MESSAGE
FROM BOD CHAIRWOMAN
With the key message “Comprehensive technology - Value sharing”, TTC Bien Hoa has increased thorough technology incorporation in governance, operation, anticipating customers’ demand and developing a seamless ecosystem of products and services, as the foundation to define the Company’s competitive advantages in the marketplace, especially in the international arena. Simultaneously, TTC Bien Hoa will focus on expanding and completing the Sugarcane value chain based on sustainable development to provide the market with Green energy solutions from Clean production.
12
COMPREHENSIVE TECHNOLOGY - VALUE SHARING
TTC BIEN HOA
2020-2021 ANNUAL REPORT
MESSAGE FROM BOD CHAIRWOMAN CONTINUED
Dear esteemed Shareholders, Investors, Farmers, Customers, and Partners,
Mrs. Huynh Bich Ngoc - Chairwoman of the Board of Directors of TTC Bien Hoa
F
Y 2020-2021 is an unforgettable year for the Vietnam Sugar Industry in general and TTC Bien Hoa in particular,
as from January 1
st
, 2020, Vietnam has ocially implemented the ASEAN Trade in Goods Agreement-ATIGA
commitments, along with critical changes in industry policy. Additionally, the unprecedented COVID-19
pandemic, which has impacted every corner of the globe, has had a detrimental eect on various facets of the
Company’s business.
In such circumstances, under the BOD’s sound strategies and the BOM and staff’s relentless
efforts, TTC Bien Hoa concluded FY 2020-2021 with several positive achievements on multiple
aspects. Particularly, TTC Bien Hoa turned challenges into opportunities through proactive
adaptation and transformation to raise the bar in the context of global integration.
In the previous year, TTC Bien Hoa continued to exceed 1 million tons of consumption output, maintaining a 46%
share of the domestic market. The Company’s after-tax prot also reached a record-breaking level at VND650 billion,
an increase of 79% compared to last year, thanks to high productivity from the core Sugar business, the rapid
growth of the export and commercial channels, and good cost management. This evidently proved TTC Bien Hoa’s
outstanding perseverance in the pursuit of the 5-year “Spread our wings” strategy in the period of 2021-2025.
13
OVERVIEW OF SBT CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
TTC BIEN HOA
CONTINUED TO EXCEED
TONS OF CONSUMPTION OUTPUT
1.160.000
On July 1
st
, 2021, Oracle Cloud ERP was successfully deployed
across TTC Bien Hoa’s 22 locations in four countries: Vietnam,
Singapore, Laos, and Cambodia, thereby achieving supply
chain optimization and nancial management eciency. This
would lay the crucial groundwork for SBT to manage risks
proactively, increase competency, and balance the interests
of Farmers, Factories, Customers, Investors, Shareholders, and
other Stakeholders to pave the way for greater ambitions,
particularly increasing domestic market share and continuing
global expansion.
After more than 2 years of thorough research, in June 2021,
TTC Bien Hoa ocially entered the beverage market with
Míaha canned sugarcane juice –100% natural product made
from Sugarcane. The introduction of canned sugarcane
juice has demonstrated the Company’s eorts in product
diversication to complete the value chain of Sugarcane, in
which provides highly nutritious products to Customers and
facilitates penetration into Vietnam’s and global dynamic
beverage markets. The goal is to drive incremental revenue
and prot to maximize the Company’s benets.
During the past scal year, TTC Bien Hoa was honored to
have its governance capacity be highly acknowledged by
reputable organizations as it achieved “Top 5 Best Corporate
Governance - HOSE’s Large-cap group”, “Top 20 HOSE’s VNSI
Index Basket”, “Top 50 Best listed companies in 2021 by Forbes
Vietnam”, along with other awards on brands and products.
Prior to that, TTC Bien Hoa’s Annual Report also won 3 major
awards: “Top 10 Best Annual Report in the world”, “Platinum
Winner Worldwide in the Agribusiness category” and “Gold
Winner Worldwide in the Consumer category” voted by the
League of American Communication Professional (LACP).
These achievements arm the Company’s commitment to
Stakeholders in information transparency, which is a high
note on TTC Bien Hoa’s journey in elevating the value and
position of Vietnamese brands in the global market.
Throughout the fourth wave of Covid-19, which was driven
by the Delta variant in the nal two months of FY 2020-2021,
TTC Bien Hoa’s top priority was always to ensure employee
health and safety, as well as maintain the supply chain of
food products to customers across the country without
interruption. TTC Bien Hoa, in particular, quickly implemented
a series of anti-epidemic measures and exible operation
including social distancing at work, remote working (work
from home), the “three-on-site” model, and COVID support
policies for employees, etc. with the goal of providing stability
and security to employees. Additionally, TTC Bien Hoa has
always carefully reassessed the situation prior to, during, and
after each outbreak in order to better prepare for a potential
pandemic in the future.
With the key message “Comprehensive technology -
Value sharing”, TTC Bien Hoa has increased thorough
technology incorporation in governance, operation,
anticipating customers’ demand and developing a seamless
ecosystem of products and services, as the foundation to dene
the Company’s competitive advantages in the marketplace,
especially in the international arena. Simultaneously, TTC Bien
Hoa will focus on expanding and completing the Sugarcane
value chain based on sustainable development to provide the
market with Green energy solutions from Clean production.
TTC Bien Hoa has completed the rst year of its ve-year
strategy, which runs from 2021 to 2025, with signicant
accomplishment. Despite the ongoing uncertainty, we are
condent that our quest to conquer the regional market will
soon be realized, owing to the BOM and sta’s proactiveness,
exibility, and ceaseless eort. On behalf of the Board of
Directors I would like to express my heartfelt appreciation to
our esteemed Shareholders, Investors, Farmers, Customers,
and Partners. I look forward to your continued support in
the years ahead for TTC Bien Hoa and Vietnam’s agriculture
industry to enhance its presence on a global scale.
May I wish our esteemed Shareholders, Investors, Farmers,
Customers, and Partners a year full of health, happiness, and
success.
Huynh Bich Ngoc
Chairwoman of the Board of Directors of TTC Bien Hoa
VND650BILLION
AN INCREASE OF 79% COMPARED TO LAST YEAR
THE COMPANY’S AFTER-TAX PROFIT
ALSO REACHED A RECORD-BREAKING LEVEL AT
MESSAGE
FROM BOD VICE CHAIRWOMAN
14
COMPREHENSIVE TECHNOLOGY - VALUE SHARING
TTC BIEN HOA
2020-2021 ANNUAL REPORT
In the face of ever-changing challenges
presented by the Covid-19 pandemic,
businesses have to build their internal
strength and suitable development
strategies to increase resilience and adapt
to a ‘new normal’ and maintain growth.
I wish at the outset to sincerely thank
the Shareholders, Investors, Farmers,
Customers, and Partners who have always
been a trusted companion of TTC Bien Hoa
during the past time.
A
s a leading agricultural enterprise in Vietnam with
more than 50 years of developing business revolving
around the Sugarcane, TTC Bien Hoa owns more
than 66 thousand hectares of agricultural land in Indochina,
supplying to the domestic and international market more than
1 million tons of Sugar products each year. We acknowledge
a clear message from Consumers: environmental issues are as
crucial as new products quality and safety.
ESGESG
Mrs. Dang Huynh Uc My - Vice Chairwoman of the Board of Directors of TTC Bien Hoa
OVERVIEW OF SBT CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
15
For that reason, over the years, we always stay rm on our
journey towards sustainable growth with a “green” business
strategy as our core, creating competitive edges for
propelling global-reach ambition. We focus on developing
and completing the Sugarcane value chain, transforming
our farming model into an organic one, optimizing
Sugarcane value by maximizing the utilization of by-
products, proactively carrying out researches on red-eyed
bees to use them in pest control, ensuring no PPP residues
in agricultural products, etc. All of these eorts are to
promote the development of modern agriculture in tandem
with environmental protection, adhering to ESG standards
(Environmental, Social and Corporate Governance).
Sustainable investment is currently taking the world’s main
stage as investment funds are prioritizing their capitals in
high-rated ESG companies. A survey from PwC found that
the total value of ESG funds surpassed the conventional
ones by 9% between 2010 and 2019. In addition,
companies with high ESG scores seem to have better
performance and thus attract larger funds from investors.
The fact that SBT continues to maintain its position as the
only Sugarcane company present in the VNSI20 Index Basket
- Top 20 listed companies in HOSE’s Vietnam Sustainability
Index is a signicant lever for SBT to benet from the
ESG investment trend with easier access to funding,
especially from foreign markets.
I look forward to receiving the continued support and companion from Shareholders, Investors, Farmers, Customers,
and Partners on our journey to sustainable development and global reach.
In the coming fiscal year, we aim to place further emphasis on the implementation
of ESG governance framework in all activities of the Company, which takes us one
step closer to become “Indochina’s leading solution provider of traceable and
sustainable agricultural products” - a Company that could weather any storms and
contribute to a sustainable food system. In particular, governance activities shall shift
the focus on specialized sustainability, strive for “green” financial indicators and establish
a synchronized and consistent operating system, thereby enhancing the transparency and
accuracy in information disclosure to Stakeholders.
Dang Huynh Uc My
Vice Chairwoman of the Board of Directors of TTC Bien Hoa
In the last FY, along with effective strategies
for successful domestic and international
expansion, SBT also deployed Oracle Cloud
ERP (enterprise resource planning system
that runs on cloud platform) to optimize the
supply chain, improve financial efficiency,
implement holistic technology-based
management, and better prepare for future
development in domestic and international
landscapes.
Dear valued Shareholders, Investors,
Sugarcane Growing Partners/ Farmers, Customers, and Partners,
T
he scal year 2020-2021 put both global
and Vietnamese businesses to the test as
COVID-19 is still raging, causing global
supply chain disruption and having far-reaching
eects on every aspect of the economy. Aside from
the pandemic, the slow recovery combined with
increasing competition from the ATIGA agreement
threw Vietnam’s Sugar industry into a turbulent year.
Nonetheless, TTC Bien Hoa reported a spectacular
year and demonstrated exibility and proactiveness in
the eorts to address challenges, thanks to our BOD’s
strategic direction and meticulous preparation by
the BOM and sta, backed by 50 years of experience.
TTC Bien Hoa maintained its dominant position in the
Vietnam Sugarcane industry and steadily progressed
toward its goal of becoming “Indochina’s leading
solution provider with traceable and sustainable
agricultural products”.
FY 2020-2021 ended with a bright note, with Sugar output
reaching 1,16 million tons, exceeding the plan by 10%. This is the
second consecutive year that the TTC Bien Hoa’s Sugar output has
achieved over 1 million tons. Despite erce market competition,
TTC Bien Hoa, with a market share of 46%, continued to dominate
the Vietnam Sugarcane market. In particular, our net revenue
recorded VND14,925 billion, increased 16% over the same period
and achieved 104% of the plan. Prot before tax reached over
VND784 billion, or a 53% yoy surge, reached 118% of the plan.
Prot after tax reached VND650 billion, or 79% yoy increase.
MESSAGE
FROM THE BOARD
OF MANAGEMENT
Mr. Nguyen Thanh Ngu - General Director
16
COMPREHENSIVE TECHNOLOGY - VALUE SHARING
TTC BIEN HOA
2020-2021 ANNUAL REPORT
VND 784BILLION
OR A 53% YOY SURGE
. PROFIT BEFORE TAX REACHED OVER
In terms of business operation in the domestic market,
SBT continued to penetrate the untapped retail market by
introducing branded products including Bien Hoa Sugar
packets, Co Ba Sugar, Organic Sugar, Míaha Sugarcane
canned juice, etc. SBT’s products received positive feedback
from consumers, as evidenced by a 14% increase in B2C
sales (57,000 tons) year on year. Notably, SBT also expanded
into the unbranded Sugar market with the Co Ba Sugar
In the last FY, along with eective strategies for successful
domestic and international expansion, SBT also deployed Oracle
Cloud ERP (enterprise resource planning system that runs on
cloud platform) to optimize the supply chain, improve nancial
eciency, implement holistic technology-based management,
and better prepare for future development in domestic and
international landscapes. The project was launched in August
2020, in collaboration with KPMG. After 300 days of employee
eort, Oracle Cloud ERP was implemented for all 22 business
units in four countries, including Vietnam, Singapore, Laos and
Cambodia, on July 1
st
, 2021.
In addition, SBT capped o a year of success in raising
VND3,000 billion of capital through major cooperation
with established nancial institutions at home and abroad.
The entire funds were used to nance business activities,
production capacity enhancement and market expansion.
Despite the troubling COVID-19, which has wreaked havoc
on local and global production, business and investment
activities, that SBT succeeded in raising VND3,000 billion of
capital was a testament to investors’ trust in the Company’s
capabilities and protable outlook.
product line available in 500gr, 1kg, and 12kg bags,
which were widely adopted thanks to its aordable price,
appealing design, and eco-friendly features. Moreover, SBT’s
export channels recorded a remarkable growth, with the
sales volume of nearly 349,000 tons, growing at 31% yoy,
and exceeding the plan by 57%. By increasing its product
presence in the international market, SBT established itself
as an industry leader in the region.
Technological advancements in the FY 2020-2021 and a solid
business foundation strengthened TTC Bien Hoa’s steps into
the FY 2021-2022. By taking a bold and proactive approach,
SBT expects to achieve all targets and create values for all
Stakeholders. On behalf of the board, I would like to extend my
gratitude to our valued Shareholders, Investors, Customers,
Sugarcane Growing Partners/ Farmers, and Partners for their
generous support over the years. From this point forward,
I look forward to your continued support and to
witnessing a foreseeable future in which TTC Bien Hoa, a
representative of Vietnam’s agriculture sector, emerges as a
global market leader.
NET REVENUE REACHED
14,925
VND BILLION
Nguyen Thanh Ngu
General Director
17
OVERVIEW OF SBT CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
18
COMPREHENSIVE TECHNOLOGY - VALUE SHARING
TTC BIEN HOA
2020-2021 ANNUAL REPORT
MESSAGE FROM THE BOARD OF MANAGEMENT CONTINUED
Ms. DOAN VU UYEN DUYEN
Permanent Deputy CEO
The synergy between the seasoned senior personnel and the well-trained passionate successors is the
ticket to SBT’s success today. Looking back on the past year, SBT has reaped the rst fruits of its endeavors
in nancial restructuring, reinforcement of risk management framework, and adoption of international
CG standards into operations. The long journey has nally reached a signicant milestone where the entire
SBT agricultural value chain was systematized on one technology platform – IFRS-led Oracle Fusion Cloud
available for all countries and territories we operate in, plus outstanding prot margins in the context of the
Covid-19 pandemic ravaging across economies.
We take pride in our pioneering in the comprehensive transformation from manual
to semi-automatic and automatic operations - promoting productivity, trimming
down intermediate stages as well as enhancing competitiveness of SBT and each of its
employees. Down the growth path, moreover, SBT has never ceased to renew itself in
order to enrich the experience and amplify benefits for Customers, Shareholders and
Partners presenting in SBT’s value chain.
19
OVERVIEW OF SBT CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
Mr. HUYNH VAN PHAP
Acting Deputy CEO (in charge of Division of Sales)
The global Sugar industry, after a challenging cycle, is on the
recovery route with greater growth prospects for the period of
2021-2025. In addition to good news from the international market,
Vietnam Sugar industry is bouncing back upon the eective
tax remedies on Thai Sugar imports, which would lead to other
forthcoming support policies of the government in protecting
domestic producers. This tremendously levels the playing eld for
domestic Sugar enterprises in face of increasing competition in the
region, and boosting the recovery of businesses at home.
For the forthcoming 5-year development strategy, TTC Bien Hoa is
to turn its leading advantages in Vietnam Sugar industry to good
account by expanding business activities in localities and meeting
the growing domestic consumption demand. Besides maintaining
Mr. TRAN PHAM QUANG KHUONG
Chief Information Officer
We live in an era where pervasive digitalization has profoundly
exposed businesses to higher demand for innovative approaches and
ercer competition between industries, enterprises, and economies.
To preserve competitive edges and nurture uniqueness, businesses
around the world are shifting gears toward digital transformation.
With the motto “Transformation for success”, TTC Bien Hoa has successfully implemented a far-reaching
digital transformation strategy; that is, integrating Oracle ERP Cloud, including cloud computing
technology solutions (SaaS, PaaS, IaaS), with the Internet of Things application to enhance automation
and collect real-time data from agricultural production to management. A better comprehensive
picture, as the result, significantly facilitated the strategic planning and business expansion to realize
the goals of “Smart Agriculture Factories and Models”.
Data is not only the dierentiator in TTC Bien Hoa’s digital transformation journey but also a boosting factor for sustainable
development. So far the Company has deployed Big Data on cloud computing platforms (Big Data on Cloud), applied
Articial Intelligence (AI), Machine Learning in data analysis, etc. These tools have promoted innovations of business model
and digitalization in supply chain operations while creating competitive edges for Company in the e-commerce industry and
move on top of market trends.
its dominance within the country, TTC Bien Hoa also
aims to upsize its share in the international market by
broadening export activities to Europe, the U.S, Japan,
Korea, among others. In particular, the Company pays
extra attention to develop novel product lines such as
Industrial liquid Sugar, Mix Sugar, Organic Sugar, etc.
to ace up against traditional products and conquer
demanding markets.
Additionally, as technology is bridging the geographical gap between businesses and customers,
and thus easing the connection between two ends, TTC Bien Hoa underlines technology-driven sales
and marketing activities, as well as automated omni-channel commerce. With technology being a
solid foundation, TTC Bien Hoa picks up its pace to approach domestic, international customers
and promotes marketing activities, thereby understanding and fulfilling customer needs to soon
effectively reach the Company’s goals going forward.
19
19
20
COMPREHENSIVE TECHNOLOGY - VALUE SHARING
TTC BIEN HOA
2020-2021 ANNUAL REPORT
SIGNIFICANT NUMBERS
IN FY 20202021
1.16
MILLION TONS OF SUGAR
73 11 6
CONSUMPTION OUTPUT
10% year-over-year growth
7 Organic Sugar products meet
the EU and USDA standards
SUGAR
PRODUCTS
SUGAR
BY-PRODUCT LINES
BEVERAGE PRODUCTS
650
VND BILLION
AFTER-TAX PROFIT
79% yoy increase
14,925
VND BILLION
NET REVENUE
16% year-over-year growth,
achieve 104% of the target
21
OVERVIEW OF SBT CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
RAW MATERIAL AREAS IN 3 COUNTRIES VIETNAM, LAOS, AND CAMBODIA
~66,000 HA
14
ETFS AND REPUTABLE
GLOBAL INDEXES
VNSI20
TOP 20 OF SUSTAINABLE
DEVELOPMENT INDEX
(VNSI20) - HOSE
TOP 5
BEST CORPORATE GOVERNANCE
- LARGE-CAP GROUP - HOSE
TOP 50
TOP 50 BEST LISTED COMPANIES
IN 2021 - FORBES VIETNAM
46%
MARKET SHARE
LEADING VIETNAM’S
SUGAR INDUSTRY
~
108
MILLION KWH
COMMERCIAL ELECTRICITY
EXPORTED INTO
THE NATIONAL GRID
24
+
EXPORT MARKETS
22
COMPREHENSIVE TECHNOLOGY - VALUE SHARING
TTC BIEN HOA
2020-2021 ANNUAL REPORT
TOP 10 SUSTAINABLE AND GREEN ENTERPRISES AWARD
SIGNING CEREMONY OF
“TRANSFORM SBT” BETWEEN TTC BIEN HOA AND KPMG
TOP 20 LISTED COMPANIES IN HOSE’S VNSI INDEX BASKET
TTC Bien Hoa was acknowledged by
MONRE, MOIT, and the Vietnam Environment
Administration as one of the country’s
“Top 10 Sustainable and Green
Enterprises”, which indicated the Company’s
signicant contribution to a “green” and
sustainable economy through the adoption
of technology.
7
2020
MONTH
8
2020
MONTH
“Top 10 Sustainable and
Green Enterprises” Award
On August 8
th
, 2020, TTC Bien Hoa entered
into a contract with KPMG Tax and Advisory
Limited (KPMG) to seek consultation on the
transition and implementation of the Oracle
Cloud ERP system. This helps the Company
to optimize the supply chain and improve
the eciency of nancial management.
Oracle Cloud ERP will be integrated into
TTC Bien Hoa’s existing systems to form a
fully integrated supply chain system.
TTC Bien Hoa and KPMG Vietnam signed a strategic
cooperation agreement on consulting the conversion
program and implementation of the Oracle Cloud ERP
The Company was awarded “Top 20 listed company in HOSE’s VNSI Index” for the fourth consecutive year. The VNSI
Index has been introduced by the Ho Chi Minh Stock Exchange (HOSE), in cooperation with the German Corporation for
International Cooperation (GIZ) and State Security Commission of Vietnam (SSC) since July, 2017.
SIGNIFICANT EVENTS IN THE FY 20202021
23
OVERVIEW OF SBT CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
The Agribusiness Talk between TTC Bien Hoa and Sugarcane Farmers took place in Tay Ninh
province on September 26th, 2020. This is the opportunity for farmers to share their thoughts,
and at the same time, for the Company to communicate their vision and strategy towards the
development of sustainable raw material areas.
“AGRIBUSINESS TALK: SUGARCANE  PRODUCTIVITY”
IN TAY NINH PROVINCE
9
2020
MONTH
TTC Bien Hoa’s leaders delivered
a talk with Sugarcane Growing
partners in Tay Ninh province
The 2019-2020 Annual General Meeting
of TTC Bien Hoa ended with great success.
The 10 issues the BOD seeked for approval
of AGM were adopted with high voting
rates.
10
2020
MONTH
20192020 ANNUAL GENERAL MEETING
The 2019 - 2020 AGM of
TTC Bien Hoa
24
COMPREHENSIVE TECHNOLOGY - VALUE SHARING
TTC BIEN HOA
2020-2021 ANNUAL REPORT
“TOP 5 BEST CORPORATE GOVERNANCE” AWARD
TTC Bien Hoa was honored in Top 5
Best Corporate Governance of 2020 -
Large Cap Group at the Conference of
Listed Companies and the Awards Ceremony
of the 2020 Listed Companies Voting
Award held by the Ho Chi Minh City Stock
Exchange (HOSE), Hanoi Stock Exchange
(HNX), Securities Investment Newspaper and
Dragon Capital Company.
Mrs. Huynh Bich Ngoc at the 2020 Listed
Company Conference and Vietnam Listed
Company Award
“VIETNAM’S TOP 50 LEADING BRANDS IN 2020” AWARD BY FORBES VIETNAM
TTC Bien Hoa continued to be named in
Vietnam’s Top 50 leading brands, which
was announced for the fth time by Forbes
Vietnam. This is the second consecutive
time for the Company to be recognized
for its eort in maximizing the Sugarcane
value and providing top comprehensive
and sustainable agricultural solutions in the
Indochina region.
Mrs. Huynh Bich Ngoc at the
“2020 Top 50 Vietnamese leading brands”
Award by Forbes Vietnam
SIGNING CEREMONY OF STRATEGIC COOPERATION BETWEEN TTC BIEN HOA
AND CARGILL ON AGRICULTURAL VALUE CHAIN EXPANSION
TTC Bien Hoa and Cargill, the US’s leading
private company with 155 years experience
on agricultural products and solutions,
entered into a strategic cooperation
agreement. In particular, Cargill will assist
TTC Bien Hoa in developing a modern,
eective pig farming method with an
industrial scale of 3,000 sows and 36,000
hogs in Tay Ninh province.
Representatives of TTC Bien Hoa and Cargilla
signed an agreement on strategic cooperation
SIGNIFICANT EVENTS IN THE FY 20202021 CONTINUED
12
2020
MONTH
25
OVERVIEW OF SBT CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
SBT CONTINUED TO BE THE SOLE SUGARCANE COMPANY
IN VN30 INDEX BASKET IN JANUARY 2021
TOP 10 BEST ANNUAL REPORT WORLDWIDE IN 2020
“TRANSFORM SBT” KICKOFF
On January 18
th
, 2021, the HOSE announced
the lists of VN30, VNDiamond, and VNFinLead
after January’s review period. Despite facing
strong competition from other rising stock
in the market, SBT remained as the sole
Sugarcane company in the VN30 Index.
TTC Bien Hoa and KPMG Vietnam launched
the Oracle Cloud ERP project
TTC Bien Hoa won the Top 10 Best Annual
Report Worldwide Award at the “Vision
Awards - Top 100 Reports Worldwide”
Competition organized by the League of
American Communication Professionals
(LACP) in February 2021. For the rst time
ever, SBT was awarded Platinum Winner
Worldwide in the Agribusiness category and
Gold Winner Worldwide in the Consumer
category.
Top 10 best annual report worldwide in 2020 -LACP
TTC Bien Hoa, in collaboration with KPMG
Vietnam, launched Vietnam’s largest Oracle
Cloud ERP roll-out in recent years. This is also
the country’s rst IFRS-led Oracle Cloud ERP
project. The new ERP system will help SBT
enhancement management capacity, while
keeping the Company abreast of the latest
digital transformation trends in the world.
1
2021
MONTH
2
2021
MONTH
3
2021
MONTH
26
COMPREHENSIVE TECHNOLOGY - VALUE SHARING
TTC BIEN HOA
2020-2021 ANNUAL REPORT
TTC Bien Hoa proudly received a “Top 10
Asia - Pacic Outstanding Brand” Award,
organized for the seventh time by Asia-Pacic
Economic Review. The aim of the award is
to acknowledge enterprise’s technology
adoption in business, which caters to the
consumer’s needs, and thus fosters better
global integration for the national economy.
TOP 10 ASIA  PACIFIC OUTSTANDING BRAND
TTC Bien Hoa’s Representatives at
the “Top 10 Asia - Pacic Outstanding Brand” Award
MR. LE MINH HOAN, NEW MINISTER OF AGRICULTURE AND RURAL DEVELOPMENT,
VISITED THANH LONG 1 FARM
The Minister of Agriculture and Rural
Development Le Minh Hoan and his
delegation visited large-scale agricultural
projects in Tay Ninh province, including
Thanh Long Farm. The Minister highly
appreciated TTC Bien Hoa’s contribution and
looked forward to the Company’s further
achievements in the agricultural value chain.
Mr. Le Minh Hoan, New Minister of Agriculture
and Rural Development, visited Thanh Long 1 Farm
AGRICULTURAL CUSTOMERS ENDOFSEASON MEETING IN FY 20202021
The meeting was held to celebrate a fruitful
crop year 2020-2021 for both TTC Bien
Hoa and our Agricultural customers. The
restoration plan of Tay Ninh’s 16,000 hectares
of raw material area in the period of 2020-
2021 and 2021-2022 was 87% completed
and soon to be achieved in close cooperation
with Customers. At the event, TTC Bien Hoa
also prepared gifts as encouragement for
Customers with good performance.
FY 2020-2021 Agricultural customers
appreciation party
SIGNIFICANT EVENTS IN THE FY 20202021 CONTINUED
4
2021
MONTH
27
OVERVIEW OF SBT CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
2021 TOP 50 BEST LISTED COMPANIES BY FORBES VIETNAM
TTC Bien Hoa was ranked among the
Top 50 Best Listed Companies by
Forbes Vietnam. In the FY 2020-2021,
TTC Bien Hoa, was able to make impressive
progress despite the negative impacts
of COVID-19 situation, unfavorable
weather conditions and epidemics on the
Sugar industry.
2021 Top 50 Best Listed Companies
- Forbes Vietnam
Go-live of Oracle Cloud ERP
GOLIVE OF ORACLE CLOUD ERP
On July 1
st
, 2021, TTC Bien Hoa ocially went live the Oracle Cloud ERP
system for all 22 SBT units located in four countries: Vietnam, Singapore,
Laos, and Cambodia. This digital transformation will assist SBT in
transforming its operating model, streamlining processes, and digitizing
its operations, with the goal of becoming a market leader in Vietnam’s
smart agriculture development.
6
2021
MONTH
28
COMPREHENSIVE TECHNOLOGY - VALUE SHARING
TTC BIEN HOA
2020-2021 ANNUAL REPORT
PROFITABILITY INDICATORS ASSETS AND CAPITAL SOURCES
FINANCIAL HIGHLIGHTS
FROM FY 2016-2017 TO FY 2020-2021
5,000
10,000
15,000
20,000
25,000
7,74 8
17,694
16,743
17,956
20,471
2016/17 2017/18 2018/19 2019/20 2020/21
CAGR: 27%
TOTAL ASSETS
UNIT: BILLION VND
20,471
BILLION VND
2,000
4,000
6,000
8,000
10,000
12,000
14,000
18,000
16,000
4,498
10,285
10,857
12,889
14,925
2016/17 2017/18 2018/19 2019/20 2020/21
CAGR: 35%
NET REVENUE UNIT: BILLION VND
14,925
BILLION VND
2016/17 2017/18 2018/19 2019/20 2020/21
4,000
3,000
2,000
1,000
5,000
6,000
7,000
9,000
8,000
3,061
6,098
5,819
7,642
8,238
CAGR: 28%
OWNER’S EQUITY
UNIT: BILLION VND
8,238
BILLION VND
2016/17 2017/18 2018/19 2019/20 2020/21
400
800
600
200
1,800
1,600
1,400
1,200
1,200
1,000
2,000
203
1,005
1,000
1,823
CAGR: 73%
325
CASH AND CASH EQUIVALENTS
UNIT: BILLION VND
1,823
BILLION VND
2016/17 2017/18 2018/19 2019/20 2020/21
500
2,000
1,000
3,000
2,500
1,500
4,000
3,500
1,501
1,849
1,221
3,342
CAGR:22%
2,582
LONGTERM LOANS AND
FINANCE LEASE OBLIGATIONS
UNIT: BILLION VND
3,342
BILLION VND
2016/17 2017/18 2018/19 2019/20 2020/21
400
800
1,200
1,000
600
200
1,600
1,400
566
1,127
1,1 97
1,475
CAGR: 27%
1,396
EARNINGS BEFORE INTEREST, TAXES  EBIT
UNIT: BILLION VND
1,475
BILLION VND
2016/17 2017/18 2018/19 2019/20 2020/21
500
1,000
1,500
2,000
2,500
766
1,619
2,026
1,663
1,930
CAGR: 26%
EARNINGS BEFORE INTEREST, TAXES,
DEPRECIATION, AND AMORTIZATION  EBITDA
UNIT: BILLION VND
1,930
BILLION VND
5%
10%
15%
20%
25%
17
20
15
13
13
2016/17 2017/18 2018/19 2019/20 2020/21
EBITDA MARGIN UNIT: %
14%
29
OVERVIEW OF SBT CORPORATE GOVERNANCE OPERATION THROUGHOUT THE YEAR SUSTAINABLE DEVELOPMENT REPORT FINANCIAL STATEMENTSSBT - IMPRINT OF THE YEAR
FINANCIAL SUMMARY FROM FY 2016-2017 TO FY 2020-2021
BASIC FINANCIAL INDICATOR
UNIT 2016-2017 2017-2018 2018-2019 2019-2020 2020-2021
Times
1.4
1.1
1.1
1.1
1.5
Times
0.8
0.7
0.8
0.9
1.1
Times
0.56
0.58
0.55
0.46
0.46
Times
1.42
1.69
1.57
1.07
1.14
Times
0.62
0.81
0.63
0.74
0.77
Days
152
121
123
85
82
%
17
20
15
13
13
%
13
14
10
9
10
Gross prot margin % 13 13 8 11 15
BALANCE SHEET
UNIT: Billion VND
2016-2017 2017-2018 2018-2019 2019-2020 2020-2021
Increase/
Decrease
YoY
CAGR
2016-2017
to 2020-2021
Current assets 4,415 9,813 9,794 10,031 12,577 25% 30%
Cash and cash equivalents 203 325 1,005 1000 1,823 82% 73%
Short-term investments 112 614 768 899 1,240 38% 82%
Current accounts receivables 2,068 4,715 5,036 5,447 6,219 14% 32%
Inventories 1,958 3,972 2,781 2,529 3,159 25% 13%
Other current assets 74 187 204 156 136 -13% 16%
Non-current assets 3,333 7,881 6,949 7,925 7,894 0% 24%
Long-term receivables 247 544 146 102 135 32% -14%
Fixed assets 1,442 4,698 4,352 4,180 3,923 -6% 28%
Investment properties 131 181 157 592 578 -2% 45%
Long-term assets in progress 79 134 679 341 404 18% 50%
Long-term investments 1,373 637 125 1,246 1,411 13% 1%
Other long-term assets 61 1,687 1,490 1,464 1,443 -1% 121%
TOTAL ASSSETS 7,748 17,694 16,743 17,956 20,471 14% 27%
Liabilities 4,687 11,596 10,924 10,314 12,233 19% 27%
Current liabilities 3,164 8,902 8,966 8,808 8,572 -3% 28%
Short-term loans 2,850 7,703 7,284 6,990 6,050 -13% 21%
Non-current liabilities 1,523 2,694 1,958 1,506 3,661 143% 25%
Long-term loans 1,501 2,582 1,849 1,221 3,342 174% 22%
Owner’s equity 3,061 6,098 5,819 7,642 8,238 8% 28%
TOTAL LIABILITIES AND OWNERS’ EQUITY 7,748 17,694 16,743 17,956 20,471 14% 27%
PROFIT AND LOSS
Unit: Billion VND
2016-2017 2017-2018 2018-2019 2019-2020 2020-2021
Increase/
Decrease
YoY
CAGR
2016-2017
to 2020-2021
Net revenue 4,498 10,285 10,857 12,889 14,925 16% 35%
Gross prot 556 1,326 872 1,455 2,216 52% 41%
Net operating prot 301 539 319 522 791 52% 27%
Prot before tax 310 682 422 512 784 53% 26%
Profit after tax 287 545 259 363 650 79% 23%
EBIT 566 1,396 1,127 1,197 1,475 23% 27%
EBITDA 766 2,026 1,619 1,663 1,930 16% 26%
Source: Audited Consolidated FS from FY 2016-2017 to FY 2020-2021