Masan closes 2024 with big win, profit increases nearly 4 times

On January 24, Masan Group Corporation (MSN) announced its unaudited financial report, in which the profit in the fourth quarter of 2024 grew strongly, nearly 14 times higher than the same period last year, reaching 691 billion VND. The profit for the whole year of 2024 reached 200% of the base scenario plan, with a profit of 1,999 billion VND.

Masan ’s post-tax profit after minority shareholder allocation is expected to reach VND691 billion in 4Q24 and VND1,999 billion in 2024, up 1,282% and 377.5% year-on-year, respectively. This result is driven by strong profit growth momentum across the retail consumer business, VND365 billion improvement from lower net interest expenses and a one-time gain of VND89 billion from the sale of HCS. This positive result helps offset one-time costs of MHT’s transformation and gains from wholesale feed discounts from MML’s farm business.

Consumers shop for Masan Consumer products. PHOTO: MS

In addition, MSN also recorded VND100 billion in expenses from charity activities and a decrease in profit of VND288 billion due to TCB recording a one-time expense when terminating the contract with Manulife. The growth momentum of core business activities since the beginning of the year has given the management confidence in Masan's transformation into a retail consumer platform. Masan's Q4/2024 profit recorded strong growth, nearly 14 times higher than the same period last year, reaching VND691 billion. Full-year profit in 2024 reached 200% of the base scenario plan.

In the fourth quarter of 2024 and 2024, Masan Group's net revenue will reach VND22,666 billion and VND83,178 billion, respectively. Contributing to the positive revenue figures is the sustainable growth momentum of the core retail consumer business and MHT's completed contractual obligations to partners, helping to offset Masan MEATLife's (MML) strategic direction in restructuring the farm chicken segment.

The index reflects the company's earnings before interest, income tax, depreciation and amortization (EBITDA) reaching VND4,580 billion and VND15,921 billion in the fourth quarter of 2024 and 2024, respectively, up 44.6% and 19.3% year-on-year. This significant increase is driven by the positive profit growth momentum of all retail business segments.

In the fourth quarter of 2024 and 2024, Masan Group's net revenue will reach VND22,666 billion and VND83,178 billion, respectively. Contributing to the positive revenue figures is the sustainable growth momentum of the core retail consumer business and MHT's completed contractual obligations to partners, helping to offset Masan MEATLife's (MML) strategic direction in restructuring the farm chicken segment.

Masan expects consolidated net revenue in 2025 to be in the range of VND80,000 billion to VND85,500 billion, corresponding to LFL growth of 7% to 14% year-on-year (after adjusting for the HCS demerger). In 2025, total consolidated revenue, excluding MHT, is expected to be in the range of VND74,013 billion to VND78,013 billion, corresponding to growth of 8% to 14% year-on-year. Pre-tax profit before minority shareholders (NPAT Pre-MI) is expected to reach VND4,875 billion to VND6,500 billion, a strong growth of 14% to 52% compared to VND4,272 billion in 2024.

Source: https://thanhnien.vn/masan-chot-nam-2024-thang-lon-loi-nhuan-tang-gap-gan-4-lan-185250124093030668.htm