Masan Group, listed on the Ho Chi Minh Stock Exchange under the ticker MSN, is a leading consumer goods-focused conglomerate based in Vietnam. It operates across multiple sectors including food and beverage, retail, financial services, and technology.
In December 2019, Masan Group acquired convenience store and supermarket chains Vinmart, Vinmart+, and VinEco from Vietnam’s biggest conglomerate Vingroup. This saw the company double its revenue in 2020, however, its profits decreased by 80 percent due to a significant increase in expenses.
Profits rebounded in 2021, primarily driven by financial gains from the divestment of its animal feed segment. The company’s stock price also experienced a 3.3-fold surge between October 2020 and December 2021. In 2022 and 2023, Masan recorded stable revenue, but profits declined again, as a result the stock price fell by approximately 50 percent from its peak.
As of the second quarter of 2024, Masan Group’s net revenue was up by 8.2 percent year-over-year, driven by its core retail consumer businesses. This was in part credited to Masan Consumer Corporation, which trades under ticker MCH on Vietnam’s Unlisted Public Companies stock market. This subsidiary has consistently had high profit margins and steady revenue growth, outperforming peers in the fast-moving consumer goods sector. MCH accounts for about 52 percent of Masan Group’s total worth.
Of note, in June, it was reported that South Korea’s SK Group was in the process of selling its stake in Masan.
Disclosure: The author does not have any financial interest in MSN stock.
See also: Shopping in Vietnam: Quick Guide 2024