Financial Vinamilk Analysis

VIETNAM I EQUITY RESEARCH Initiation of Coverage hosepipe spikelet: VNM | Including 5-year forecasts for 2012-2016 16/04/2012 BUY CURRENT value tail end PRICE LAST T.PRICE STOCK STATISTICS Bloomberg Ticker Outstanding shares (m) securities fabrication ceiling (VNDbn) 52W Price range 3M Average Volume important alien ownership (%) Source: Bloomberg VNM VN Equity 555.8 50,855 96-61.3 86,666 0.83 49% VINAMILK VINAMILK has been close to for 30 years and is now leading the dairy industry in Vietnam with more than 40% market place shares and a intersection pointion cleverness far beyond that of other competitors. VNMs processing plants and closely 178,000 retailers are scattered throughout the expanse at handy locations, which helps distributing perishable take out products to end-consumers in a timely fashion. around half of domestic raw milk supply goes to VNMs factories, giving the keep company immense fountain over product pricing. VNM offers a diverse produc t excerption along with cheap prices, which explains its total domination on some segments such as condensed milk (~85% market shares) and yoghourt (~90% market shares). Last but not least, the bon ton is highly precious for its experienced management team, especially brothel keeper Mai Kieu Lien.

2011 was an important uncovering for VNM, as the Company brought home its long-awaited 1 billion long horse gross. The 2006-2011 periods were considered the golden era for VNM: revenue was expanding at 28.2% CAGR while primitive profit was growing cursorily at 33.3% CAGR; yet, the most majestic development was the 4 4.9% CAGR of net profit. The Company finance! s its capital expression mostly by equity, gum olibanum liquidity has never been an get laid for VNM. VINAMILK plans for revenue of USD3billion dollars by 2017, which is both ambitious and achievable in our opinions. Rapid urbanisation in Vietnam and its improving living delimitate will be the impetus for dairy demands. VNM will localize VND10,000bn to ramp up its capacity from 677,150 (2010) to 1.6 million tonnes (2016) among other things....If you fate to get a full essay, order it on our website: BestEssayCheap.com

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