In Q3 2024, Masan Consumer continued to maintain a double-digit growth trajectory in both revenue and profit.

Specifically, the net revenue for Q3 reached VND 7,987 billion, marking a 10.4% increase compared to the same period last year.

Net revenue reached VND 7,987 billion, an increase of 10.4% compared to the same period last year.

The positive business results of Masan Consumer were driven by the premiumization strategy implemented in the convenience food and seasoning categories, which achieved growth rates of 11% and 6.7% year-on-year, respectively. Additionally, innovations in the beverage and home and personal care products contributed to growth rates of 18.8% and 12.4%, respectively. Masan Consumer continued to maintain a high gross profit margin of 46.8%, which is 20 basis points higher than in Q3 2023. This was accomplished through the execution of the premiumization strategy in the seasoning and convenience food categories by combining high-margin products with appropriate pricing strategies across key sub-categories, despite rising material and packaging costs.

Vietnamese products account for over 90% at WinMart.

In addition, the company has adopted a strategy to reduce trade promotion activities in order to invest in higher return on investment (ROI) initiatives, such as developing new channels and brand-building marketing. This approach has optimized operating costs relative to revenue by an additional 70 basis points. Accordingly, the net profit margin after tax, after minority interest (NPAT Post-MI margin) recorded at 25.9%, an increase of 90 basis points compared to the same period last year.

Contributing to 80% of Masan Consumer’s total revenue growth are five strong brands with annual revenues exceeding VND 2,000 billion: Kokomi, Omachi, Chin-su, Nam Ngư, and Wakeup 247. The successful development of these brands is the result of a consistent strategy spanning decades that closely follows consumer journeys to address significant unmet needs. In the near future, Masan Consumer aims to own six billion-dollar brands.

Customers shop at the WinMart supermarket system.

Growing at 2.2 Times the Overall Market Rate

Masan Consumer has a stable business history with high growth rates that significantly outpace other companies in the fast-moving consumer goods (FMCG) and packaged food sectors in the region. Specifically, according to an HSBC report, from 2017 to 2023, Masan Consumer grew at a rate 2.2 times faster than the overall market. The report also highlights the plan for Masan Consumer’s MCH shares to be listed on the HoSE. They believe that transitioning to a listing on HoSE could enhance MCH stock liquidity, aligning with the company’s outstanding performance achieved over the years.

In October 2024, the Board of Directors of Masan Consumer approved the plan to transfer MCH shares from UPCoM to a listing on the exchange. Mr. Danny Le, CEO of Masan Group, stated that with an average growth rate of 15% per year over the past 6-7 years for Masan Consumer, “it is time to consider executing the potential IPO plan”. According to company information, Masan aims to complete the listing process for MCH shares on HoSE in 2025.

With a leading position in various categories within the FMCG sector, such as seasonings, beverages, and convenience foods, Masan Consumer is intensifying its “Go Global” strategy with a target of achieving 15% of its sales from international business by 2027, while currently this ratio is only about 4%. At Foodex Japan 2024, Masan Consumer launched a range of specialty seasoning powders and sauces, including Sriracha chili sauce and Chin-su spring rolls, refined from regional specialties of Vietnam for consumers in Japan and representatives from over 60 other countries and regions.

Chin-su is a familiar brand for family meals.

Chin-su is also a popular brand in many international markets. For instance, in South Korea, Chin-su chili sauce achieved “Top 1 Best Seller” status on the e-commerce platform Coupang. Coupang is one of the leading e-commerce platforms in South Korea, featuring over 50 million unique and diverse products for users worldwide to choose from. In the U.S. market, Chin-su chili sauce maintains its position among the top 8 best-selling products on Amazon.

In Q4 2024, Masan Consumer aims to accelerate revenue growth by continuing to implement its premiumization strategy across the seasoning and convenience food categories, innovating in the beverage, home care, personal care, and instant coffee categories, while streamlining its product portfolio to optimize profits.