Masan Group Income Statement

Financials in millions VND. Fiscal year is January - December.

Millions VND. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Jan '21 Jan 1, 2021	2015 - 2019
Revenue	83,219,360	83,177,720	78,251,619	76,189,225	88,628,767	77,217,808	Upgrade
Revenue Growth (YoY)	6.15%	6.30%	2.71%	-14.04%	14.78%	106.72%	Upgrade
Cost of Revenue	57,624,217	58,521,982	56,130,507	55,154,201	66,493,966	59,329,111	Upgrade
Gross Profit	25,595,143	24,655,738	22,121,112	21,035,024	22,134,801	17,888,697	Upgrade
Selling, General & Admin	18,490,127	18,482,349	17,942,357	16,365,853	15,851,307	16,206,983	Upgrade
Operating Expenses	18,490,127	18,482,349	17,942,357	16,365,853	15,851,307	16,206,983	Upgrade
Operating Income	7,105,016	6,173,389	4,178,755	4,669,171	6,283,494	1,681,714	Upgrade
Interest Expense	-6,729,747	-6,911,415	-7,422,409	-5,345,947	-5,259,697	-4,008,435	Upgrade
Interest & Investment Income	1,867,980	1,879,095	1,733,905	878,418	629,639	754,154	Upgrade
Earnings From Equity Investments	4,385,325	4,443,769	3,895,982	4,339,650	3,896,641	2,640,068	Upgrade
Currency Exchange Gain (Loss)	-55,247	-70,287	-36,570	-287,046	208,162	-47,308	Upgrade
Other Non Operating Income (Expenses)	-754,752	-344,854	-120,880	290,939	-33,601	117,604	Upgrade
EBT Excluding Unusual Items	5,818,575	5,169,697	2,228,783	4,545,185	5,724,638	1,137,797	Upgrade
Gain (Loss) on Sale of Investments	50,526	110,698	233,526	642,110	5,699,147	-	Upgrade
Gain (Loss) on Sale of Assets	744,408	744,408	-16,442	-82,865	-22,327	-154,591	Upgrade
Other Unusual Items	-	-	117,107	-	-	1,341,633	Upgrade
Pretax Income	6,613,509	6,024,803	2,562,974	5,147,150	11,488,784	2,324,839	Upgrade
Income Tax Expense	1,836,936	1,752,419	693,047	392,766	1,387,403	929,826	Upgrade
Earnings From Continuing Operations	4,776,573	4,272,384	1,869,927	4,754,384	10,101,381	1,395,013	Upgrade
Minority Interest in Earnings	-2,488,370	-2,273,325	-1,451,232	-1,187,388	-1,538,499	-161,031	Upgrade
Net Income	2,288,203	1,999,059	418,695	3,566,996	8,562,882	1,233,982	Upgrade
Net Income to Common	2,288,203	1,999,059	418,695	3,566,996	8,562,882	1,233,982	Upgrade
Net Income Growth	642.60%	377.45%	-88.26%	-58.34%	593.92%	-77.80%	Upgrade
Shares Outstanding (Basic)	1,507	1,487	1,426	1,420	1,414	1,405	Upgrade
Shares Outstanding (Diluted)	1,507	1,487	1,426	1,420	1,414	1,405	Upgrade
Shares Change (YoY)	5.56%	4.25%	0.39%	0.48%	0.59%	0.42%	Upgrade
EPS (Basic)	1518.22	1344.68	293.62	2511.22	6057.41	878.10	Upgrade
EPS (Diluted)	1518.22	1344.68	293.62	2511.22	6057.41	878.10	Upgrade
EPS Growth	603.48%	357.97%	-88.31%	-58.54%	589.83%	-77.89%	Upgrade
Free Cash Flow	6,434,277	6,426,162	-1,728,334	-7,954,173	-1,661,514	-2,326,863	Upgrade
Free Cash Flow Per Share	4269.14	4322.61	-1212.03	-5599.85	-1175.36	-1655.80	Upgrade
Dividend Per Share	-	-	-	-	1000.000	-	Upgrade
Gross Margin	30.76%	29.64%	28.27%	27.61%	24.98%	23.17%	Upgrade
Operating Margin	8.54%	7.42%	5.34%	6.13%	7.09%	2.18%	Upgrade
Profit Margin	2.75%	2.40%	0.53%	4.68%	9.66%	1.60%	Upgrade
Free Cash Flow Margin	7.73%	7.73%	-2.21%	-10.44%	-1.88%	-3.01%	Upgrade
EBITDA	11,066,281	10,306,344	8,185,311	9,075,694	10,915,173	6,265,703	Upgrade
EBITDA Margin	13.30%	12.39%	10.46%	11.91%	12.32%	8.11%	Upgrade
D&A For EBITDA	3,961,265	4,132,955	4,006,556	4,406,523	4,631,679	4,583,989	Upgrade
EBIT	7,105,016	6,173,389	4,178,755	4,669,171	6,283,494	1,681,714	Upgrade
EBIT Margin	8.54%	7.42%	5.34%	6.13%	7.09%	2.18%	Upgrade
Effective Tax Rate	27.78%	29.09%	27.04%	7.63%	12.08%	40.00%	Upgrade
Revenue as Reported	83,219,360	83,177,720	78,251,619	76,189,225	88,628,767	77,217,808	Upgrade
Advertising Expenses	-	5,251,886	4,492,698	2,940,360	3,308,859	3,071,506	Upgrade

Updated Mar 3, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.