A new mini mall store concept underpinned by Masan’s Point of Life strategy will be launched in the third quarter. — Photo courtesy of Masan

HCM CITY — Masan Group Corporation’s consolidated net revenues for the first half of the year were VNĐ36.02 trillion (US$1.55 billion), a decline of 12.5 per cent from the same period last year mainly due to deconsolidation of the feed segment.

Excluding 2021 feed revenues to enable a like-for-like comparison, net revenues grew by 9.1 per cent, driven by growth at Masan High-Tech Materials (MHT) and high single-digit growth at Masan Consumer Holdings (MCH).

Its consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew by 17.5 per cent to VNĐ7.34 trillion ($315.6 million).

Net profit after tax before minority interest (NPAT pre-MI) grew by 122.7 per cent on a reported basis and 211.8 per cent on a like-for-like basis in the first half to VNĐ3.11 trillion.

NPAT post-MI grew by 163.3 per cent on a reported basis and 345.4 per cent on a like-for-like basis to VNĐ2.58 billion.

The CrownX (TCX), Masan’s integrated consumer-retail ecosystem that consolidates WinCommerce (WCM) and MCH, grew net revenues by 2.2 per cent to VNĐ26.03 trillion.

Despite a challenging inflationary environment, TCX delivered nearly VNĐ3.18 billion in EBITDA and VNĐ1.15 trillion in NPAT pre-MI, up 11.7 per cent and 68.7 per cent.

WCM opened five WinMart supermarkets and 301WinMart+ minimarkets in the first half to increase their numbers to 127 and 2,873.

Its revenues fell by 1.1 per cent to VNĐ14.31 trillion, while EBITDA was VNĐ315 billion, up 5.7 per cent, primarily as a result of total commercial margins improving.

MCH achieved net revenues of VNĐ12.36 trillion and EBITDA of VNĐ2.85 trillion, up 7.7 per cent and 11.5 per cent.

All major categories delivered growth in the first half with strong performances from processed meat, coffee and beer, which grew at 57.8 per cent, 33.1per cent and 19.3 per cent.

Phúc Long Heritage will accelerate opening of high performing flagship stores to generate revenue and profit growth. — Photo courtesy of Masan

Phúc Long Heritage (PLH)’s revenues were up by 38.5 per cent to VNĐ820 billion.

Masan MEATLife’s (MML)’s sales declined by 81 per cent to VNĐ1.94 trillion in the first half as a result of deconsolidation of the feed business. On a like-for-like basis, excluding the feed segment’s contribution, MML’s net revenues were down 6.1 per cent despite higher meat sales volumes as pig prices lower.

MHT delivered net revenues of VNĐ8.12 trillion, up 33 per cent, and EBITDA of VNĐ1.82 trillion, up 52.6 per cent, driven by rising commodity prices and strong demand.

To cement its strategy of becoming a high-tech value-added business and creating a circular economy for tungsten and battery materials, H.C. Starck Tungsten Powders, a subsidiary of MHT, invested 45 million British pounds ($53.2 million) to acquire a 15 per cent stake in Nyobolt Limited in H1, a fast-charging, high power, low degradation battery solutions company that leverages MHT’s advanced tungsten materials in its anode.

Techcombank, a Masan associated company, reported VNĐ14.1 trillion in profits before taxes, up 22.3 per cent.

During the second half of the year Masan will focus on initiatives to deliver the most optimal financial results in 2022 in light of the current consumer environment while still advancing its consumer-tech strategy.

WCM plans to open over 800 new stores during the second half, including 100 franchised stores.

It will also continue to optimise total commercial margins, product assortment, promotion schemes, and operating costs to protect profitability.

A new mini mall store concept underpinned by Masan’s Point of Life strategy will be launched in the third quarter.

New concepts to integrate Masan’s various offerings and capabilities (existing and soon to be announced) will set the foundation for a new growth engine.

MCH will focus its R&D efforts on a few key categories such as seasonings, convenience foods and processed meats to generate big wins, while continuing to build on its current momentum in beverages, coffee and beers.

PLH will speed up opening of high performing flagship stores to generate growth in revenues and profits.

New menus will be rolled out nationwide to improve kiosks’ performance.

MML plans to expand its distribution network outside of WCM while targeting different customer segments within WCM’s catchment area. — VNS