Which milk tea chain reported profits of thousands of billions of dong?

Masan Group, chaired by billionaire Nguyen Dang Quang, has just revealed its Q4 2024 and full-year business results. Notably, the Phuc Long bubble tea chain alone generated thousands of billions of VND in gross profit.

Many young people line up to buy bubble tea made from Vietnamese agricultural products - Photo: TTO

According to Masan Group's (stock code MSN) financial report just released, the company achieved nearly VND 22,700 billion in revenue in the fourth quarter of 2024 alone. For the entire year, this figure rose to nearly VND 83,200 billion.

After deducting the cost of goods sold and various expenses, the company retained over 690 billion VND in profit in the last quarter of the year, nearly 14 times higher than the same period last year. Full-year profit reached 200% of the baseline scenario target.

Phuc Long bubble tea company's gross profit reached thousands of billions of VND.

As a major player in the consumer retail business in Vietnam, Masan Group operates numerous different subsidiaries.

Notably, the Phuc Long Heritage bubble tea chain alone generated over 1,620 billion VND in revenue and over 1,060 billion VND in gross profit last year. This represents increases of 6% and 7% respectively compared to the same period last year.

A notable point is that over the past year, the chain has continuously opened dozens of new stores, as well as renovated many existing ones to attract customers, especially young people.

It can be seen that the development of Phuc Long and some other large beverage chains in the market is contributing to boosting the output of many agricultural products such as tea, coffee, lychee, pomelo, lemon, honey, etc.

In 2025, Masan projects that the Phuc Long chain will achieve sales of 1,910 - 2,200 billion VND, an increase of 18-36%. To achieve this, the company must innovate its brand, attract existing and new customers, and increase promotions...

Masan increased revenue thanks to its strategy of "upgrading" instant noodles, soy sauce, coffee, and other products.

Among the subsidiaries of the conglomerate led by billionaire Nguyen Dang Quang, Masan Consumer (producing Omachi instant noodles, Chin-su soy sauce, Vinacafé, etc.) is listed on the stock exchange under the ticker symbol MCH.

In summary, for the fourth quarter and the entire year of 2024, Masan Consumer achieved revenues of over VND 8,940 billion and nearly VND 30,900 billion respectively, a significant increase compared to the same period last year. This was thanks to the premiumization strategy in the convenience food and condiment sectors, and the innovation in the beverage line. Notably, international revenue alone increased by more than 22% compared to the same period last year.

To facilitate sales in the Vietnamese market, WinCommerce has been assigned by the group to operate the WIN, Winmart, Winmart+ retail chain of stores and supermarkets, with a total of 3,828 stores by the end of 2024.

Sales outlets have appeared in both urban and rural areas. This has helped achieve revenues of nearly VND 8,560 billion (+12%) and nearly VND 32,970 billion (+10%) across the entire network in the last quarter and the whole year, respectively.

In addition, Masan's business results were also significantly contributed by another subsidiary in the agricultural sector - Masan MEATLife (chilled meat), with revenue exceeding VND 2,200 billion (+24%) in the last quarter, bringing the total for the year to VND 7,650 billion (+10%).

Sales from fresh and processed meat increased significantly, while revenue from the farm channel decreased slightly. This development indicates the company is implementing a restructuring strategy for its farm segment. Over the past year, the fresh pork segment alone recorded a 26% increase in daily sales per WCM store compared to the same period last year.

We want to increase the export of Vietnamese agricultural products to the US, South Korea, and other countries.

Masan's business landscape also includes Masan High-Tech Materials (an integrated producer of minerals and industrial chemicals), with revenue of nearly VND 14,340 billion last year.

Another notable development is that Techcombank , an affiliate of Masan, contributed VND 732 billion to EBITDA (earnings before interest, depreciation, and income tax) in the last quarter of the year. This resulted in a decrease of VND 288 billion in profit, as the bank recorded a one-time expense upon terminating its contract with insurance company Manulife.

In 2025, Masan aims for revenue ranging from VND 80,000 to VND 85,000 billion. Several strategic priorities have also been outlined, including: focusing on increasing profitability in its core retail consumer business, applying technology throughout the company, further reducing financial leverage, and reducing ownership in non-core segments.

Simultaneously, they are increasing sales from spices, convenience foods, and instant coffee in the US, South Korea, Japan, and EU markets.

At the end of last year, Masan Group had over VND 19,220 billion in cash and cash equivalents (+14%). Total assets reached nearly VND 147,600 billion. Borrowings decreased to nearly VND 65,550 billion. Equity was over VND 40,750 billion.

Source: https://tuoitre.vn/chuoi-tra-sua-nao-bao-lai-ngan-ti-dong-20250124114948238.htm