MSN sets $2 billion revenue target for 2015

Monday, May 18, 2015 15:52

Masan Group is one of the most powerful food stuff companies in the local market.— Photo

HA NOI (Biz Hub) – Masan Group Corporation (MSN), one of Viet Nam's largest private sector business groups, announced its record revenue in the first quarter of this year on May 15.

During the period, the group's revenue reached VND3.584 trillion ($164.4 million), with an EBITDA (Earnings before Interest, Depreciation and Tax) of VND930 billion ($42.66 million) and VND57 billion ($2.6 million) net profit after tax.

In comparison with the same period last year, the group said its net revenue, EBITDA, and net profit were up 31.8 per cent, 117 per cent, and 150 per cent, respectively.

The firm has set its target revenue for this year at $2 billion.

According to the group, its subsidiary Masan Consumer earned VND2.627 trillion ($120.5 million) during Q1 this year, up 15.3 per cent over the same quarter last year, driven by growth across seasonings, convenience foods, and beverages.

Meanwhile, acting as a new force to drive growth in a consumption-related sector was the acquisition and establishment of Masan Nutri-Science last April, which was seen as a leading platform to serve Viet Nam's US$6 billion animal feed sector.

Masan Group has also acquired Sam Kim Company, which holds 52 per cent and 70 per cent equity interests in Vietnam French Cattle Feed JSC and Agro Nutrition Company JSC, respectively. The group expects to draw $1 billion in revenue from the industry this year.

At the same time, the group has reported that Nui Phao mine produces approximately 20 per cent of vonframe globally.

Vonframe is one of the most valuable metals required in many industries, such as steel, petroleum, and electrical as well as electronic applications. It is also used for making filaments in light bulbs, glass, ceramics, and paint.

Nui Phao mine, located in northern Thai Nguyen province, produces high-quality products from four minerals – vonframe, fluorspar, bismuth, and copper – which are sold to leading customers across North America, Europe, and Asia.

The group is considering listing Masan Resources in the second half of 2015 to provide greater strategic flexibility and the right shareholder base for long-term growth.

On May 18, each share of MSN closed at VND78,000 ($3.5) on the HCM City Stock Exchange. — VNS

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