Masan Consumer reveals HSX listing roadmap

The company stated that the migration to HSX is scheduled for December, marking a significant milestone in its capital market journey. The event comes as Vietnam's fast-moving consumer goods (FMCG) sector enters a new growth cycle, supported by rising disposable income, an expanding middle class, and increasing demand for higher-quality consumer products.

Over nearly three decades, Masan Consumer has built one of Vietnam's most extensive FMCG brand ecosystems. According to Kantar Worldpanel, 98 per cent of Vietnamese household use at least one Masan Consumer product. The company leads approximately 80 per cent of core seasonings and convenience food categories, including fish sauce, soy sauce, chilli sauce, instant noodles, instant coffee, and coffee-flavoured energy drinks.

From 2017 to 2024, the company achieved a revenue compound annual growth rate (CAGR) of approximately 13 per cent, while maintaining operating profit margins above 23 per cent despite macro volatility. During 2022-2024, net profit continued to compound at roughly 20 per cent per year, underscoring the company's strengthening earnings power.

Sustained financial performance across multiple cycles has positioned Masan Consumer among Southeast Asia's leading FMCG companies, comparable to regional peers that consistently deliver double-digit revenue CAGR and net profit margins above 20 per cent.

These financial results were underpinned by strategic growth drivers that have strengthened the company's long-term competitive advantages. In particular, premiumisation has emerged as a defining trend in Vietnam's FMCG industry. Masan Consumer has led this transformation by expanding consumption occasions and enhancing value propositions across categories.

CHIN-SU (seasonings category), the brand has evolved from traditional dipping sauces to a full cooking solution portfolio, including marinades, cooking sauces, and integrated meal-prep products,⁠ significantly increasing household penetration and market size. Meanwhile, with Omachi (convenience foods category), the company accelerated the shift from a $1 billion instant noodle market to the $17 billion premium convenient meal space, capturing higher-value consumption.

Five power brands –⁠ CHIN-SU, Nam Ngu, Omachi, Kokomi, and Wake-Up 247 –⁠ each generate over $100 million in annual revenue, contributing approximately 70 per cent of incremental topline growth. Core innovations typically reach top three market share within two years, far outpacing industry norms, reflecting Masan Consumer's deep consumer insight and national distribution strength. Since 2002, the company has launched more than 1,200 new products, with innovation contributing roughly 20 per cent of revenue during 2017-2024.

The company reaches consumers through nearly 500,000 traditional trade outlets and 10,000 modern retail points nationally. Building on this foundation, Masan Consumer launched the Retail Supreme model in 2024 to enhance control over execution, standardise in-store visibility, optimise inventory, and strengthen engagement with retailers. This tech-enabled model creates an integrated data engine,⁠ enhancing planning assortment, optimising display efficiency, and improving sell-out performance.

Combined with the scale and consumer insight of WinCommerce's WinMart/WinMart+/WiN network, MCH can rapidly test innovations, adjust formulations in real time, and shorten the go-to-market cycle. As Retail Supreme scales nationwide scales, it is expected to become a sustainable competitive advantage, enabling Masan Consumer to serve the evolving needs of over 100 million Vietnamese consumers more efficiently.

From 2018 to 2024, Masan Consumer paid out approximately $1.5 billion in cash dividends to shareholders, while still investing heavily in innovation and distribution expansion. Strong cash flow generation and sustained profitability strengthen the company's position as both a growth and defensive asset within Vietnam's consumer sector.

Beyond the domestic market, Masan Consumer is accelerating its “Go Global” strategy by expanding its footprint across 26 international markets, including the United States, Japan, South Korea, and Australia. International revenue increased at an approximately 16 per cent CAGR from 2022 to 2024, achieving an operating margin of approximately 30 per cent in 2024. The contribution of the international business rose from 1 per cent of revenue in 2020 to 5 per cent in 2025, with a medium-term target of 10-20 per cent.

Commitment to transparency, governance, and sustainable growth

With a strong brand portfolio, solid premiumisation strategy, deep distribution scale, resilient financial foundation, and an experienced leadership team, Masan Consumer is well positioned to maximise long-term shareholder value on HoSE, Vietnam's largest and most trustworthy stock exchange.

Listing on HSX reaffirms Masan Consumer's commitment to operational excellence, enhanced transparency, and best-in-class corporate governance. The listing marks a pivotal milestone that opens a new growth chapter – one where Masan Consumer will continue to strengthen its strategic pillars and deliver sustainable value to consumers and shareholders in the years ahead.

Masan Consumer strengthens its position at home and abroad Masan Consumer has cemented its position as a top fast-moving consumer goods company, shaping Vietnamese consumer habits while expanding its international presence.

New consumer bluechip to debut on HSX: what will MCH bring to the market? Masan Consumer (MCH) will announce detailed information on December 4 regarding its listing plan on the Ho Chi Minh City Stock Exchange (HSX), marking an important milestone in the company's development journey.

Masan Consumer named by Fortune in 100 Best Companies to Work For in Southeast Asia Masan Consumer has been named as the only fast-moving consumer goods (FMCG) company in Vietnam in the 100 Best Companies to Work For in Southeast Asia announced by Fortune on December 2.