Masan Group Corporation (Masan, HOSE: MSN) has released its unaudited financial report for Q3 2025 and the first nine months of the year.
In Q3, the company achieved a revenue of VND 21,164 billion, a 9.7% increase year-on-year, with a post-tax profit of VND 1,866 billion, 1.4 times higher than the same period last year.
For the first nine months, revenue reached VND 58,376 billion, an 8% growth year-on-year, and post-tax profit hit VND 4,468 billion, a 64% surge, completing over 90% of the annual plan.
This growth was driven by strong profit performance from Wincommerce, Masan MeatLife, and Phúc Long, along with improved contributions from TCB and the deconsolidation of H.C. Starck (HCS), despite MCH’s early-stage distribution model refinement and a slight increase in net financial expenses.
WinCommerce (“WCM”): Q3 revenue reached VND 10,544 billion, up 22.6% year-on-year, with a post-tax profit of VND 175 billion, 8.7 times higher, resulting in a 1.7% profit margin. This was fueled by a 11% and 9.7% like-for-like (LFL) revenue growth in mini-supermarkets and supermarkets, respectively.
Nine-month revenue stood at VND 28,459 billion, a 16.6% increase, with a post-tax profit of VND 243 billion, up by VND 447 billion, driven by LFL growth and network expansion in Central Vietnam with WinMart+ stores.
Masan Consumer Corporation (UpCOM: “MCH”): MCH reported a Q3 revenue of VND 7,517 billion, down 6% year-on-year.
Nine-month revenue was VND 21,281 billion, a 3.1% decrease, with a post-tax profit of VND 4,660 billion, down 16%, impacted by the nationwide implementation of the “Direct Distribution” model in traditional trade channels. However, monthly and quarterly improvements were recorded, setting the stage for future growth.
Masan MEATLife (“MML”): Q3 revenue reached VND 2,384 billion, up 23%, with a post-tax profit of VND 101 billion, 5.2 times higher.
Nine-month revenue was VND 6,794 billion, a 24.7% increase, with EBIT at VND 310 billion, up 5.7 times, and post-tax profit at VND 466 billion, up by VND 526 billion, thanks to efficient operations, increased sales across all segments, and optimized pork value through enhanced MML-WCM collaboration.
Phúc Long Heritage (PLH) recorded a Q3 revenue of VND 516 billion, up 21.2%, with a net profit margin of 10.8%, 2.1 times higher.
Nine-month revenue reached VND 1,373 billion, a 14.1% increase, with a post-tax profit of VND 141 billion, up 80.1%.
Masan High-Tech Materials (“MHT”): Q3 revenue was VND 2,041 billion, with a post-tax profit of VND 5 billion, up by VND 279 billion.
Nine-month revenue stood at VND 5,048 billion, a 25.1% LFL increase, with a post-tax profit of -VND 211 billion, up by VND 1,159 billion, due to improved operational efficiency, higher commodity prices, reduced unit production costs, and the deconsolidation of H.C. Starck (HCS).
Techcombank (“TCB”): Masan’s share of TCB’s profit in Q3 2025 was VND 1,242 billion, up 9.4% year-on-year.
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