Revenue growth helps Masan enter Forbes' top 50

Net revenue in 2022 increased by VND 2,000 billion, helping Masan Group enter the list of 50 best listed companies announced by Forbes Vietnam for the 11th consecutive time.

Accordingly, in 2022, Masan Group's net revenue (stock code MSN) reached VND 76,189 billion, an increase of 2.6% compared to VND 74,224 billion in 2021. The group's 2022 earnings before interest, taxes, depreciation and amortization (EBITDA) reached VND 14,437 billion.

Masan representative received honor from Forbes Vietnam in Ho Chi Minh City on August 17. Photo: Masan — Masan representative received honor from Forbes Vietnam in Ho Chi Minh City on August 17. Photo: *Masan*

In the first half of 2023, Masan's business performance continued to be positive. Masan's net revenue reached VND37,315 billion, up 3.6% compared to VND36,023 billion in the first half of 2022. The operating profit of The CrownX (TCX), Masan's integrated consumer-retail platform combining WinCommerce (WCM) and Masan Consumer Holdings (MCH), recorded a growth of 38.8% over the same period last year thanks to the stable foundation of the consumer goods business segment.

TCX's revenue recorded VND26,835 billion in the first 6 months of 2023 and VND13,535 billion in the second quarter of 2023, up 3.1% and 7.6% year-on-year, respectively. TCX's EBITDA reached VND3,507 billion in the first 6 months of 2023 and VND1,976 billion in the second quarter of 2023, up 10.3% and 28.3% year-on-year, respectively.

Masan's meat business Masan MEATLife (MML) also recorded a 70.2% increase in revenue (from VND 1,941 billion to VND 3,303 billion) in the first half of 2023 and 68.7% in the second quarter of 2023 compared to the same period.

Based on the 1H2023 operating results and current growth momentum, Masan expects to achieve VND83,500 - 90,000 billion in revenue, and VND3,000 - 4,000 billion in net profit before minority distribution ("NPAT Pre-MI") in 2023.

Customers shop at a Winmart supermarket, a member of Masan Group. Photo: Masan — Customers shop at a Winmart supermarket, a member of Masan Group. Photo: *Masan*

Since the beginning of the year, Masan has been continuously honored by many domestic and international organizations at awards such as: Best Workplace in Asia 2023 (HR Asia Award); Top 50 Sustainable Development Enterprises 2023 (Nhip Cau Dau Tu Magazine); Top 50 Prestigious & Effective Public Companies 2023 (Vietnam Report)...

Forbes' list of the 50 best listed companies in 2023 must go through many steps of evaluating businesses listed on the Ho Chi Minh City Stock Exchange (HSX) and the Hanoi Stock Exchange (HNX). In addition to the preliminary stage, companies must meet the following conditions: making a profit in 2022, with revenue and capitalization of at least VND500 billion. In the next round, companies are quantitatively scored on five criteria: compound growth rate of revenue, profit, ROE, ROC and EPS growth in the period of 2018 - 2022. After that, Forbes Vietnam conducts qualitative analysis to assess the sustainable development of businesses: the company's position in the industry, source of profit, quality of corporate governance and industry prospects.

In the context of the frozen real estate market, the essential consumer goods, food, logistics, and technology sectors still have many steps forward... In 2022, the profits of listed companies in general and the list of 50 best listed companies in particular still achieved good growth. Specifically, the total after-tax profit of the 50 companies on Forbes Vietnam's list reached VND 228,096 billion, an increase of 18% compared to the 2021 list.

Hoang Anh

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