Masan aims for revenue of 90,000 billion VND

On the morning of April 25, Masan Group Corporation (stock code MSN) held the 2024 Annual General Meeting of Shareholders simultaneously with two member companies, Masan Consumer Corporation (Masan Consumer - stock code MCH) and Masan MEATLife Corporation (stock code MML).

Mr. Nguyen Dang Quang - Chairman of Masan Group - shared that Masan Consumer is both a driving force and a source of pride in the group's journey to serve consumers. These are also "love brands", love and ambassadors of Vietnamese cuisine in Masan's journey to the world, bringing Vietnamese cuisine to 8 billion consumers around the world. This year, the group will conduct an IPO of MasanConsumer.

Masan Chairman - Mr. Nguyen Dang Quang speaks at the 2024 Annual General Meeting of Shareholders

Mr. Danny Le - CEO of Masan Group - emphasized Masan's commitment to operating the company effectively and continuously focusing on increasing profits with a focus on the next 18 - 24 months. This is also the starting point of Masan's journey to build a consumer - technology platform, The CrownX. By 2024, the WinCommerce store system is expected to reach a total of 4,000 stores and 90% of mini supermarkets will reach EBITDA (earnings before interest, taxes, depreciation and amortization) break-even.

Specifically, Mr. Truong Cong Thang - General Director of Masan Consumer - said that the company has successfully built 5 strong brands with annual revenue from 150 million to 250 million USD including Kokomi, Omachi, CHIN-SU, Nam Ngu and Wakeup 247, contributing to 80% of total revenue growth.

The successful growth of these brands is the result of a consistent strategy spanning decades of following the consumer journey to address significant unmet needs. Masan Consumer has grown at a 2.2x market rate from 2017 to 2023 and aims to expand further by entering the out-of-home consumer market, offering premium home meal replacement and restaurant meal replacement products to consumers.

Mr. Thang believes that this is just the first step in Masan Consumer's journey to conquer Vietnam's FMCG market. Masan Consumer's strategic goal is to own 6 billion-dollar brands, implement the "Go Global" strategy and become the leading company in Southeast Asia in terms of revenue and profit growth thanks to the new FMCG model...

Regarding the 2024 plan, Masan Group expects consolidated net revenue to be in the range of VND84,000 to VND90,000 billion, up 7% to 15% year-on-year. Core consumer businesses are still expected to be the main drivers of revenue growth. Core after-tax profit before distribution to minority shareholders is expected to be in the range of VND2,290 to VND4,020 billion, up sharply from VND1,950 billion in 2023.

Source: https://thanhnien.vn/masan-huong-den-doanh-thu-90000-ti-dong-thuc-hien-ipo-cong-ty-hang-tieu-dung-185240425092248533.htm