Masan aims for a profit of over 4 trillion VND.

Masan Group aims for consolidated net revenue of VND 84,000 - 90,000 billion and profit of VND 2,200 - 4,020 billion, double that of 2023.

The above results are projected by the group based on different macroeconomic scenarios. Specifically, the branded consumer goods segment, Masan Consumer Holdings (MCH), is expected to generate 32,500 - 36,000 billion VND in net revenue. This segment also achieved record business results last year, with a profit margin exceeding 44.9%, reaching 7,431 billion VND in EBITDA (Earnings Before Tax, Depreciation, and Interest) for Masan. Key brands of Masan Consumer Holdings include Chin-su, Omachi, Kokomi, Vinacafe, etc.

The "Go Global" strategy is a key driver of medium- and long-term growth for MCH as the company aims to promote Vietnamese F&B culture to 8 billion consumers worldwide . Accordingly, export revenue increased to VND 1,005 billion in 2023, a 13.6% increase compared to the same period in 2022. Notably, in the US market, Chin-su chili sauce maintained its position in the top 8 best-selling products on Amazon – the number one e-commerce platform in the US. From 2020 to 2023, total export revenue achieved a compound annual growth rate (CAGR) of 31%.

Masan owns many FMCG brands that are popular with consumers. Photo: Masan

In its supermarket segment, WinCommerce (WCM) expects to achieve net revenue of VND 32,500 to VND 34,000 billion, representing year-on-year increases of 8% to 13%. This growth is driven by network expansion and positive results from new stores.

Masan MEATLife (MML) expects to achieve net revenue of approximately VND 7,100 - 7,800 billion, representing a 2% to 12% increase year-on-year, thanks to a focus on investing in the processed meat business and reducing the scale of its chicken farms.

In the F&B segment, Phuc Long (PLH) aims to generate between VND 1,700 and VND 2,170 billion, representing a growth rate of 17% to 41% compared to the same period last year. The brand plans to add 30-60 stores beyond WCM (including standard stores, flagship stores, and kiosks), focusing on Hanoi and Ho Chi Minh City. Currently, Phuc Long owns 156 stores nationwide.

Masan stated that it will continue to reduce leverage to improve its balance sheet, decreasing interests in non-core businesses while maintaining a tight capital allocation strategy. The group plans for core after-tax profit before allocation to minority shareholders, projected at VND 2,290 - VND 4,020 billion, a strong increase compared to VND 1,950 billion in 2023.

In a volatile capital market, businesses with consumer-focused segments that generate solid cash flow, such as Masan, have a significant advantage in accessing the domestic capital market.

and internationally under very favorable conditions. Masan's non-cyclical business operations give management confidence in the favorable conditions ahead in increasing the company's liquidity in the coming months.

The vegetable section at Winmart supermarket. Photo: Masan

Masan's management believes the Vietnamese consumer market will experience slight growth in the first half of this year and recover rapidly in the second half. However, given the less-than-optimistic global economic outlook that could impact the recovery trajectory, the group will plan for both a slow recovery scenario and a rapid growth scenario in 2024.

In 2023, Masan recorded consolidated revenue of over VND 78,252 billion, a slight increase of nearly 3% compared to 2022. Core after-tax profit before allocation to minority shareholders reached VND 1,950 billion.

Thai Anh

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