Masan Group, chaired by billionaire Nguyen Dang Quang, has just revealed its business results for the fourth quarter of 2024 and the entire year. Notably, the Phuc Long milk tea chain alone brought in thousands of billions of VND in gross profit.
Many young people line up to buy milk tea made from Vietnamese agricultural products - Photo: TTO
According to the financial report of Masan Group (stock code MSN) just announced, in the fourth quarter of 2024 alone, the company earned nearly 22,700 billion VND in revenue. Combined for the whole year, the figure was raised to nearly 83,200 billion VND.
After deducting the cost of goods sold and a series of expenses, the company still retained more than 690 billion VND in profit in the last quarter of last year, nearly 14 times higher than the same period last year. The whole year's profit reached 200% of the base scenario plan.
Phuc Long Milk Tea's gross profit reaches thousands of billions of dong
As a "giant" in the consumer retail business in Vietnam, Masan Group is operating many different subsidiaries.
Notably, the Phuc Long Heritage milk tea chain alone brought in more than VND1,620 billion in revenue last year, with a gross profit of more than VND1,060 billion. Correspondingly, the increase was 6% and 7% respectively compared to the same period last year.
The highlight is that over the past year, this chain has continuously opened dozens of new stores, as well as renovated many existing stores to attract customers, especially young people.
It can be seen that the development of Phuc Long and some large beverage chains in the market is contributing to promoting the output of many agricultural products such as tea, coffee, lychee, grapefruit, lemon, honey...
In 2025, Masan expects the Phuc Long chain to achieve sales of VND1,910 - 2,200 billion, an increase of 18-36%. To do this, the business must renew its brand, attract current and new customers, increase promotions...
Masan increases revenue thanks to strategy of "luxury" instant noodles, soy sauce, coffee...
Among the subsidiaries of the group led by billionaire Nguyen Dang Quang, Masan Consumer (producing Omachi instant noodles, Chin-su soy sauce, Vinacafé...) has been listed on the stock exchange with the code MCH.
In the fourth quarter and the whole year of 2024, Masan Consumer achieved more than VND 8,940 billion and nearly VND 30,900 billion in revenue, respectively, a significant increase over the same period last year. Thanks to the premiumization strategy in the convenience food and seasoning industry, and innovation in beverage products. In particular, international revenue alone increased by more than 22.% over the same period last year.
To facilitate sales in the Vietnamese market, WinCommerce company was assigned by the group to operate the chain of retail stores - supermarkets WIN, Winmart, Winmart+... with a total of 3,828 stores by the end of 2024.
Points of sale have appeared in both urban and rural areas. This has helped revenue reach nearly VND 8,560 billion (+12%) and nearly VND 32,970 billion (+10%) across the entire network in the last quarter of the year and the whole year, respectively.
In addition, Masan's business results also received a large contribution from another subsidiary in the agricultural sector - Masan MEATLife (chilled meat), with revenue of more than VND 2,200 billion (+24%) in the last quarter, and a total of VND 7,650 billion (+10%) for the whole year.
Of which, sales from fresh meat and processed meat increased significantly, while revenue from the farm channel decreased slightly. This development shows that the company is implementing a strategy to restructure the farm segment. During the past year, the fresh pork segment alone recorded a 26% increase in daily sales per WCM store compared to the same period last year.
Want to increase Vietnamese agricultural products to the US, Korea...
Masan's business picture also includes Masan High-Tech Materials (an integrated industrial chemical and mineral producer), with revenue of nearly VND14,340 billion last year.
Another notable development is that Techcombank - an affiliate of Masan, contributed VND732 billion to EBITDA (profit before interest, depreciation and income tax) in the last quarter of the year. This means a decrease in profit of VND288 billion, because the bank recorded a one-time cost when terminating the contract with Manulife insurance company.
In 2025, Masan aims to achieve revenue ranging from VND80,000-85,000 billion. Many strategic focuses have also been put forward such as: focusing on increasing profits in the core retail consumer business segment, applying technology throughout, further reducing financial leverage, and reducing ownership in non-core segments.
At the same time, it is gathering additional revenue from selling spices, convenience foods and instant coffee in the US, Korean, Japanese and EU markets.
At the end of last year, Masan Group had more than VND 19,220 billion in cash and cash equivalents (+14%). Assets reached nearly VND 147,600 billion. Debt decreased to nearly VND 65,550 billion. Owner's equity was more than VND 40,750 billion.
Source: https://tuoitre.vn/chuoi-tra-sua-nao-bao-lai-ngan-ti-dong-20250124114948238.htm
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