According to the Q4 2023 financial report, MSN achieved a net revenue of VND 20,782 billion, a slight increase of 1% compared to the same period last year. Gross profit reached VND 5,768 billion, a 4% increase due to an improved gross margin of 27.8%, up 0.8 percentage points.
Another positive point is that the loss from financial activities decreased from VND 1,168 billion to over VND 970 billion, thanks to significant reduction in financial expenses, despite a 12% increase in interest expenses. In addition, the profit from associated companies also increased compared to the same period, reaching VND 946 billion, a 26% increase.
The after-tax profit of the consumer giant decreased by 36% to VND 517 billion. Accumulated throughout the year, MSN achieved a net revenue of VND 78,252 billion, a 3% increase over the previous year, while the after-tax profit decreased by 61% to VND 1,870 billion.
| The net profit trend of MSN from 2019 to 2023 |
According to MSN, the decrease in after-tax profit in 2023 is mainly due to the absence of one-time income in 2022, as well as a decrease in profit from Masan High-Tech Materials (MSR) and Techcombank (TCB), along with increasing financial expenses.
While the EBIT of the core consumer business improved significantly to VND 1,396 billion, the profit of Masan High-Tech Materials (MSR) and Techcombank (TCB) decreased by VND 1,433 billion and VND 484 billion respectively. Net interest expenses and exchange rate increased by VND 896 billion.
As of December 31, 2023, MSN‘s total assets were approximately VND 147,383 billion, a 4% increase compared to the beginning of the year. This is the highest level in MSN‘s history since its listing.
In addition to the highest proportion of fixed assets (29%), MSN allocated 23% of its assets for long-term financial investments, equivalent to a value of over VND 33,219 billion.
On the other side of the balance sheet, MSN has a total outstanding debt of VND 69,572 billion, accounting for 47% of its total capital, mainly long-term debt. The total debt to be repaid is at VND 109,146 billion, with a debt-to-assets ratio of over 74%.
| The asset trend of MSN from 2019 to 2023 |
