Despite difficult market, Masan continues growth momentum

According to the financial report for the first half of this year of Masan Group Corporation, net revenue reached VND 37,315 billion, up 3.6% compared to VND 36,023 billion in the first half of 2022. Revenue from most activities increased. However, Masan's after-tax profit only reached VND 868 billion, down 72% compared to the same period last year.

Of which, The CrownX (TCX)'s revenue reached VND26,835 billion, up 3.1% year-on-year. TCX's EBITDA (earnings before interest, taxes, depreciation and amortization) reached VND3,507 billion, up 10.3% and 28.3% year-on-year.

Masan MeatLife's meat products have strong revenue growth

For WinCommerce (WCM), net revenue reached VND14,517 billion, up 1.5% year-on-year. WCM opened 152 new WinMart+ stores and 2 new WinMart supermarkets in the first 6 months of 2023, bringing the total number of points of sale to 3,511 nationwide for both mini-supermarkets and supermarkets. 106 WIN stores achieved sales growth of 4% year-on-year. WCM's gross profit margin improved to 24.8% in the second quarter of 2023.

In addition, Masan Consumer's (MCH) net revenue recorded a growth of 4.7% to VND12,940 billion in the first half of 2023 compared to the same period last year. The spices, convenience foods, and personal and family care products (HPC) categories recorded growth rates of 21.3%, 7.8%, and 52.1% respectively in the first 6 months of 2023 compared to the same period last year. In the second quarter of 2023 alone, these categories recorded revenue growth rates of 29.8%, 24.6%, and 73.6% respectively compared to the same period last year.

Highlighting higher revenue across all product segments and boosting its processed meat business, Masan MeatLife (MML) achieved revenue of VND3,303 billion in the first 6 months of 2023, up year-on-year. The company has narrowed the price gap with traditional markets through an exclusive price program for WIN members for branded meat products.

Phuc Long store chain alone recorded a 4.6% decrease in revenue compared to the same period last year with slower opening of new stores in the context of difficulties in the F&B retail industry...

Masan said it will continue to actively seek alternative solutions in the capital market to extend debt, improve interest rates, and increase profits through reducing financial leverage. " Meeting the myriad needs of consumers has always been the guiding principle for our actions. Consumers are beginning to recognize and reward us for our consumer-centric innovations such as membership programs, retail models, and FMCG products. I am confident that the "tailwinds" of the second half of this year will be a solid foundation, bringing breakthrough growth for 2024," added Mr. Nguyen Dang Quang, Chairman of Masan Group.

Source: https://thanhnien.vn/bat-chap-thi-truong-kho-khan-masan-van-tiep-tuc-da-tang-truong-185230728150252552.htm