Masan's money-making machine achieves impressive growth

Masan Consumer participates in Ho Chi Minh City export fair

Contribute to the recovery of the retail industry

According to the update from the General Statistics Office, the total retail sales of goods and consumer service revenue in October is estimated at 536.3 trillion VND (up 1.5% compared to the previous month and up 7% compared to the same period last year) due to the high demand for cultural, educational products and household appliances and the positive trend in accommodation, food and beverage, and tourism services.

In the first 10 months of 2023, the total retail sales of goods and consumer service revenue at current prices is estimated at VND 5,105.4 trillion, up 9.4% over the same period last year (the same period in 2022 increased by 20.8%), if excluding the price factor, it increased by 6.9% (the same period in 2022 increased by 16.7%).

Contributing to the growth of total retail sales of goods, according to MSN's financial report, the third quarter of 2023 continues to be an explosive quarter for Masan Consumer.

The company achieved impressive revenue growth of 10.5% in the first 9 months of 2023, and 8.7% in the third quarter of 2023 compared to the same period. In the third quarter of 2023 alone, the gross profit margin recorded a historical high of 45.6%, helping to boost the EBITDA margin to 26%. This is the result of Masan Consumer owning strong brands, a reasonable allocation strategy of high-margin products, the ability to optimize raw material costs, and plans based on reasonable product supply and demand.

Masan Consumer recorded growth in most product categories, especially spices, personal and family care products (HPC), and convenience foods, which recorded growth of 21%, 8.3%, and 39.4%, respectively, in the first 9 months of 2023 compared to the same period.

WinMart Ha Long was bustling on opening day

Strong brand covering domestic and foreign markets

At the April 2023 General Meeting of Shareholders, Mr. Truong Cong Thang - General Director of Masan Consumer said that Masan's goal in the next 5 years (2023-2027) is to achieve revenue of 80,000-100,000 billion VND, of which 85% is from domestic and 15% is from export.

In the long-term journey of bringing Vietnamese cuisine to the world, Masan Consumer will pursue the highest standards of food hygiene and safety, and consumer health. "If a company can bring Vietnamese food to the world, we can do it best," Mr. Truong Cong Thang confidently said.

Masan Consumer is currently promoting the "Go Global - Bringing Vietnamese brands to the world" strategy, aiming at two important goals. One is to contribute 15% of sales from international business activities by 2027. The other is to develop Chin-Su - Vietnam's leading spice brand, to become an international brand bringing Vietnamese spices to the world.

In a year focusing on the "Go Global" strategy, this unit's Chin-Su brand has achieved positive results. In March 2023, during its launch at Foodex Japan, the Chin-Su spice set immediately took the "spotlight" and attracted diners from the land of cherry blossoms. Just over a month after the event, the spice set was officially on the shelves of Japanese supermarkets and received an enthusiastic welcome from the people and high praise from culinary experts. After Japan, in May 2023, the "storm" called Chin-Su spice also continued to "sweep" Seoul Food and was highly praised by the Korean people.

MEATdeli chilled meat products

For the domestic market, Masan Consumer recently launched Omachi instant beef and crab hotpot. At the same time, the company also joined hands with Pho Thin Bo Ho - a traditional pho restaurant with nearly 70 years of history, to develop a new instant product line called Pho Story. For the first time in the market, a leading consumer brand has collaborated with a traditional pho restaurant to launch a new convenient product.

The continuous successful launch of new products in the domestic and international markets not only marks a new step forward for Masan Consumer, but also contributes to affirming the position of Vietnamese flavors on the world culinary map. In addition, along with the positive macro factors that help consumer psychology become more positive in the coming time, this unit will accelerate even more strongly, breaking through the goals set in 2023 and beyond in 2024 and 2025.

Source link: https://thanhnien.vn/co-may-hai-ra-tien-cua-masan-dat-tang-truong-an-tuong-185231115115955352.htm