Masan achieved revenue of more than 57,000 billion VND after 9 months

On October 30, Masan Group Corporation announced its business results with net revenue for the first 9 months of 2023 reaching VND57,470 billion, up 3.5% over the same period last year. Net profit before distribution to minority shareholders was VND1,353 billion, down 65.8% over the same period last year.

As of the end of September 2023, Masan's cash balance reached VND14,258 billion. In addition, free cash flow has been continuously improved over many quarters, reaching VND2,202 billion in Q3/2023 compared to only VND125 billion in Q3/2022.

Masan Group still records revenue growth in the first 9 months of 2023

Masan's consumer business segment, including WinCommerce, Masan Consumer Holdings, Masan MEATLife and Phuc Long Heritage, recorded a 45.5% increase in EBT in the first nine months of 2023 and a 47.3% increase in Q3 2023 compared to the same period last year. Specifically, WinCommerce is close to breaking even before interest and tax for the first time since the Covid-19 pandemic. Net revenue increased by 2.1% in the first nine months of 2023 thanks to the opening of 245 new mini supermarkets (WinMart+) and 2 supermarkets (WinMart). As of the end of September, the WinCommerce chain had 3,586 points of sale nationwide.

Masan Consumer Holdings' net revenue reached VND20,376 billion after 9 months, up 10.5% over the same period last year. The product lines with outstanding business results were spices, convenience foods, and personal and family care products. Or for Masan MEATLife, revenue after 9 months increased by 61.1% thanks to strong sales growth in most product segments, especially processed meat with an outstanding increase of 35.9%. Profit margin in the last quarter was higher thanks to the significant improvement in gross profit margin of farm pigs and farm chickens. The main reason for this growth came from high pork and broiler prices in the third quarter of 2023, which were also higher than the first half of 2023.

Meanwhile, the Phuc Long store system also improved its profitability by rationally restructuring the number of kiosks. The profit margin before interest and tax improved to 20.8% in the third quarter of 2023 compared to 17% in the second quarter of 2023. In the third quarter of 2023, Phuc Long opened 6 new points of sale...

In the context of economic difficulties, Masan is a rare company in the market that has successfully attracted foreign investment capital in recent times. Bain Capital's equity investment in Masan Group may increase to 500 million USD. The proceeds from this transaction will help reduce financial leverage, optimizing the company's balance sheet. This is purely an equity investment transaction, without a price hedging structure or borrowing MSN shares, leading to the sale of MSN shares to the market on the issuance date. The structure of the above investment is designed to ensure the interests of MSN's existing shareholders.

Similarly, SK Group is a long-term partner of Masan Group. In that spirit, for SK Group’s equity stake in Masan, the two parties have agreed to work together to implement a multi-year roadmap to maximize value for shareholders of both companies.

Source link: https://thanhnien.vn/masan-dat-doanh-thu-hon-57000-ti-dong-sau-9-thang-185231030144655314.htm