Masan named among Forbes's 50 Best Listed Companies for 11th time

By Thy An   August 20, 2023 | 07:30 pm PT
Masan Group was recognized at the Forbes Magazine's 2023 Top 50 Listed Companies announcement event on Thursday.

This year marks the 11th consecutive year that Masan Group has secured a spot on Forbes's Top 50 Listed Companies list.

Enacting the roster of the top 50 listed companies for 2023 involved a comprehensive evaluation process of enterprises listed on both the HCMC Stock Exchange (HSX) and the Hanoi Stock Exchange (HNX).

Beyond the initial phase, companies must satisfy the subsequent criteria: recording profits in 2022 and achieving a minimum revenue and capitalization of VND500 billion.

Businesses were subjected to a quantitative scoring process based on five key parameters spanning 2018 to 2022: compound growth rate of revenue, profitability, ROE ratio, ROC, and EPS growth.

This was 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 weak real estate market and a downturn in domestic consumption, sectors like 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 VND228,096 billion, marking an impressive 18% increase compared to the previous year's roster.

Private enterprises like Masan Group and Techcombank continued their upward trajectory, setting new records and witnessing significant profit escalation.

The year 2022 witnessed remarkable achievements for Masan, highlighted by significant growth in various aspects.

On a LFL basis, Masan's net revenue surged to VND76,189 billion, a 2.6% increase from the previous year's VND74,224 billion. The group's EBITDA for 2022 reached VND14,437 billion.

For the 11th consecutive time, Masan Group was proud in Forbes Top 50 Best Listed Companies

Masan Group's representative receives the certification. Photo courtesy of Masan Group

During the first six months of 2023, Masan demonstrated resilience in its business performance, navigating through the challenging macroeconomic landscape.

The company achieved a net revenue of VND37,315 billion during the first half, up 3.6% from the VND36,023 billion earned in the same period last year.

The operating profit of The CrownX (TCX), Masan's integrated retail consumer platform, which includes Masan Consolidated WinCommerce (WCM) and Masan Consumer Holdings (MCH), experienced remarkable year-on-year growth of 38.8%.

TCX recorded revenue of VND26,835 billion in the first half, a 3.1% growth compared to the same period last year.

In the second quarter of 2023 alone, TCX's revenue rose 7.6% year-on-year to VND13,535 billion.

TCX's EBITDA for the first six months of 2023 amounted to VND3,507 billion, a 10.3% rise compared to the previous year. In the second quarter of 2023, TCX's EBITDA reached VND1,976 billion, an impressive 28.3% increase over the corresponding period last year.

MML's revenue increase by 70.2% year-on-year in the first half of 2023 to VND3,303 billion, and 68.7% year-on-year in Q2 thanks to the addition of the processed meat segment.

On a LFL basis, revenue increased by 22.2% in H1 thanks to higher sales across all segments.

Based on 2023's H1 performance and the current momentum, Masan expects VND83.5-90 trillion in revenue and VND3-4 trillion in NPAT pre-MI in 2023.

Customers buy products in WinMart

Customers at WinMart. Photo courtesy of Masan Group

Stepping into the later 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 have the potential to yield favorable outcomes for businesses across Vietnam, including Masan.

The company is sturdy to realize business outcomes as market demand bounces back in the foreseeable future.

Since the start of 2023, Masan has consistently gained recognition and accolades from domestic and global institutions through prestigious awards. It was named the "Best place to work for in Asia 2023" (HR Asia Award), securing a position in the "Top 50 Sustainable Enterprises 2023" by Nhip Cau Dau Tu Magazine, and being acknowledged among the "Top 50 Prestigious & Effective Public Companies 2023" by Vietnam Report.

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