Masan MEATLife achieved positive quarterly profit after tax

In the third quarter of 2024, Masan MEATLife's meat revenue, including pork, chicken and processed meat, increased by 13.6% over the same period. At the same time, it recorded an increase of VND 105 billion in profit after tax before distribution to minority shareholders. This is the first quarter that the enterprise has reported positive profit after tax since 2023. In recent years, preferential loans from the Social Policy Bank (CSXH) Tan Phu District Transaction Office (Dong Nai) have become an important resource, helping many households in the district reduce poverty, create stable jobs, improve their lives, and contribute to promoting socio-economic development. In particular, most households that have access to capital have invested for the right purposes, effectively promoting the loan capital. On the afternoon of October 29, within the framework of attending the 8th Future Investment Initiative Conference (FII8) and visiting the Kingdom of Saudi Arabia, Prime Minister Pham Minh Chinh had talks with Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman Bin Abdulaziz Al Saud. Son La province is making efforts to speed up the implementation of projects and sub-projects under the National Target Program on Socio-Economic Development in Ethnic Minorities and Mountainous Areas for the 2021-2030 period (National Target Program 1719). To ensure the disbursement progress and complete the objectives of the policy contents, the province has proactively adjusted capital sources in accordance with the decentralized authority. In the period of 2021-2025, along with the implementation of national target programs on new rural construction and sustainable poverty reduction, Duc Linh district focused on implementing the National Target Program on socio-economic development in ethnic minority and mountainous areas (National Target Program 1719). Accordingly, the material and spiritual life of ethnic minorities in the district has been increasingly improved in both quantity and quality. In the third quarter of 2024, Masan MEATLife's meat revenue, including pork, chicken and processed meat, increased by 13.6% over the same period. At the same time, an increase of VND 105 billion was recorded in after-tax profit before allocation to minority shareholders. This is the first quarter that the company has reported positive after-tax profits since 2023. Giang Thanh is a border district with many difficulties in Kien Giang province, with 3 main ethnic groups living here: Kinh, Khmer, Hoa. Of which, the Khmer people account for more than 21%. In recent years, poverty reduction for the Khmer people in the district has achieved many successes thanks to the National Target Program on Socio-Economic Development of Ethnic Minorities and Mountainous Areas, Phase I 2021-2025 (National Target Program 1719). These steps have helped the Khmer people have better living conditions and a sustainable future. Ninh Thuan province is the locality with the largest concentration of Cham people in the country with many good customs and practices. Since ancient times, the Cham people have followed a matriarchal system, women have an important role and position in family life, clans, and villages. In today's modern society, the "matriarchal" role of Cham women still plays a positive role in the family and in society. The summary news of the Ethnic and Development Newspaper, on October 29, has the following notable information: Quang Binh suffered serious damage due to floods. "Touching Sa Pa - Touching the clouds in 2024". Khmer ethnic female artisan revives the craft village. Along with other news in ethnic minority and mountainous areas. On the morning of October 30, continuing the program of the 8th Session, the 15th National Assembly, the National Assembly listened to the Presentation and Verification Report on the draft Law amending and supplementing a number of articles of the Law on Planning, the Law on Investment, the Law on Investment under the form of public-private partnership and the Law on Bidding. On the morning of October 30, continuing the program of the 8th Session, the 15th National Assembly, the National Assembly listened to the Presentation and Verification Report on the draft Resolution on piloting the handling of evidence and assets during the investigation, prosecution and trial of a number of criminal cases. With the theme "The ethnic minority community of Kien Giang province unites and is determined to promote the digital transformation strategy to contribute to promoting advantages and potentials for integration and development", on the morning of October 30, at the Cultural - Art Center of Kien Giang province, the 4th Congress of Ethnic Minorities of Kien Giang province in 2024 officially opened. Deputy Minister, Vice Chairman of the Ethnic Committee Nong Thi Ha attended and spoke at the Congress. On the morning of October 30, at the headquarters of the Ethnic Committee of Soc Trang province, the announcement ceremony of the decision to appoint the Head of the Provincial Ethnic Committee took place. Attending the ceremony were: Mr. Nguyen Van Khoi - Member of the Provincial Party Committee, Vice Chairman of the Provincial People's Committee; Mr. Tran Phuoc Vinh - Member of the Provincial Party Committee, Director of the Department of Home Affairs; Mr. Vo Hoang Tho - Deputy Head of the Provincial Party Committee's Organization Board. In the Eastern Truong Son region of Gia Lai province, the forge of the Hmeh village elder, Stor village, To Tung commune, Kbang district has been burning for many years. From a rudimentary forge, including a clay blow furnace, hand crank, anvil, hammer, clamp, and charcoal, the Hmeh elder has created hundreds, thousands of agricultural tools for the Ba Na people to go to the fields, dig the land, and work the fields...

Customers shopping at WinMart3 supermarket

Foundation for growth from Vietnam meat market

The pork and chicken market, worth more than $15 billion, is the largest segment in the F&B industry. With a population of nearly 100 million people and a continuously improving average income, the demand for clean, traceable meat in Vietnam is increasing.

Currently, domestic meat production only meets 95% of consumption. Therefore, the livestock sector has great potential and is attracting strong investment from both foreign and domestic sources. Vietnam's meat industry is poised for significant growth in meeting the needs of an increasingly large population.

Despite its great potential, the Vietnamese meat market is not standardized as more than 90% of pork products on the market are unbranded. Meanwhile, consumers are increasingly paying attention to products with traceable origins.

This creates conditions for Masan MEATLife Joint Stock Company (MML) - a member company of Masan Group and also one of the leading enterprises in Vietnam in the branded meat business, to have great potential for growth and an opportunity to set new standards in the consumption of high-quality, safe meat at reasonable prices for Vietnamese consumers.

Starting as a leading animal feed company in Vietnam, MML has completed its transformation into a branded meat business based on a consumer goods model. Since 2023, with a strategy focusing on the processed meat industry, in addition to MEATDeli, MML has owned two more brands: “Heo Cao Boi” and “Ponnie” – with processed meat products that have established a certain position in the market.

Housewives choose MEATDeli cool-cured meat

Masan MEATLife records third consecutive quarter of positive profit

Accordingly, in Q3/2024, MML recorded an increase of VND43 billion in EBIT compared to the same period last year and an increase of VND105 billion compared to the same period for NPAT before minority shareholders' distribution (NPAT Pre-MI) in Q3/2024. This is the third consecutive quarter that MML reported positive operating profit (EBIT) and the first quarter with positive NPAT Pre-MI (VND20 billion) since 2023.

This positive result was driven by increased processed meat sales and benefited from higher market prices for chicken and pork. In 3Q24, meat revenue including pork, chicken and processed meat increased by 13.6% YoY while farm revenue decreased by 28.2% YoY in 3Q24 as MML implemented its strategy to restructure its farm chicken business and focus more on the end-to-end value chain. As a result, MML's revenue increased slightly by 1.7% YoY to VND1,936 billion in 3Q24.

Thanks to the integration into WIN Membership - a Membership program in cooperation with WinCommerce, MEATDeli cooled meat has reached customers shopping at more than 3,700 points of sale of supermarket chains, WinMart/ WinMart+/ WIN stores. From there, it brings the opportunity to use high-quality meat products at reasonable prices to consumers, while helping sales grow impressively.

Increased sales and a solid position have turned MEATDeli into a “leading product” – a product that can attract consumer traffic to the store. MML’s competitive pricing strategy, including an exclusive pricing program for WIN members, helps narrow the price gap between MEATDeli products and meat at traditional markets, thereby increasing output and capacity utilization for processing plants.

European standard chilled meat production line at MEATDeli meat processing complex in Ha Nam

Appreciating the quality of MML's MEATDeli chilled meat, more and more consumers are interested in other products of the same brand. A series of quality processed meat products such as: ham, sausage, floss, dried chicken, pork skin rolls... are positively received by consumers. In particular, two strong brands, Ponnie and Heo Cao Boi, have achieved ~50% market share in the sterilized sausage product market.

The meat value chain in Vietnam has great growth potential, but will require companies to develop markets and lead change. From 2023, Masan MEATLife has focused on expanding its product portfolio by launching more processed meat products from pork and chicken. Processed meat will be a key factor to promote growth, not only in revenue but also in operating profit margin.

In 2024, MML targets revenue growth of around VND7,100 billion - VND7,800 billion, an increase of 2% - 12% compared to 2023 thanks to focusing on investing in the business of branded pork, chicken and processed meat. In the fourth quarter of 2024, MML will invest more in long-term profits from the processed meat segment to achieve sustainable profits.

Masan Group completes 130% of 2024 profit plan thanks to strong growth in consumption - retail

Source: https://baodantoc.vn/masan-meatlife-dat-loi-nhuan-sau-thue-ca-quy-duong-1730260741468.htm