Executive Summary: Masan Group (MSN )

Record Business Results in 2025
Revenue: Reached VND 81,621 billion (an 8.7% increase year-on-year).
Profit: Achieved a record high of VND 6,764 billion, a 1.6-fold increase compared to the same period last year, exceeding the annual plan by 139%.
Financial Position: The Net Debt/EBITDA ratio decreased to 2.74x, reflecting a significantly strengthened balance sheet.

Key Growth Drivers
WinCommerce: Revenue reached nearly VND 39,000 billion (+18.3%); notably, it recorded positive net cash flow for the first time.
Masan MEATLife: Profit surged over 24-fold, reaching VND 619 billion.
Ph&#250;c Long Heritage: Profit increased by over 57% to VND 195 billion.
Masan Consumer: Maintained its leading market position in the consumer goods sector.
Masan High-Tech Materials: Successfully returned to profitability (VND 11 billion).

2026 Outlook and Targets

Revenue Target: Projected between VND 93,500 – 98,000 billion (growth of 15–20%).
Profit Target: Estimated between VND 7,250 – 7,900 billion.
Strategic Focus: Prioritizing digitalization, integrating the consumer-retail ecosystem, and expanding the membership platform.

Executive Summary: Masan Group (MSN )

Record Business Results in 2025
Revenue: Reached VND 81,621 billion (an 8.7% increase year-on-year).
Profit: Achieved a record high of VND 6,764 billion, a 1.6-fold increase compared to the same period last year, exceeding the annual plan by 139%.
Financial Position: The Net Debt/EBITDA ratio decreased to 2.74x, reflecting a significantly strengthened balance sheet.

Key Growth Drivers
WinCommerce: Revenue reached nearly VND 39,000 billion (+18.3%); notably, it recorded positive net cash flow for the first time.
Masan MEATLife: Profit surged over 24-fold, reaching VND 619 billion.
Phúc Long Heritage: Profit increased by over 57% to VND 195 billion.
Masan Consumer: Maintained its leading market position in the consumer goods sector.
Masan High-Tech Materials: Successfully returned to profitability (VND 11 billion).

2026 Outlook and Targets

Revenue Target: Projected between VND 93,500 – 98,000 billion (growth of 15–20%).
Profit Target: Estimated between VND 7,250 – 7,900 billion.
Strategic Focus: Prioritizing digitalization, integrating the consumer-retail ecosystem, and expanding the membership platform.