Masan Consumer Holdings posts record profits in Q4, gross profit margin up nearly 50%

Masan Consumer Holdings has seen a significant increase in its cash and bank deposits, totaling VND 8,105 billion, up by VND 2,315 billion since the beginning of the year.

0
52

In Q4 2023, Masan Consumer Holdings (stock code: MCH) achieved a net revenue of VND 8,691 billion, a 3.4% increase compared to the same period last year. For the full year 2023, Masan Consumer Holdings recorded a net revenue of nearly VND 29,066 billion, a 3.4% increase compared to 2022.

Based on like-for-like (LFL) basis, the revenue of Masan Consumer Holdings increased by 9% in 2023 and 5.4% in Q4 2023 compared to the same period last year.

Masan Consumer Holdings continued to achieve a record profit in Q4 2023 with a post-tax profit of VND 2,306 billion, a 23.8% increase compared to the same period last year. In 2023, Masan Consumer Holdings recorded a post-tax profit of VND 7,195 billion, an impressive growth of 30% compared to 2022, while maintaining a healthy inventory level. The EPS for 2023 reached VND 9,888 per share, a significant increase compared to the EPS of VND 7,612 per share in 2022.

Furthermore, the gross profit margin of Masan Consumer Holdings reached nearly 50% for the first time. Specifically, the gross profit in Q4 reached VND 4,017 billion, with a gross profit margin of 47.29%, a significant increase from 41.48% in Q4 2022.

The total assets of Masan Consumer Holdings as of December 31, 2023 amounted to VND 40,553 billion, an increase of over VND 7,000 billion compared to the beginning of the year. The total cash and bank deposits amounted to VND 8,105 billion, an increase of over VND 2,315 billion compared to the beginning of the year.

According to Masan, these results were achieved through reasonable product rotation with high profit margins, a consolidated pricing strategy supported by a strong brand and efficient operations. In order to accelerate the product innovation process and increase the success rate, MCH will implement a model to launch new products in the store chain system, WCM supermarkets, and digital channels.

In 2023, the “go global” strategy with the highlight being the CHIN-SU brand brought positive results for MCH. Export revenue increased to VND 1,005 billion in 2023, a 13.6% increase compared to the same period last year. Especially in the US market, CHIN-SU soy sauce maintained its position in the top 8 best-selling products on Amazon. As a result, the total export revenue achieved a strong compound annual growth rate (CAGR) of 31% from 2020 to 2023.

In addition, key product categories including Family and Personal Care, Seasonings, and Convenient Food of MCH grew by 39.4%, 18.2%, 8.8% respectively compared to the same period. Revenue from innovative and creative product groups reached VND 1,284 billion, a 39.0% increase compared to the same period last year, contributing 54% to LFL revenue growth.

To ensure the stability of profit margins in 2024, Masan Consumer Holdings has secured the majority of prices for raw materials until the second half of 2024.

SOURCEcafef
Previous articleWhich car brand sells the most urban SUVs in Vietnam?
Next articleThe challenging future of the rice market