MCH to be listed on HOSE in 2025 to unlock value
MCH to be listed on HOSE in 2025 to unlock value
According to Michael Hung Nguyen, deputy CEO of Masan Group, the listing transfer will help Masan Consumer unlock its value, enhance operational efficiency, and expand access to capital markets.
A customer purchases consumer products, including those from Masan Consumer Corporation, at a WinMart supermarket. — Photo courtesy of Masan |
Masan Consumer Corporation (UpCOM: MCH), a subsidiary of Masan Group, will transfer its stock trading from the UPCoM to listing on the Hồ Chí Minh Stock Exchange (HoSE) this year, a meeting heard on February 7.
Masan Group Corporation (HOSE: MSN) and Masan Consumer Corporation held investor and analyst meetings to provide updates on their Q4 2024 and full-year 2024 business performance and reveal plans for continued growth in 2025.
According to Michael Hung Nguyen, deputy CEO of Masan Group, the listing transfer will help Masan Consumer unlock its value, enhance operational efficiency, and expand access to capital markets.
However, the company has not yet announced a detailed roadmap, stating that it will assess market conditions, capital needs, and regulatory requirements before making an official decision.
Lê Bá Nam Anh, head of capital markets & strategic initiatives at Masan Group, said Masan Consumer saw revenue growth of 9.4 per cent in 2024 to reach VNĐ30.9 trillion (US$1.22 billion) driven by premiumisation in convenience foods and seasonings, innovations in beverages, and a strong 22.4 per cent year-on-year increase in revenue from international markets.
MCH aims to achieve double-digit revenue growth of 10-15 per cent in 2025, reaching VNĐ33.5 trillion to VNĐ35.5 trillion by executing against strategic growth drivers and developing end-to-end digital supply chain “Retail Supreme”.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) is projected to reach VNĐ8.8 - 9.3 trillion ($347.6 - 367.4 million), growing by 6-12 per cent yoy.
Anh said MCH will continue to focus on premiumisation of its seasoning and convenience food portfolio to extend market leadership in the premium segment by expanding beyond instant noodles into ready meals.
The export segment recorded impressive growth last year. The company will continue to advance its "Go Global" strategy this year by focusing on key markets such as the US, South Korea, Japan and the EU with its seasonings, convenience food and instant coffee portfolio.
The company’s leadership expects overseas markets to remain a key growth driver in the coming years, helping Masan strengthen its position on the global culinary map.
Ending 2024, Masan Group's net revenues and net profit after tax post-minority interest (NPAT Post-MI) were up 6 per cent and 377.5 per cent year-on-year to VNĐ83.2 trillion ($3.28 billion) and approximately VNĐ2 trillion ($79.7 million), respectively.
For 2025, Masan targets to achieve net revenues of VNĐ80-85.5 trillion ($3.1 - 34 billion), representing 7 - 14 per cent year-on-year growth on a like-for-like (LFL) basis after adjusting for the deconsolidation of H.C. Starck Holding GmbH (HCS).
NPAT Pre-MI is projected to be VNĐ4.87 trillion to VNĐ6.5 trillion, reflecting a robust growth of 14 per cent to 52 per cent compared to VNĐ4.27 trillion in 2024.
Masan High-Tech Materials (MHT) could “benefit tremendously” from China’s recent export ban on critical minerals to the US, such as tungsten and bismuth, Anh said, noting that the share prices of many tungsten-related mining companies around the world have rallied 40 per cent.
He also revealed that, “We have signed an agreement with a Vietnamese buyer that guarantees 85 per cent of our copper inventory in fiscal year 2025, so that is very good news for us.”
To continue to optimise the business, MHT has signed a new mining contract, which would give it up to 10 per cent reduction in mining costs, he added.
This year, MHT anticipates an LFL topline growth of 3 per cent to 19 per cent following the deconsolidation of HCS, with a revenue target ranging from VNĐ6.5 trillion to VNĐ7.5 trillion, driven by earnings improvement supported by higher commodity prices. But this does not factor in any upside from the potential price appreciation due to the China ban on export.
