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Looking back at 2025, Masan demonstrated strong operational optimization. While revenue was flat at 81,621 billion VND, net profit after tax rose to 6,764 billion VND, up more than 58% from 2024.
For 2026, Masan has set its highest business plan to date. The group targets revenue approaching 100,000 billion VND (positive scenario: 98,000 billion VND). After-tax profit is expected to range between 7,250 and 7,900 billion VND.
Momentum into 2026 is reflected in quarterly results. In Q1 2026, consolidated revenue for MSN grew 27.1%, while NPAT Pre-MI (profit after tax before minority interests) rose twofold versus the same period.
Growth was spread across Masan’s main pillars: WinCommerce (WCM) profit increased 3.5x, Masan Consumer (MCH) rose 11.5%, Masan MEATLife (MML) increased 66.3%, and Phuc Long Heritage (PLH) grew 80.8%.
A key highlight in the 2026 strategy is the transformation of the WinCommerce system. After losses of 3,700 billion VND in 2019, WCM reduced investment and operating costs per store by 30% (vs 2020) and targets 1,000 billion VND profit in 2026.
WCM’s plan is supported by a profitability margin of 40% and a payback period of under 3 years for a new store. The company is accelerating network expansion with a focus on rural areas, which are expected to account for 70% of new stores. Masan plans to open at least 1,500 new outlets per year, aiming for 13,000 stores by 2030.
The WinCommerce target for 2030 is revenue of 120,000 billion VND with 13,000 stores.
Masan is also digitizing traditional retail via its Retail Supreme platform. MCH is shifting the distribution model from wholesale to local management, helping increase the number of products per order to an average of 5.5 SKU. By the end of 2026, the platform is expected to reach 1 million points of sale.
In parallel, the WIN+ model is supporting 70,000 partner grocery stores, upgrading traditional retail experiences to modern standards.
MCH is accelerating its Mega Brand strategy, targeting the development of 16 mega brands. Meanwhile, MML is expanding into processed and marinated meat products, referencing a meat market valued at 15 billion USD.
The “Great Connectivity” strategy is expected to generate cash flow of 500 million USD in 2026, with a target of 1 billion USD by 2030 for the Group.
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