From the beginning of the year, despite the challenging macro environment, Masan Group and the ecosystem of member companies have continuously achieved many positive results, stabilized the core business platform, affirmed its position as the Top Vietnamese Corporation in the field of retail and FMCGs. As of the first half of 2023, Masan's total assets reached approximately more than VND 140,858 billion and equity reached VND 37,524 billion. In which, there is VND 13,452 billion in cash and cash equivalents. Besides, in the second quarter of 2023, the Group's free cash flow improved continuously for many quarters, reaching VND 1,665 billion compared to only VND 162 billion in the second quarter of 2022. This result once again proves the stable, synchronous and consistent development of the largest retail consumer ecosystem in Vietnam.

Make achievements on many fields

Right from the start of the year, Masan successfully raised a syndicated loan of up to USD 650 million amid fluctuations in global capital markets, affirming financial institutions' confidence in the Group’s solid business foundation and sound credit profile. The USD loan has an interest rate plus 3.5% with the SOFR reference rate, which equates to an interest rate of 8.0% per annum. With a term of 5 years, this syndicated loan will help Masan increase its long-term capital and strengthen its liquidity. As interest rates decrease and capital market stabilizes, Masan will continue to optimize its balance sheet, reduce interest expenses and debt through strategic implementation steps in the future. In the challenging macroeconomic context, the ability to generate stable cash flow from the production and retail businesses of essential consumer products (such as necessities, instant noodles, condiments, etc.) and access to multiple capital markets will help Masan capture market share and continue to invest in future growth.

Masan Consumer - the "trump card" that contributes to the Group's position as the Top Vietnamese Corporation, continuously penetrates the world market with a series of key products such as Omachi, Vinacafe, and CHIN-SU. With the "Go Global - Around the World" strategy, Masan targets 15% of sales in 2027 coming from national business. Success in the Japanese market and a strong start in Korea is a lever for Masan Consumer's products to easily penetrate and conquer developed markets around the world such as Australia, Europe, and North America. … in the coming time.

WinCommerce joined Masan in 2019 and is currently the largest modern retail platform in Vietnam, continuously marking new steps in the "covering Vietnam" strategy. Accordingly, this company in turn successfully launched 3 new models designed specifically for each core, urban and rural area. While WinMart Premium - a high-end supermarket model, implementing a strategy to improve the shopping experience for middle and high-income classes, the WinMart Urban model is designed specifically for urban areas, suitable to consumption preferences of many different classes of residents. The WinMart + Rural model is researched and built to suit the needs, income and shopping culture of rural and suburban people. With the investment and design of different models for the three geographical regions mentioned above, WinCommerce affirms the pioneering bravery and willingness to innovate of the Top Vietnamese Corporation.

Another key member of the Group - Masan MEATLife continuously recorded daily sales through WinCommerce's retail channels increasing by 45% - 60% from December 2022. Driven by higher sales across all product segments and boosting in the processed meat business, Masan MEATLife revenue grew 70.2% in the first half and 68.7% in the second quarter. Masan MEATLife's revenue increased to VND 3,303 billion in 6 months, up 70.2% from VND 1,941 billion in the first 6 months of 2022.

As Top Vietnamese Corporation, from 2023, Masan also develops standards and processes to bring Phuc Long to the world. According to Masan, flagship stores have brought economic efficiency to the top, in which, profit margin (calculated by EBITDA indicator on revenue) at store and company level reached 31% and 25% respectively, as the highest even when compared with global F&B chains. The ability to generate revenue per store is 2-3 times higher than that of domestic enterprises in the same industry. Even in the first year of operation, each flagship store achieved a profit margin of 26%. With these figures, in 2023, Phuc Long is expected to bring in VND 2,500 billion to VND 3,000 billion, a solid growth of 58% to 90% compared to 2022 thanks to the successful opening of 75 to 90 flagship stores and maintain the sales performance as existing stores. The Group hopes to make Phuc Long the number one tea and coffee company in Vietnam in the next few years thanks to "outstanding efficiency per store unit coupled with accelerating momentum in opening new points of sale".

Win many prestigious awards

The relentless efforts of Masan and its member companies have been recognized and honored with a series of prestigious domestic and international awards, strongly consolidating the position of the Top Vietnamese Corporation.

Recently, Masan Group was honored as the Top 50 Best Listed Companies in Vietnam for the 11th consecutive time. This is an annual program conducted by Forbes Vietnam, to honor companies with the best business activities in each field, whose shares are being traded on the Ho Chi Minh City Stock Exchange (HSX). and Hanoi (HNX). In which, Masan Group (HOSE: MSN) in 2022 recorded net revenue of VND 76,189 billion, up 2.6%, compared to VND 74,224 billion in 2021. Profit before interest, tax and depreciation (EBITDA) in 2022 of this group reached VND 14,437 billion. Along with business development goals, Masan always strives to promote sustainable development and improve the quality of life for Vietnamese people. On June 30, the Group was honored in both categories: Sustainable Resource Management and Outstanding Risk Management Platform in the Ranking of Top 50 Sustainable Enterprises 2023 by Nhip Cau Dau Tu Magazine. The accolade recognizes organizations that have made significant contributions to sustainable development, environmental stewardship, and social equity. At the recent HR Asia Awards, Masan was honored as "Asia's Best Workplace 2023" and won the award category "Enterprise with a diverse, equal and inclusive working environment".

Masan Consumer's key brands were also honored with high rankings in the Top 10 most chosen packaged food brands in Vietnam according to Vietnam Brand Footprint 2023 of Kantar Worldpanel. CHIN-SU brand has excelled to the second in urban areas and the third in rural areas. Consecutively appearing in the rankings since 2016, starting with the top 10 position, CHIN-SU over the years has gradually risen to receive the top 3 "sweet fruits", these talking numbers once again confirm the class of the leading brand in the industry: flexibly grasping consumer tastes and constantly innovating in all aspects to conquer many different customer segments with outstanding quality products and excellent taste, become a brand chosen by the majority of users. Meanwhile, the Nam Ngu brand still excellently maintained its impressive leading position in rural areas and ranked third in urban areas. For the consumer goods industry with too much competition, building consumer loyalty is not easy and Nam Ngu has succeeded in continuously maintaining the position of the top 3 most chosen brands in Viet Nam. Winning this award chosen by customers is a great motivation for the brand to continue to innovate and improve product quality, bringing customers with new and wonderful experiences from Nam Ngu fish sauce.

Masan Hightech Materials is no less competitive when it reaches the Top 50 Excellent Vietnamese Enterprises in 2023, and the Top 10 Vietnam Innovative and Effective Enterprises in 2023 (VIE 10), thanks to many outstanding technological achievements in the field of manufacturing high-tech building materials, serving key industries around the globe.

Prestigious awards are not only meaningful to the credibility of a Top Vietnamese Corporation but also an important key for consumers to decide to use a brand's products and services. Additionally, this factor plays a role in solidifying the brand's reputation in the global capital market. Recently, one of the world's leading and oldest companies in financial services, investment banking and wealth management, J.P. Morgan has forecasted the growth potential of Masan stock (HOSE: MSN). Specifically, J.P.Morgan forecasts that the target price of Masan Group stock in 2024 is VND 102,000, with an average compound annual growth rate of EPS of 36% in the period 2032 - 2025. According to J.P. Morgan, with its leadership position in a large and potential retail market, and capital allocation efforts focused on the core segment of consumer, retail, and the development of the current consumer market, Masan stock has become one of the best representatives for Vietnam's compelling consumer story in the future.

Keep the potential growth in the future

As the Top Vietnamese Corporation, Masan has been steadfast in its strategic initiative towards the goal of increasing the efficiency of the consumer value chain and serving the constantly changing needs of Vietnamese consumers. Based on the first 6 months of the year and the current growth momentum, Masan is expected to achieve revenue of VND 83,500 - 90,000 billion and a net profit of VND 3,000 - 4,000 billion before minority allocation (NPAT Pre-MI) in this year.

Masan's growth roadmap for the period 2023-2025 remains firmly in place with continued focus on the company's three core growth drivers:

Network growth: Capture market share of modern retail and cooperate with traditional retail to serve 30-50 million WIN members.

Membership growth: Increase the size of WIN members both offline and online to 30-50 million. Through the utilization of an online-to-offline network, Masan aspires to reach a membership base of 10 million by 2023 and expand it to 30 million members by 2025.

Spending market share growth: Expand and deepen desires beyond basic needs. Masan aims to provide banking access to 5 million underserved consumers over the next few years.

These growth catalysts will be bolstered by the operational capabilities of Masan's in-house logistics division, known as "The Supra," in conjunction with advanced AI and machine learning technology. Furthermore, in 2023, Masan will introduce Winnie, an AI-driven Smart Point of Sale (PoS) system that automates and enhances inventory management processes.

Masan's vision has stood for many years, enhancing the productivity of value and building a financial foundation for the vast majority of people. In particular, Masan now fully holds the foundation to realize this vision and enhance the position as Top Vietnamese Corporation.

The strong transformation in many fields and the steadfast implementation of strategic initiatives on investment and governance, once again affirm Masan as the Top Vietnamese Corporation: always facing challenges, looking for opportunities amidst market fluctuations, being fierce with the goal, not only focusing on promoting business but also focusing on developing synchronously the elements of corporate governance, human resources and sustainable development.