Masan MEATLife and WinCommerce have been profitable in 2024 and are the main drivers to boost the group's profits in the coming time.
Rich MEATDeli meat counter at WinMart supermarket - Photo: MS
Of which, Masan MEATLife (MML) will bring in nearly VND 7,650 billion in net revenue in 2024, equivalent to more than VND 21 billion per day.
The market for cured meat continues to expand.
In recent years, the demand for chilled meat in Vietnam has increased sharply as consumers gradually prioritize safe products with clear origins. MEATDeli - the chilled meat brand of Masan MEATLife - has affirmed its pioneering position, helping this market to grow more and more.
The company said that in 2024, the chilled meat and processed meat segments will continue to be the main drivers contributing to revenue growth. Specifically, revenue from the chilled meat and processed meat segments will grow by 15.4%.
However, the farm segment recorded a decline of 7.3%, mainly due to the restructuring strategy of this segment, shifting to a direct-to-consumer business model. Meat sales per WinCommerce store increased 26% year-on-year, reflecting a clear shift in consumer habits, demonstrating great potential for market expansion.
Data shows that in 2024, MML recorded revenue of nearly VND 7,650 billion, equivalent to more than VND 21 billion per day. In the fourth quarter of 2024, revenue reached VND 2,204 billion, an increase of 24% over the same period last year.
A notable point in the past year was the remarkable growth of the processed meat segment. This segment is becoming a strategic business segment of MML. Monthly revenue from this segment has exceeded 200 billion VND, contributing 34.6% to total revenue in 2024, higher than 32.9% of the previous year. New products also contributed significantly with 538 billion VND in revenue, helping the processed product industry grow by nearly 13% over the same period.
In total, Masan MEATLife posted a net profit of nearly VND99 billion in the fourth quarter, marking its second consecutive profitable quarter. Notably, MML recorded positive after-tax profit for the entire year of 2024. This can be seen as a positive premise for 2025, which is expected to be an acceleration period for MML as the company targets strong growth with a comprehensive development strategy this year.
Target revenue growth up to 14%
Sharing about the positive business results in 2024 and the development strategy in 2025, Masan (the group owning Masan MEATLife, Masan Consumer, WinCommerce, Phuc Long...) said: Masan MEATLife and WinCommerce brought profits in 2024, contributing positively to the group's business results. At the same time, these businesses will be the main driving force to boost the group's profits in the coming time.
Consumers shop for MEATDeli chilled meat - Photo: MS
Accordingly, in 2025, MML is assigned an expected revenue plan of VND 8,250 billion to VND 8,749 billion, an increase of 8% to 14% over the same period. This result will be achieved on MML's continuous journey of transformation to become a meat processing company and deeper cooperation with WinCommerce.
The company said it will increase the value of each finished pig raised for meat to VND10 million/head, equivalent to a growth rate of approximately 10% over the same period last year, by maximizing the utilization rate; continue to invest in the processed meat segment with the goal of contributing 36-37% to MML's sales structure; launch "Meat Corner" within the WinCommerce chain, aiming to increase the market share of processed meat sales in the chain to 20% in 2025 and towards 40% in the long term.
With a clear strategy and sustainable development orientation, Masan MEATLife not only aims to increase revenue but also wants to improve product quality and customer experience.
By investing heavily in processing technology and optimizing the supply chain, the company promises to bring high-standard, safe meat products to meet the increasing demands of Vietnamese consumers.
Source: https://tuoitre.vn/masan-meatlife-mang-ve-hon-21-ty-dong-doanh-thu-moi-ngay-20250212141042183.htm
Comment (0)