Masan delivers 39.5% core profit increase in 9 months
Masan Group, one of Vietnam’s leading private conglomerates, said Friday its January-September core profit after tax soared by 39.5% year-on-year to VND2,105 billion ($84.74 million).
Core profits are those derived from the primary business of a company.

Inside the Masan High-Tech Materials Company’s Nui Phao tungsten facility in Thai Nguyen province, northern Vietnam. Photo courtesy of Masan Group.
In its business report publicized the same day, the Ho Chi Minh City-based corporation said its consolidated EBITDA (earnings before interest, tax, depreciation and amortization) on a like-for-like basis grew by 7.9% year-on-year in the nine-month period to VND10,826 billion (over $436 million). The EBITDA margin reached 19.5% in the period versus 19.2% in the same period last year.
However, on a reported basis, this consolidated EBITDA was down 4.5% year-on-year, Masan said. Techcombank, the group’s associated banking company, contributed VND3,560 billion (nearly $143.4 million) in EBITDA in the nine months, up 23.4% year-on-year.
Based on its January-September performance and current momentum, on a like-for-like basis, Masan expects to deliver VND75,000-80,000 billion (up to $3.22 billion) in total revenues this year, and VND4,800-5,500 billion ($221.5 million) in net profit after tax pre-minority interests (NPAT Pre-MI).
“The updated estimates are lower than the group’s fiscal-year guidance at the beginning of the year, which has been impacted by weaker consumer sentiments and market conditions,” the report stressed.

Nguyen Dang Quang, chairman of Masan Group. Photo courtesy of the corporation.
Masan Group chairman Nguyen Dang Quang said, “With our scale and innovations, I believe our growth trajectory is only in its early phase.”
He explained that his group’s modern grocery stores now accounted for 50% of the nationwide network, which Masan is constantly innovating.
“Next up, we will launch a retail concept catered to rural consumers and unveil our membership program with the end goal of personalizing daily consumer offerings.”
Masan said in its business report Friday that it had closed a $600-million syndicated loan at a competitive interest rate of 6.5% per annum. The loan was oversubscribed by nearly 40 financial institutions. “This transaction highlights Masan’s strong credit profile and unique ability to raise capital at attractive terms, particularly during the current volatile global market conditions.”
Masan’s ecosystem includes integrated retail, agriculture, mining, consumer goods, banking and finance.
Masan Group will issue VND4 trillion ($161 million) worth of non-convertible, unwarranted and unsecured bonds to the public. The issuance, done in two parts of VND2 trillion each with a par value of VND100,000 ($4.03), has been approved by the group’s board of directors.
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