Masan’s net revenue reaches $2.34 billion

According to the report, Masan’s net revenue reached VND57.47 trillion ($2.34 billion) in the first nine months of 2023, an increase of 3.5 per cent on-year. Its consolidated cash balance, including cash and cash equivalents, was VND14.23 trillion ($579.5 million) for the same period.

Masan’s consumer businesses, WinCommerce (WCM), Masan Consumer Holdings (MCH), Masan MEATLife (MML), and Phuc Long Heritage (PLH), grew their combined earnings before interest and taxes (EBIT) by 45.5 per cent.

WCM’s EBIT broke even for the first time in the post-pandemic era, while net revenue increased by 2.1 on-year thanks to new store openings. WCM was more cautious about new store openings than previous years, with 245 new WinMart+ locations and two new WinMart supermarket outlets opened in the first nine months, ending September 2023 with 3,586 stores nationwide.

Meanwhile, MCH’s net revenue grew by 10.5 per cent on-year to VND20.38 trillion ($829.89 million) and MML’s revenue increased by 61.1 per cent, driven by stronger sales across almost all segments, but particularly processed meat which showed growth of almost 36 per cent compared to the same period last year.

PLH improved profitability, showing EBIT growth of 20.8 per cent on-year in the third quarter, with PLH opening 6 new locations in that time. PLH stores outside WCM experienced slight growth in revenue, reaching VND876 billion ($35.6 million) for the first nine months of the year.

The CrownX (TCX)’s recorded revenue of VND41.7 trillion ($1.69 billion) in grew by 2.4 per cent on-year. TCX’s posted EBIT of VND5.62 trillion ($228.85 million) for the first three quarters, up 11.4 per cent on-year.

“In a time of such global uncertainty, our mission to serve consumers their daily necessities has never been more important. The concept of ‘doing well by doing good’ has guided us across each challenging period. It is no different this time around” said Dr. Nguyen Dang Quang, chairman of Masan Group.