Masan targets 10-20% of revenue from the global market

On April 25, Masan Group and two member companies, Masan Consumer and Masan MEATLife, co-organized the 2024 Annual General Meeting of Shareholders.

The General Director of Masan Group emphasized his commitment to operating the company effectively and constantly focusing on profit growth since betting on a modern retail network in 2019, which is also the time to build a foundation for Masan's consumer-technology platform, The CrownX (TCX).

"We plan to increase shareholder value for Masan Consumer in the short term and WinCommerce in the medium term. Masan not only focuses on growth but also increases profits in the next 18 - 24 months," said Mr. Danny Le.

Mr. Truong Cong Thang, General Director of Masan Consumer Holdings (MCH), said the company's vision is: "Every Vietnamese family, every Masan product. Every world family, at least one Masan product."

MCH has successfully built five strong brands with annual revenue from USD 150 million to 250 million: Kokomi, Omachi, Chin-su, Nam Ngu, and Wakeup 247, contributing to 80% of total revenue growth.

MCH aims to expand its target market further by providing consumers with premium at-home and restaurant meal replacement products.

Masan Consumer's goal is to own USD 6 billion in brands, implement the "Go Global" strategy, and become the leading company in Southeast Asia in terms of revenue and profit growth.

According to the "Go Global" strategy, Masan Consumer aims to achieve 10 - 20% of revenue from the global market, bringing Vietnamese brands to the world.

Mrs. Nguyen Thi Phuong, General Director of WinCommerce (WCM), said that the business has completed restructuring in 2023, helping revenue increase to VND 7,957 billion and grow 9% in the first quarter of 2024

painting. WCM is committed to serving modern retail channels and rural markets and will own more than 4,000 stores by the end of 2024.

In the first quarter of 2024, WCM's Membership program attracted more than 8.5 million members and opened 1 million new Techcombank accounts.

In 2024, Masan expects consolidated net revenue from VND 84,000 to 90,000 billion, growing from 7% to 15% over the same period last year. Profit after tax is about VND 2,290 to 4,020 billion, growing strongly compared to VND 1,950 billion in 2023.