The company’s growth was driven by a rebound in the domestic segment and the continued stability of its international business. Vinamilk’s gross profit margin for the second quarter of 2025 reached 42.0%, up 170 basis points from the previous quarter thanks to improved sales scale. Cumulatively for the first half of 2025, this margin stood at 41.2%. Consolidated post-tax profit for the second quarter reached 2.489 trillion VND (94.4 million USD), while the six-month figure amounted to 4.076 trillion VND (154.6 million USD), achieving 42.1% of the annual target. Earnings per share reached 1,720 VND.
The domestic segment posted net revenue of 13.614 trillion VND (517.4 million USD), up 82 billion VND (3.1 million USD) year on year. These results stem from more effective distribution, marketing and digital transformation efforts. Additionally, rising consumer confidence in reputable dairy products has contributed to the upward momentum.
Meanwhile, overseas net revenue reached 3.111 trillion VND (118 million USD), equivalent to that of the same period last year. For the first six months of 2025, consolidated revenue totalled 29.710 trillion VND (1.1 billion USD), completing 46.1% of the annual plan. Domestic and international net revenue stood at 23.624 trillion VND (896 million USD) and 6.035 trillion VND (228.9 million USD), respectively.
Vinamilk CEO Mai Kieu Lien said: “Although the second quarter of 2025 was marked by significant macroeconomic fluctuations both at home and abroad, Vinamilk demonstrated strong adaptability by restoring domestic growth while maintaining export expansion, thereby lifting consolidated revenue to a new record high. We expect further growth in the remaining six months of 2025, aiming to achieve the highest possible fulfilment of the business plan approved by the General Meeting of Shareholders.”
In terms of exports, Vinamilk reported a record result in the second quarter with net export revenue of 1.887 trillion VND (71.6 million USD), up 8.5% year on year and marking the eighth consecutive quarter of positive growth. In traditional markets, the company has been gradually premiumising its product portfolio based on its strengths in the mainstream segment to enhance export value and brand positioning.
In high-end markets, Vinamilk recorded encouraging signs with double-digit revenue growth, contributing significantly to the overall increase. Notably, Vinamilk has become a pioneering Vietnamese enterprise licensed to export its Ngoi Sao Phuong Nam condensed milk brand to China, opening new growth potential in Asia’s largest consumer market.
In addition, the company continues to allocate substantial resources to developing new markets through more than 40 B2B networking events and international trade fairs in the first half of the year. These efforts have helped Vinamilk expand its cumulative export footprint to 65 markets. For the first six months of 2025, net export revenue reached 3.507 trillion VND (133 million USD), up 15.5% year on year. Net revenue from the company’s overseas subsidiaries in the second quarter reached 1.223 trillion VND (46.4 million USD), bringing the six-month total to 2.528 trillion VND (96 million USD).
In the first six months of 2025, Vinamilk continued to accelerate research and development activities, introducing more than 70 new and relaunched products. These offerings demonstrate significant progress in innovation by Viet Nam’s leading dairy company. The products have been developed to capture current consumer trends such as high-protein milk, plant-based milk, immune-boosting nutrition, products offering exciting experiences for younger consumers, and specialised nutritional solutions for the elderly.
In addition, a series of Vinamilk stores have been “revamped” under the new brand identity, greatly supporting product showcasing and direct engagement with consumers.
According to the “Brand Footprint 2025” report published by Kantar in June 2025, Vinamilk remains the most purchased dairy brand for the 13th consecutive year thanks to its comprehensive innovation strategy and consumer engagement approach, particularly regarding younger generations. Brands such as Ong Tho, Ngoi Sao Phuong Nam, Probi, and Susu also ranked among the top 10 most chosen dairy brands, while Vinamilk Green Farm was recognised as the standout brand of the year.
Vinamilk continues to be the only Vietnamese dairy enterprise to make the Fortune 500 Southeast Asia 2025 ranking for the second consecutive year, as announced by leading US business magazine Fortune in mid-June.
On the international stage, Vinamilk recently became the sole Vietnamese representative invited to share insights at the 18th Global Dairy Congress 2025 held in the Netherlands. The company made a strong impression, demonstrating that Vietnamese dairy is on par with global standards in the application of science and technology in innovation. It also captured two major categories at the World Dairy Innovation Awards 2025: Best Yogurt (for Vinamilk Green Farm high-protein Greek-style yogurt) and Best Packaging Design (for Vinamilk’s plant-based yogurt).
As the first and only Vietnamese speaker at the Growth Asia Summit 2025, Vinamilk presented its breakthrough 6-HMO formula — a milk formula that sets an international nutritional benchmark for infant formula.
These achievements affirm the strategy pursued by the Vietnamese dairy brand, ranked sixth globally in brand value, of “investing in science and technology to maximise the natural nutritional value of milk.”
The company continues to maintain its 2025 targets, with total revenue expected to reach 64.506 trillion VND (2.4 billion USD), up 4.3% from 2024, and post-tax profit projected at 9.680 trillion VND (367 billion USD), up 2.4% from 2024.
