MSN_Flash note 24.04.2026

MSN held Annual General Meeting of Shareholders (AGM) on April 24, 2026, with the following key highlights:

2026 Business Results:

In Q1/2026, MSN revenue was VND 24,019 billion (+27% yoy), and Profit After Tax (PAT) was VND 1,973 billion (+100% yoy).

For the full year 2026, Masan Group submitted its financial plan to the AGM, targeting a revenue of VND 93,500 – 98,000 billion (15% – 20% growth) and expected PAT of VND 7,250 – 7,900 billion (7% – 17% growth).

Masan Consumer (MCH):

Q1/2026 revenue reached VND 8,473 billion (+13.1% YoY), driven by Seasonings, Convenience Foods, and Home & Personal Care (HPC) products, which grew by 17.1%, 14.0%, and 34.2% YoY, respectively. Notably, fish sauce was the primary growth driver in the Seasonings category, accounting for approximately 80% of the total YoY growth. The premium segment continued to lead the Convenience Foods category, achieving an 18% YoY growth. MCH aims to maintain a gross profit margin around 42% in 2026.

Quick Assessment: We expect MSN to achieve a growth rate of over 20% in 2026. This growth is anticipated to come primarily from MCH, alongside the plan to open over 1,500 stores per year, with the Premium Foods segment expected to help lead MCH’s growth.