Masan Group reports $377.31 million profits for 2021

Thursday, Jan 20, 2022 16:15

A staff of Winmart supermarket. — Photo

Masan Group Corporation’s consolidated net revenues increased by 14.8 per cent in fiscal 2021 to VND88.63 trillion (US$3.9 billion), driven by strong topline growth across nearly all businesses, preliminary unaudited financial results for the year released on January 19 show.

Consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) were up 57.7 per cent to VND16.28 trillion ($717.89 million).

Net profit post minority interest grew by 593.8 per cent to VND8.56 trillion ($377.31 million).

Among its subsidiaries, The CrownX (TCX), an integrated consumer-retail platform that consolidates WinCommerce (WCM) and Masan Consumer Holdings (MCH), grew net revenues by 6.9 per cent to VND58 trillion.

Its EBITDA was VND7.8 trillion, up 73.1 per cent.

WCM's net revenues were VND30.9 trillion, relatively flat despite starting 2021 with 618 fewer stores than at the start of 2020.

While COVID-19 limited store expansion, it was able to open 388 new WinMart+ minimarkets in 2021.

EBITDA was VND1.1 trillion compared to a loss of VND1.23 trillion in 2020.

MCH’s net revenues grew by 20 per cent to VND28.76 trillion, and EBITDA by 19.1 per cent to VND6.85 trillion.

Masan MEATLife grew net revenues by 17.2 per cent.

Masan High-Tech Materials delivered VND13.56 trillion in net revenues, up 86 per cent, and EBITDA of VND3.03 trillion, up 111.6 per cent and with strong year-end profitability momentum. — VNS

Comments (0)