Masan Group maintains strong standing in Forbes list

Enacting the roster of the top 50 listed companies for 2023 involves a comprehensive evaluation process applied to enterprises listed on both the Ho Chi Minh City Stock Exchange and the Hanoi Stock Exchange. Beyond the initial phase, companies must satisfy the subsequent criteria: recording profits in 2022, achieving a minimum revenue and capitalisation of VND500 billion ($20.9 million).

Businesses are subjected to a quantitative scoring process based on five key parameters spanning 2018 to 2022: compound growth rate of revenue, profitability, return on equity ratio, return on capital, and earnings per share growth.

This is followed by an analytical assessment by Forbes Vietnam, which delves into the sustainable advancements of enterprises, encompassing factors such as industry standing, profit sources, the effectiveness of corporate governance, and industry prospects.

Amidst a real estate market and a downturn in domestic consumption, sectors like vital consumer goods, food, logistics, and technology have surged to prominence. The year 2022 witnessed an unprecedented achievement in listed companies' earnings, with the overall spectrum and the top 50 listed companies listing remarkable results.

The combined post-tax profit of these 50 firms surged to VND228.1 trillion ($9.57 billion), marking an impressive 18 per cent increase compared to the previous year's roster. Esteemed private enterprises like Masan Group and Techcombank continued their upward trajectory, setting records and witnessing significant profit escalation.

The year also witnessed remarkable achievements for Masan, highlighted by significant growth in various aspects. On a like-for-like basis, Masan's net revenue surged to VND76.2 trillion ($3.2 billion), marking a 2.6 per cent increase from the previous year's VND74.2 trillion ($3.1 billion).

Additionally, the group's earnings before interest, taxes, depreciation, and amortisation (EBITDA) for 2022 reached an impressive VND14.4 trillion ($604.5 million).

While in the initial six months of 2023, Masan demonstrated resilience in its business performance, navigating through the challenging macroeconomic landscape. Notably, it achieved a net revenue of VND37.3 trillion ($1.56 billion) during this period, reflecting a remarkable 3.6 per cent surge from about VND36 trillion ($1.5 billion) achieved in the corresponding span of 2022.

The operating profit of The CrownX (TCX), Masan's integrated retail consumer platform, experienced a remarkable on-year growth of 38.8 per cent. This exceptional progress was underpinned by the robust underpinnings of its consumer goods enterprise.

During the first half of 2023, TCX achieved revenue of VND26.8 trillion ($1.12 billion), reflecting a 3.1 per cent growth compared to the corresponding time. In the second quarter alone, TCX's revenue stood at VND13.5 trillion ($566 million), marking a robust increase of 7.6 per cent over the same period.

TCX's EBITDA for the first six months of 2023 amounted to VND3.5 trillion ($146.9 million), indicating a significant 10.3 per cent rise compared to the previous year. Similarly, in the second quarter, its EBITDA reached VND1.97 trillion ($82.7 million), showcasing an impressive 28.3 per cent increase over the corresponding period last year.

Masan MeatLife (MML) increased revenue by 70.2 per cent on-year in 1H/2023 and 68.7 per cent on-year in 2Q/2023 thanks to higher topline across all segments and the addition of the processed meat segment. MML revenue increased to VND3.3 trillion ($138.5 million) in 1H/2023, up 70.2 per cent from VND1.94 trillion ($81.4 million) in 1H/2022.

On a like-for-like basis, revenue increased by 22.2 per cent in 1H/2023 thanks to higher sales across all segments.

Based on 1H/2023 performance and the current momentum, Masan expects to deliver VND83.5-90 trillion ($3.5-3.7 billion) in revenue and VND3-4 trillion ($125.9-167.9 million) in net profit after tax in 2023.

As stepping into the latter half of 2023, promising macroeconomic developments have emerged, including the State Bank of Vietnam's interest rate reduction, VAT reduction, and interest rate support initiatives tailored to manufacturing enterprises. These factors hold the potential to yield favourable outcomes for businesses across Vietnam, including Masan.

Since the start of 2023, Masan has consistently gained recognition and accolades from esteemed domestic and global institutions through prestigious awards. Notable honours include being named “Best Place to Work For in Asia 2023” (HR Asia Award), securing a position in the “Top 50 Sustainable Enterprises 2023” (Nhip Cau Dau Tu magazine), and being acknowledged among the “Top 50 Prestigious & Effective Public Companies 2023” (Vietnam Report).

Masan's net revenues reach $1.57 billion in first half of 2023 Masan Group Corporation (HSX:MSN) on July 28 released its unaudited management accounts for the first half of 2023, when challenging macro conditions continued to put a dent in both consumer and business confidence.

Masan High-Tech Materials ready for resilient manufacturing Masan High-Tech Materials (MHT), the global leader in providing advanced tungsten materials used in key industries, is actively resuming business after the pandemic, focusing on innovation, sustainability, and resilience.

Masan Group named one of the Best Companies to Work for in Asia At the HR Asia Awards ceremony, Masan Group was honoured as one of the Best Companies to Work for in Asia. At the same time, the company also won the special award category of HR Asia Diversity, Equity, and Inclusion.