008 % 2009 % 2010 % 2011 % 2012 %
CURRENT ASSETS 847.16 24% 389.17 10% 843.83 19% 911.40 22%
1,368.70 30%
I. Cash and cash equivalents 52.60 2% 56.72 1% 339.18 8% 170.67 4%
802.24 18%
II. Short-term investments 46.00 1% 1.65 0% 1.65 0% 138.65 3%
41.65 1%
III. Accounts receivable 561.04 16% 98.58 2% 169.26 4% 350.57 8%
284.85 6%
IV. Inventories 183.70 5% 214.84 5% 332.42 8% 234.00 6%
213.61 5%
V. Other current assets 3.82 0% 17.38 0% 1.33 0% 17.51 0%
26.34 1%
LONG-TERM ASSETS 2,648.71 76% 3,693.22 90% 3,494.44 81% 3,266.05 78%
3,190.58 70%
I. Fixed assets 1,380.57 39% 2,459.01 60% 2,253.86 52% 1,932.65 46%
1,660.81 36%
II. Long-term investments 1,064.16 30% 1,060.51 26% 990.60 23% 1,087.21 26%
1,353.16 30%
III. Other long-term assets 203.13 6% 173.70 4% 249.98 6% 246.19 6%
176.61 4%
A - TOTAL ASSETS 3,495.87 100% 4,082.38 100% 4,338.28 100% 4,177.45 100%
4,559.28 100%
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Analysis Financial Report - HabecoHABECO
BALANCE SHEET 2008 % 2009 % 2010 % 2011 % 2012 %
B - TOTAL LIABILITIES 997.99 29% 1,494.39 37% 1,218.06 28% 781.31 19% 842.57 18%
I. Current liabilities 433.43 12% 971.81 24% 674.94 16% 376.43 9% 547.87 12%
1 Short-term debts and loans -
112.57 3% - 0%
-
54.75 1%
2 Payable to suppliers 33.80 1% 423.48 10% 263.18 6% 168.74 4% 110.54 2%
II. Long-term liabilities 564.56 16% 522.57 13% 543.12 13% 404.88 10% 294.70 6%
1Long-term accounts payable to suppliers
-
- 103.40 2% 203.76 5% 226.81 5%
2 Long-term debts and loans 545.48 16% 510.26 12% 188.90 4% 189.69 5% 67.89 1%
C - TOTAL OWNER'S EQUITY 2,497.87 71% 2,588.00 63% 3,120.21 72% 3,396.14 81% 3,716.71 82%
I. Owner's equity 2,500.00 72% 2,585.58 63% 3,117.80 72% 3,396.14 81% 3,716.71 82%
1 Capital 2,318.00 66% 2,318.00 57% 2,318.00 53% 2,318.00 55% 2,318.00 51%
2Investment and development fund
-
2.64 0% 13.04 0% 302.84 7% 518.10 11%
3 Financial reserved fund -
16.14 0% 45.35 1% 118.79 3% 183.08 4%
4 Retained earnings 182.00 5% 248.79 6% 741.41 17% 656.51 16% 697.53 15%
II. Other sources and funds (2.12) 0% 2.42 0% 2.41 0%
-
-
D -TOTAL LIABILITIES AND OWNER'S EQUITY
3,495.87 100% 4,082.38 100% 4,338.28 100% 4,177.45 100% 4,559.28 100%
Comparision of Liquidity
(unit: $)
Quick ratio Current ratio
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Comparision of Efficiency ratios
(unit: $)
Total assets Total assets turnover
Comparision of Efficiency ratios
(unit: $)
Account Receivable Turnover
Days’ in Accounts Receivable
(unit: $)
Inventories turnover Days Sales Inventories
Comparision of Efficiency ratios
Comparision of Profitability
13
Comparision of Profitability
(unit: $)
Return on AssetReturn on Equity
14
Comparision of Debt & Financial Leverage
(unit: $)
Debt to AssetsDebt to Equity ratio
15
Comparision of Market value
16
Recommendations
17
L/O/G/O
Group 5 Ben 8 – K4
Thank You!
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