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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Nestlé    NESN   CH0038863350


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Nestle : Nestlé leading the way in tax compliance practices

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11/05/2018 | 12:15am EDT

Nestlé Vietnam, a leading nutrition, health and wellness company, has picked up yet ­another accolade from a local administration, attesting to the company’s long-term investment and development commitment in the Vietnamese market.

For six straight years Nestlé Vietnam has received plaudits for its business performance

Nestlé Vietnam, part of Swiss-based Nestle SA- one of the world’s largest food and beverage companies - last week received a certificate of merit from the Dong Nai People’s Committee for excellent tax compliance in 2017.

This was the sixth consecutive year the company championed the award for good tax adherence practices. This time, it was one of 203 individuals and corporate entities receiving the prestigious accolade for their significant contributions to the tax sector in particular, and for provincial development generally.

The repeated honour is a testament to Nestlé Vietnam’s commitment to business transparency and law compliance, on its development journey in the Vietnamese market.

The award marks another milestone in the company’s development this year. In July, the company received a certificate of merit from the Dong Nai People’s Committee for outstanding production and business performance, tax contribution and philanthropic activities, helping to ensure stable employment for the labourers in the province. Then in August, the company made it onto the list of the top 100 tax contributors in Vietnam during 2016 and 2017, as announced by the Ministry of Finance.

Most recently, on October 4 the company was awarded another certificate of merit from the Ministry of Planning and Investment for excellent performance among foreign-invested enterprises on the occasion of Vietnam commemorating 30 years of foreign direct investment attraction in the country.

At the ceremony when Nestle Vietnam’s tax compliance was praised on October 26, Nguyen Quoc Hung, Deputy Chairman of the Dong Nai People’s Committee, applauded efforts of businesses and trading households for state financial obligations fulfilment, and called on them to continue making positive contributions towards provincial and national development.

To mark the occasion, Nestlé Vietnam CEO Ganesan Ampalavanar thanked the active support the company has received during its past 23-year development in Vietnam and hoped for continued support from Vietnamese authorised agencies in their upcoming development journey. “Nestlé is committed to our purpose of enhancing quality of life and contributing to a healthier future. We enable healthier and happier lives, drawing on more than 150 years of passion for nutrition, with popular brands such as MILO, Nescafe, Maggi, Nestea, Nesvita and NAN,” Ampalavanar stressed.

That journey in Vietnam dates back to 1995 through opening the first production plant in Dong Nai. Over the past two decades, the company has been constantly expanding production as well as growing investment in the province.

Nestlé currently operates three production facilities in Dong Nai, of which two plants producing instant NESCAFÉ and MILO are based in Amata Industrial Park (IP) and another plant producing NESCAFÉ, NESTEA, MAGGI, and MILO powder in Bien Hoa 2 IP.

In July this year, the company inaugurated a new Nescafé Dolce Gusto capsule production line in Tri An Factory in Dong Nai. It is planned to process around 2,500 tonnes of quality coffee per year, using high quality coffee beans from Vietnam, and the volume is expected to increase in the coming years.

In the northern region, the company’s Bong Sen plant in Hung Yen province has turned out instant MILO products since last year.

Nestlé Vietnam has a strong contingent of more than 2,300 employees and developed an expansive agent network across the country. Wherever it operates, the company always strives for ‘improved quality of life and healthier future’ of Vietnamese people.

(c) 2018 Vietnam Investment Review Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (CHF)
Sales 2019 95 315 M
EBIT 2019 16 500 M
Net income 2019 11 323 M
Debt 2019 33 761 M
Yield 2019 2,70%
P/E ratio 2019 24,87
P/E ratio 2020 22,16
EV / Sales 2019 3,48x
EV / Sales 2020 3,33x
Capitalization 298 B
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Average target price 99,4  CHF
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Ulf Mark Schneider Chief Executive Officer & Director
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Paul Bulcke Chairman
Magdi Batato Executive Vice President-Operations
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