Vietnam Expo | TTC AGRIS in the top 500 of the Fortune ranking

By Vietnam Expo On 01-07-2024 at 7:48 am

TTC AGRIS in the top 500 of the Fortune ranking - Southeast Asia

TTC AgriS is the largest agricultural representative of Vietnam by revenue featured in this ranking.

On June 23, 2024, Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS, Hose: SBT) was honoured to be among the 500 most profitable companies in Southeast Asia - Fortune 500 Southeast Asia 2024, as announced by Fortune Magazine (USA) for the first time. Notably, TTC AgriS is the largest agricultural representative of Vietnam by revenue featured in this ranking.

Fortune is renowned for its prestigious global rankings such as Fortune 500, Fortune Global 500, and Fortune Europe 500, and this marks the first time the leading American economic magazine has released a list for the Southeast Asia region - Fortune 500 Southeast Asia. According to Fortune, these 500 companies are the largest, representing a dynamic region contributing approximately $4 trillion to the global GDP and recording impressive growth rates.

This list was built by Fortune based on key criteria such as revenue and net profit of companies in 2023. Additionally, comprehensive surveys and evaluations on company size, employees, and contributions to the socio-economic context were conducted based on official, audited reports.

This year, the 500 companies in the ranking come from leading countries in the region such as Vietnam, Singapore, Thailand, Malaysia, Indonesia, Cambodia, and the Philippines. With revenues exceeding $1 billion, TTC AgriS is among the first 300 companies in the ranking and is the leading agricultural enterprise in Vietnam on this list.

TTC AgriS continues to break through, affirming its position as the Leading Multinational Agricultural Enterprise in the Region

In the 2022-2023 fiscal year, TTC AgriS achieved positive results, with net revenue surpassing the $1 billion mark for the first time, reaching VND 24,743 billion VND (~$ 1 billion), an increase of 35% compared to the same period, completing 145% of the annual plan. Sugar consumption has exceeded 1 million tons for the fourth consecutive year. Gross profit from sales and services recorded VND 2,721 billion, up 18% compared to the same period. This shift in revenue structure has confirmed that TTC AgriS is on the right track towards a comprehensive agricultural value chain, operating and developing a seamless product and service ecosystem, aiming to balance and enhance the circular agricultural value chain.

On June 17, 2024, Forbes Vietnam officially announced that TTC AgriS continues to be honored among the TOP 50 Best Listed Companies 2024. This is the 7th consecutive year that TTC AgriS has been recognized in this prestigious ranking. Previously, at the 16th Annual Global CSR & ESG Summit and Awards 2024 Conference and Award Ceremony, TTC AgriS received a series of prestigious awards as a Global CSR & ESG Exemplary Enterprise for the second consecutive year, continuing its journey to solidify its position as a multinational agricultural enterprise with sustainable development on a global scale.

Continuing the 55-year journey of service, further fostering sustainable development for global agriculture

TTC AgriS is currently a leading multinational agricultural enterprise, leading Vietnam's sugar industry with a 46% domestic market share and a presence in over 50 international export markets. It also leads the country in cross-border raw material regions, with a total area of over 71,000 hectares spanning four countries: Vietnam, Laos, Cambodia, and Australia. The product portfolio is diverse and comprehensive, including natural nutrition products with an optimized and expanded value chain of crops such as sugarcane, coconut, banana, and rice.

With the company's strategic development direction up to 2025 and vision towards 2030. The Company particularly focus on enhancing its presence in the promising global F&B market, TTC AgriS aims for a revenue target of VND 60,000 billion by 2030. This demonstrates the company's robust capabilities, continuing the journey to expand customer segments, conquer new consumer markets, and affirm the position of a leading multinational agricultural enterprise in the region.

With a core "Green" business strategy, serving as both a development foundation and a competitive advantage to ensure circular economic efficiency integrated with ESG issues, and providing the market with green energy solutions from clean production, TTC AgriS is intensifying efforts to realize the commitment to sustainable development to balance the ecosystem and environment, aiming for Net Zero by 2035, contributing to economic and social development, sharing achievements with stakeholders, and promoting the position of a modern sustainable national agriculture.