Masan reports soaring profits in Q3.

On October 24th, Masan Group Joint Stock Company Masan Group (stock code MSN) announced its Q3 2024 financial report. Accordingly, Masan Group's net revenue reached VND 21,487 billion, an increase of 6.6% compared to VND 20,155 billion in Q3 2023, thanks to sustainable growth from its retail consumer business segments.

The group's earnings before interest, taxes, and depreciation (EBITDA) reached VND 4,233 billion, a 13.2% increase year-on-year. Notably, net profit attributable to minority shareholders reached VND 701 billion, a 1,349.2% increase year-on-year. This positive result is the fruit of strong profitability across its retail consumer business segments and a reduction in net interest expense. Furthermore, the group incurred no costs due to exchange rate fluctuations, having hedged 100% of its long-term USD loans since the beginning of the year.

Customers shopping at WinMart supermarket

Contributing to Masan's impressive business results is its retail consumer business segment. Specifically, Masan Consumer Corporation (Masan Consumer - MCH) achieved a 10.4% year-on-year revenue growth of VND 7,987 billion thanks to its premiumization strategy implemented in the convenience food and condiment sectors, as well as innovation in the beverage, household, and personal care sectors. Consequently, the after-tax profit margin after allocation to minority shareholders reached 25.9%, an increase of 90 basis points year-on-year.

WinCommerce also recorded a 9.1% year-on-year revenue growth, reaching VND 8,603 billion across its network, primarily driven by the new WIN store models (serving urban shoppers) and WinMart+ Rural (serving rural shoppers). The traditional store model saw an 8% year-on-year growth. WinCommerce's after-tax profit reached VND 20 billion in Q3 2024, its first profit since the Covid-19 pandemic. As of September, the company operated 3,733 stores, opening 60 new stores since Q2 2024. Another company, Masan MEATLife, also recorded a VND 105 billion year-on-year increase in after-tax profit before minority shareholder allocation. This marks the third consecutive quarter that Masan MEATLife has reported positive profits since 2023...

Dr. Nguyen Dang Quang, Chairman of Masan Group, shared: "In Q3 2024, WinCommerce and Masan MEATLife achieved positive after-tax profits and were key drivers in maximizing shareholder value. This trend will accelerate further as we continue to implement strategic innovations in the medium term. Masan Consumer continues its double-digit revenue and profit growth and is entering an acceleration phase as premiumization trends, product innovation, and out-of-home consumption increase. With this momentum, I believe Masan will get closer to its optimistic after-tax profit target of VND 2,000 billion. We have been and are focusing on integrating our entire retail consumer platform, aiming for double-digit consolidated revenue and profit growth for 2025."

Source: https://thanhnien.vn/masan-bao-lai-tang-vot-trong-quy-3-185241024101015278.htm