Notably in the retail - consumer sector, Masan (HoSE: MSN) is forecast to have a profit of VND1,700 billion, up 31% over the same period. The figure could be even higher according to this enterprise's estimates thanks to sustainable growth in many business segments.
According to SSI Research, 23/42 businesses are forecast to grow in the third quarter, especially the retail, steel, seaport, and thermal power sectors will grow strongly. In particular, the report shows that Masan Group's after-tax profit in the third quarter of 2025 is estimated at VND 1,700 billion, up 31% year-on-year (YoY) and 5% compared to the previous quarter. Strong profit growth in the third quarter of 2025 is mainly supported by sustainable improvement in profits in the retail segment and tungsten prices remaining at high levels.
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| A variety of fresh domestic and imported fruits at WinMart |
According to information from Masan, in the first 9 months of 2025, the group (HOSE: MSN) is estimated to achieve profit after tax before minority interests (NPAT Pre-MI) exceeding 90% compared to the full-year base scenario profit plan. This positive result is clearly reflected in the company's core business segments."
In Masan's retail segment, in the first 8 months of the year, WinCommerce (owner of the WinMart/WinMart+/WiN chain) led growth with a new opening strategy that was right and on target, helping to earn more than VND25,000 billion, up 16.1% over the same period and far exceeding the annual growth plan. In August alone, revenue reached VND3,573 billion, up 24.2% over the same period. The effectiveness of modern retail models in rural areas is increasingly evident.
Masan MEATLife (MML) stabilizes revenue and makes a breakthrough in profit. In August 2025, MML achieved revenue and net profit of VND 999 billion (up 11.1% YoY) and VND 35 billion (up 60.5% YoY), respectively.
Along with the recovery of the consumer sector, many business segments that were never considered growth drivers have now made positive contributions to this enterprise. Phuc Long entered the growth trajectory with positive signs after restructuring its operating model, focusing on high-efficiency stores in Hanoi and Ho Chi Minh City. Masan Hi-Tech Materials (UpCom: MSR) is expected to continue to benefit from the global demand for high-tech materials.
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| Consumers shop for vegetables and fruits at WinMart supermarket |
Particularly, Masan Consumer (MCH) pillar has slightly declined due to pressure from changes in distribution channels and seasonal factors in business, but the fourth quarter outlook is positive as it enters the peak consumption period.
Based on the analysis of the above-mentioned promising business segments, VCBS forecasts that in the third quarter of 2025, Masan could achieve revenue of VND21,000 billion, up 4% YoY, and profit after tax of VND1,700 billion. At the same time, optimistically predicting that the revenue for the whole year of 2025 could reach VND87,270 billion, up 5% YoY, and profit after tax of VND5,600 billion, up 31% YoY. VCBS experts also expect the target price of MSN to reach VND109,613.
BVSC forecasts MSN's full-year revenue in 2025 to reach VND85,042 billion, up 2.2% YoY, and its after-tax profit to parent company shareholders to reach VND3,501 billion, up 75.1% YoY. The 25% upward adjustment in profit forecast reflects the exceeding-expected business results of subsidiaries, especially Masan High-Tech Materials, which helps offset the decline of Masan Consumer in the first half of 2025. Notably, BVSC believes that MSN shares could reach a potential price of VND106,000/share, equivalent to a room to increase by more than 30% compared to the current price.
Overall, in addition to positive growth prospects, Masan still faces many challenges in the short and medium term. Fierce competition in the retail industry, fluctuations in raw material prices and operating costs, and compliance with new legal regulations are all factors that require businesses to proactively respond. This requires Masan to take advantage of opportunities from consumer stimulus policies while strengthening internal capacity and enhancing risk management to maintain its competitive position as the market enters a new growth phase.
The fact that Masan has completed more than 90% of its annual profit plan after only 9 months shows that the business is on track, while creating room for a breakthrough in the fourth quarter - the peak consumption season, thereby strengthening the prospect of completing and even exceeding the 2025 target.
Source: https://baodautu.vn/loat-cong-ty-chung-khoan-du-bao-msn-tang-truong-2-chu-so-trong-quy-iii-d406201.html
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