Enterprise

MCH Demonstrates Sustainable Profitability with Nearly $1.2 Billion in Cash Dividend Payouts

From 2018 to the first half of 2025, Masan Consumer has distributed nearly $1.2 billion in cash dividends to its shareholders, a standout figure in Vietnam's consumer goods industry.

Administrator

28 November, 2025

Steady Profits, Consistent Dividends Over the Years

Throughout its formation and development, Masan Consumer Corporation (Masan Consumer, UPCoM: MCH) has demonstrated its ability to maintain stable and sustainable profitability across multiple economic cycles. From 2017 to 2024, the company’s revenue grew at a compound annual growth rate (CAGR) of approximately 10-13%, with EBITDA margins consistently around 26%—among the highest in Southeast Asia. A gross profit margin exceeding 42% and an ROIC surpassing 200% (according to internal calculations) reflect exceptional cost management and capital utilization in the fast-moving consumer goods (FMCG) sector.

Even during the most challenging periods, such as 2021 when raw material and transportation costs surged, MCH maintained an operating profit margin above 25% thanks to its closed-loop production-distribution model and a portfolio of essential products with stable demand. Strong cash flow and operational efficiency have enabled MCH to sustain profit growth while ensuring ample financial resources to consistently share value with shareholders through regular cash dividends.

From 2018 to the first half of 2025, Masan Consumer (a subsidiary of Masan Group (HOSE: MSN)) has paid out a total of nearly 1.2 billion USD in cash dividends to shareholders—a standout figure in Vietnam’s FMCG industry. Notably, the past two years saw record payouts: 416 million USD in 2023 and 465 million USD in 2024, reflecting robust business performance and consistent cash flow generation over the years.

Maintaining a consistent cash dividend policy amid global economic volatility underscores MCH’s robust financial strength and prudent yet effective capital management strategy. The company prioritizes sustainable profit growth over rapid expansion, ensuring a balance between investment and shareholder value sharing. This exemplifies Masan Consumer’s core philosophy: maximizing long-term shareholder value through tangible efficiency, sustainable cash flow, and financial discipline.

Growth Driven by Efficiency and Sustainable Innovation

The ability to pay consistent dividends for years stems from a stable profit foundation and strong operating cash flow. Masan Consumer currently leads nearly 80% of Vietnam’s essential consumer goods market, with its products present in 98% of Vietnamese households (according to Kantar 2024). Flagship brands such as CHIN-SU, Nam Ngư, Omachi, Kokomi, and Wake-Up 247 each generate over 100 million USD in annual revenue, ensuring stable demand and high profit margins.

From 2017 to 2024, MCH’s revenue grew at a CAGR of approximately 10-13%, while EBITDA margins remained around 26%, an increase of over 400 basis points since 2017—among the highest in Southeast Asia. This highlights sustainable operational efficiency and superior cost control, enabling the company to sustain growth even during market volatility.

Additionally, MCH consistently reinvests in innovation, allocating approximately 3% of its annual revenue to research and development (R&D). This focuses on creating high-quality, health-conscious products tailored to both domestic and international consumer preferences. This approach strengthens the company’s competitive edge in the local market while laying the groundwork for international expansion.

Masan Consumer’s unique advantage lies in its fully integrated operating model, spanning production, distribution, and consumption. The company operates internationally certified factories (ISO, FSSC, HACCP, BRCGS) and a network of over 313,000 traditional retail points and 8,500 modern outlets, optimizing operational costs, ensuring product quality, and enabling large-scale distribution.

This integrated model allows MCH to tightly control input costs, optimize inventory, and maintain high profit margins, even during economic fluctuations. This creates a positive financial cycle: operational efficiency generates strong cash flow, stable cash flow enables consistent dividend payments, and shareholder confidence drives further investment. This foundation not only sustains long-term profitability but also enhances the company’s value and appeal to long-term investors.

However, maintaining this efficiency requires continuous investment in technology, data, and talent to sustain productivity as the company scales rapidly.

A Long-Term Value Stock

With a solid financial foundation, abundant cash flow, and consistent dividend policy, Masan Consumer is recognized as a leading stock in Vietnam’s consumer goods sector—representing companies with high profitability, low risk, and long-term growth potential.

Paying out nearly 1.2 billion USD in cash dividends from 2018 to 2025 not only demonstrates Masan Consumer’s financial strength and operational efficiency but also reinforces its commitment to shareholders on the path to sustainable growth.

“MCH is a stock with fundamental, core, and sustainable value. Thanks to Masan Consumer’s innovation, the stock has the potential for exceptional growth,” said Mr. Phạm Đình Toại, Deputy General Director of Masan Consumer, in a recent interview.

Moving forward, the company remains committed to its strategy of profitable growth, sustainable development, and maximizing shareholder value, solidifying its position as a visionary Vietnamese brand with global aspirations.

Minh Tài

– 07:00 28/11/2025