Cholimex Food in the first half of 2021 made a profit of more than 95 - Tài liệu tham khảo | Đại học Hoa Sen

Revenue In 2021
Cholimex Food in the first half of 2021 made a profit of more than 95 billion VND, up 40% over the same
period last year and completed more than half of the whole year plan. The first half of the year recorded
double-digit growth in revenue to VND 1.233 billion. The company reported a profit after tax of 95 billion
VND after deducting expenses, is an average profit of about half a billion VND per day during this period,
compared to the whole year plan of 2.500 billion VND in revenue and profit 184 billion VND, Cholimex
Food completed 49% and 52% respectively.
Revenue from 2015 to the second quarter of 2021 (source: VnExpress)
https://vnexpress.net/tuong-ot-cholimex-moi-ngay-lai-binh-quan-nua-ty-dong-4360166.html
Due to the complicated developments of the covid 19 epidemic, the company has been able to maintain
production activities continuously. The company has produced according to the motto "3 on the spot"
with the participation of about 50% of employees, the output is about 60% compared to the same
period last year, corresponding to a revenue of 540 billion VND, compared to the same period last year.
before about 90%. From October 2021 up to now, the company has quickly restored production and
business activities under "new normal" conditions.
According to the annual report dated April 15 in 2022, 2021 is a difficult year for Vietnamese businesses
due to the impact of the Covid pandemic. Against this backdrop, Cholimex Food has had a challenging
year. However, with the efforts of the whole company, they have successfully completed and exceeded
the production and business plan for 2021. Total revenue reached VND 2.513,046 billion, an increase of
11% compared to 2020 and reached 100,5% plan. Compared to 2020, pre-tax profit reached VND
232,484 billion, up 4,1% and reaching 101,1% of the plan. In the fourth quarter of 2021 alone, sales
revenue reached VND 735,545 billion.
https://cholimexfood.com.vn/wp-
content/uploads/2022/20220415_CBTT/BaoCaoThuongNien2021_Signed.pdf
Revenue and profit in 2021 (source: Cholimex Food's 2021 annual report)
Cholimex Food Company has a revenue of VND 2.500 billion, an average of nearly 7 billion per day from
chili sauce, tomato, fish sauce, soy sauce, extending the circuit to the seventh consecutive year.
Accordingly, the domestic market accounts for nearly 73% of the enterprise structure, the rest is from export.
https://vnexpress.net/hang-tuong-ot-cholimex-moi-ngay-thu-binh-quan-7-ty-dong-
4447621.html#:~:text=C%C3%B4ng%20ty%20Th%E1%BB%B1c%20ph%E1%BA%A9m%20Cholimex,m
%E1%BA%AFm%2C%20n%C6%B0%E1%BB%9Bc%20t%C6%B0%C6%A1ng... In 2022
According to the financial report for the first quarter of 2022, Cholimex's sales revenue was VND 235,5
billion, up 18,76% over the same period last year. Besides, profit from sales and service provision was
VND 170,9 billion compared to last year, up 17,6% and net profit from business activities had a high
growth rate of 23,77%, reaching VND 24,39 billion. From that, it can be seen that compared to 2021, in
the first quarter of 2022, the company has successfully completed production operations and collected a
good level of revenue. Total revenue for the first quarter was VND 688,514 billion, up 18,9%.
Business results in the first quarter of 2022 (Source: Cholimex's financial statements for the first quarter of 2022)
https://cholimexfood.com.vn/wp-
content/uploads/2022/20220420_BCTC_QI/20220420_BaoCaoTaiChinhQI.pdf
In the second quarter of 2022, revenue from sales and services continued to remain at a high level of
VND 807,2 billion compared to last year, up 24,6% and growth of 5.93% compared to the previous
quarter. Profit from sales and services reached VND 215,8 billion and continued to increase at 25,16%.
Total profit from business activities increased by 9,9% (VND 68,9 billion). Total revenue to the second
quarter was VND 1.495,726 billion, up 21,9%.
Business results in the second quarter of 2022 (Source: Cholimex's financial statements for the second quarter of 2022)
https://cholimexfood.com.vn/wp-
content/uploads/2022/20220723_BCTC_06Thang/20141222_BCTC6T.pdf
In the third quarter of 2022, the total sales revenue reached 862,9 billion VND. showed that in the third
quarter, the company was very active and also thanks to the good change in disease control as well as
the increased market demand, increasing by more than 56,8% compared to the same period last year
growth of 32,3% compared to the previous quarter. Until the third quarter of 2022, the total revenue of
2022 has reached VND 2.358,704 billion, an increase of 32,7% compared to the previous year. Profit also
increased from VND 160,8 billion last year to VND 201 billion, an increase of about 25%.
Business results in the third quarter of 2022 (Source: Cholimex's financial statements for the third quarter of 2022)
https://cholimexfood.com.vn/wp-content/uploads/2022/20221026_BCTC_QIII/20221026_BCTTQIII.pdf -
Latest sales results (2021-2022)
The outbreak of Covid-19 has pushed people towards a healthier lifestyle in terms of nutrition and food,
causing the FMCG (Fast Moving Consumer Goods) industry to have a transformation in sales channels as
well as market demand. The market increased dramatically. As a result, FMCG businesses like Cholimex
have had the opportunity to develop and reach more customers because now customers have the habit
of prioritizing shopping for everyday consumer products over other types of spending. other. According
to reports on business activities in 2021 and the first 3 quarters of 2022, Cholimex always achieves high
revenue performance. In which, in the second quarter of 2022, sales and service provision continued to
remain at a high level of VND 807.2 billion and business results in the third quarter of 2022 showed that
Cholimex achieved revenue of VND 862.979 billion, an increase of more than 6.9%.
Revenue and profit 2021-2022 (source: Cholimex Food’s financial report) - Sales target next time Revenue
According to VnExpress, Cholimex Food's revenue mainly comes from chili sauce, ketchup, fish sauce,
and soy sauce. The domestic market usually accounts for about 73% of total revenue thanks to its
coverage of about 80.000 retailers, 4000 restaurants, fast food chains and supermarkets. The remaining
revenue comes from exports to Europe, the US and Japan.
https://vnexpress.net/tuong-ot-cholimex-moi-ngay-lai-binh-quan-nua-ty-dong-4360166.html
Because chili sauce is one of cholimex's main products, we estimate sales of chili sauce will account for about 25%.
The revenue of Chili Sauce: 862,979 * 25% = 215,745 billion VND
The revenue of Chili Sauce in Vietnam in 2022: 215,745 * 73% = 157,494 billion VND
Based on, the growth rate of the previous 2 quarters 6,9% and learn about the current market situation
and demand, we estimate growth in Q4/2022 at 8%%, Q1/2023 at 10% and Q2/2023 at 12%.
The revenue in Vietnam in Q4/2022: 157,494 * 108% = 170,094 billion VND
The revenue in Vietnam in Q1/2023: 170,094 * 110% = 187,103 billion VND
The revenue in Vietnam in Q2/2023: 187,103 * 112% = 209,555 billion VND
Because of the sales plan in HCMC and by population: -
Population of Vietnam = 99.442.054 people -
Population of Ho Chi Minh City = 9.320.866 people
Therefore, we calculate the sales of Cholimex chili sauce in Ho Chi Minh City as follows:
The revenue of HCM city: 209,555 * (9.320.866 / 99.442.054) = 19,64 billion VND - Execution of sales activities Sale forces
1 box with 24 bottles: 260.000đ
Revenue for each month: 19,64 billion / 3 = 6,55 billion VND
Number of boxes to sell in each month: 6,55 billion / 260.000đ = 25.193 box
Sales target for next 3 months in HCMC KPI April May June Total (Estimated) Box 25.193 25.193 25.193 75.576 Revenue 6,55 6,55 6,55 19,65 (Billion VND) Sales target by week in HCMC KPI Week 1 Week 2 Week 3 Week 4 Total (Estimated) Box 6.298 6.298 6.298 6.298 25.192 Revenue 1,637 1,637 1,637 1,637 6,549 (Billion VND)
With revenue target for next 3 months, our team proposes a sales plan as follows:
Revenue/Expenses divided for sales force: 25%
Expenses for sales are divided into 2 groups: sales managers, salesperson with ratio 2:8
For sales management: 19,64 billion x 0.25 x 0.2 = 982 million VND
For salesperson: 19,64 billion x 0.25 x 0.8 = 3,928 billion VND
Expenses for salesperson each month: 3,928 billion / 3 = 1,309 billion VND
Rental fee for each salesperson is 10 million VND/month
Number of salesperson: 1,309 billion / 10 = 131 person
For Ho Chi Minh city, 131 salespeople are required.