Masan Consumer Corporation is a member company of Masan Group. This business manufactures and distributes a wide range of food and beverage products such as soy sauce, fish sauce, chili sauce, instant noodles, instant coffee, instant cereals, and bottled beverages. The company's products are exported to the United States, Canada, Russian Federation, France, Czech Republic, Germany, Poland, Japan, Middle East, Asia, Laos, and Cambodia.
Established in 1996, it was not until 2002 that Masan Consumer really started to enter the consumer market with the soy sauce product “Chinsu”. Since then, this company has grown strongly through M&A activities and has become one of the largest consumer companies in Vietnam.
Masan Consumer is considered the "goose that lays golden eggs" of Masan Group when contributing about 30.5% of revenue and 37.1% of income before tax, interest and deduction (EBITDA) in 2020.
This company participates in most of the FMCG segments, including convenience foods (instant noodles & porridge), condiments (soy sauce, fish sauce, chili sauce), processed meat (pasteurized sausages, pork balls), soft drinks, coffee, cereals and cosmetics. According to Kantar World Panel, 98% of Vietnamese households used at least one Masan Consumer product in 2020.
According to Euromonitor, Masan Consumer has the largest market share in the fish sauce industry with 29.8%, the second largest in the instant noodles industry with 20.0% and the third largest in the energy drink market. In addition, the company also leads in the segment of instant coffee (about 40% market share) with two brands, Vinacafe and Wake up.
To do this, the Masan's subsidiary owns a wide distribution network throughout Vietnam with about 350,000 points of sale, just behind Vinamilk and Sabeco. After Masan's acquisition of Vinmart retail chain from Vingroup, Masan Consumer also received support from Vincommerce (Wincommerce). With 3,000 self-owned selling points, this consumer goods giant can quickly display new products at all Vincommerce retail systems and widely promote the brand at a much lower cost compared to its opponents.
Acecook is a household name to Vietnamese consumers, especially those who love Hao Hao Noodles.
Acecook Vietnam Joint Stock Company was established on December 15, 1993 and officially came into operation in 1995. Nearly 30 years of establishment and development, Acecook has constantly grown to become a leading food company, always standing firmly in the Vietnamese market. Up to now, Acecook Vietnam Joint Stock Company is considered as the leading name in the field of processed food.
Currently, there are more than 50 enterprises producing instant noodles in Vietnam with 70% market share belonging to Acecook Vietnam, Masan and Asia Food. In which, Acecook Vietnam has always led the market share, accounting for about 50% in urban areas and 43% nationwide.
Acecook's products are now present in supermarkets, retail stores, grocery stores, etc. across 63 provinces and cities in Vietnam. They are also exported to about 40 countries around the world, including the US, Japan, Australia, Canada, Germany, France, Korea...
According to the World Instant Noodles Association (WINA), in the last two years, the consumption of instant noodles in Vietnam has increased sharply. In 2018, Vietnam consumed 5.2 billion packages of instant noodles, ranking fifth in the world in terms of instant noodles consumption, after China, Indonesia, India and Japan.
Thanks to the strong development of Hao Hao Noodles, Acecook's revenue recorded a remarkable growth, about VND 9,000-10,000 billion/year. Specifically, in 2015, this business earned VND 7,882 billion. In 2019, this figure increased by nearly VND 2,000 billion, to more than VND 9,800 billion. In 2018, Acecook's profit increased at an average rate of about 20%/year to more than VND 1,300 billion, and this year Acecook's revenue was twice as high as Masan's (VND 4,636 billion), 16 times higher than Miliket's (VND 608 billion). In the period 2016 - 2018, Acecook generated more than VND 3,400 billion in profit.
In 2020 and 2021 when Covid-19 pandemic broke out, Acecook's business situation soared. Due to the large consumption demand of the market and the restriction of people going out as well as the limited availability of food, instant noodles became the first choice for quickness and convenience. According to information from the Vietnam Retailers Association, the rate of increase in consumption of instant noodles in the context of Covid-19 was 67%. Specifically, in March, Acecook's revenue increased by 29% compared to the same period of the previous year, and at the same time increased by 10% compared to February. During the Covid-19 outbreak, this company produced 400,000 - 450,000 boxes of products every day, equivalent to 12 million - 13 million packages.
Calofic Corporation (CALOFIC) is a joint venture between Vietnam Vegetable Oils Industry Corporation (VOCARIMEX) and Wilmar International Group, Singapore. CALOFIC has become a familiar brand for customers and consumers through famous vegetable oil brands such as Neptune, Simply, Meizan, Kiddy, Cai Lan.
Entering the vegetable oil market in Vietnam since 1996 with an initial capital of $22 million and a total investment of $261 million to date, CALOFIC is one of the leading joint venture companies that have established laid the foundation for the vegetable oil production and processing industry in Vietnam. Currently, CALOFIC has 2 production factories located in Quang Ninh province and Ho Chi Minh City with two representative offices in Hanoi and Ho Chi Minh City.
Since its establishment, CALOFIC has continuously promoted product quality, applied many new technologies in production and nurtured many talents for human resources.
CALOFIC has continuously promoted product quality, continuously invested in the construction and installation of modern machinery and equipment, and automated the production of high-quality cooking oil products to serve domestic and international consumption needs.
CALOFIC is currently implementing the end product diversification program. Previously, the company's products were distributed mainly in big cities such as Ho Chi Minh City, Hanoi, and Quang Ninh. But now the distribution network has been expanded. It can be seen that the products of the company are present everywhere from North to South, from rural to urban areas.
Vissan Joint Stock Company (VISSAN), is a member of Saigon Trade Corporation. The company officially started its operation on May 18, 1974. It is currently operating in the field of manufacturing food products made from meat, fresh meat products, and frozen meat products.
In 2021, VISSAN researched and developed a variety of frozen and pelletized product lines to meet the needs of consumers. Along with diversifying product lines, the company also constantly promotes online business through the expansion of the website VISANMART.COM in Hanoi and Da Nang branches, and continues to open more business booths on e-commerce platforms such as TikiNgon, and Pinnow to better serve consumers.
With the right strategic direction and constant efforts, in 2021 the company achieved the following results: total revenue of VND 4,326 billion; pre-tax profit of VND 186 billion; output of fresh food was 15,368 tons and processed food 23,826 tons.
For 2022, the company set a target revenue of VND 5,000 billion, expected profit before tax of VND 170 billion, output of fresh food and processed food of 18,448 tons and 28,000 tons, respectively.
Asia Foods Corporation (Asia Foods) is one of the leading companies in the instant noodle market in Vietnam with an annual revenue of about VND 3,000 billion and a few hundred billion VND of profit after tax.
The explosion of demand for instant noodles brought great benefits to manufacturing companies in this market, including Asia Food.
Established in 1995, Asia Food is currently headquartered in An Phu Ward, Thuan An City, Binh Duong Province and is chaired by Mr. Nguyen Manh Ha, who is also the General Director. However, Mr. Ha is not the largest shareholder of the company as by the end of 2020, he only held 16.41% of the shares, the same ratio as Nguyen Huong Giang. The largest shareholder, holding the controlling power of Asia Food is Mr. Nguyen Manh Cuong with the ownership rate of 65%.
Data shows that in the years 2016 - 2019, the individual net revenue of Asia Foods was relatively stable, fluctuating around VND 3,000 billion VND. Gross profit was quite high, around VND 500 billion to VND 750 billuon. Thus, the average gross profit margin in the above period was about 20%.
In contrast, Asia Foods' profit after tax chart fluctuated wildly during the same period. Specifically, in 2016, the company reported an after-tax profit of VND 620 billion, equivalent to a net profit coefficient of 19.8%, close to the gross profit margin, reflecting the efficiency level in cost management. However, in 2017, profit after tax dropped sharply to only VND 195 billion, down 68%; net profit margin also decreased to 6.6%, down 13.2 percentage points compared to the previous year.
In 2018, profit after tax suddenly skyrocketed to VND 877 billion, 4.5 times higher than the previous year, pulling the net profit coefficient to 31.2%, far exceeding the gross profit margin (18%). In 2019, profit after tax dropped to VND 408 billion, down 53% compared to the previous year.
In terms of assets, in the period 2016 - 2019, the company's total assets did not fluctuate much, averaging about VND 1,800 billion.
Asia Foods has a subsidiary (100% ownership) named Asia Foods Bac Ninh Company Limited, headquartered in Hoan Son commune, Tien Du district, Bac Ninh province. This business was established on February 14, 2006.
Another subsidiary of Asia Foods is Asia Foods III Company Limited. This enterprise was established in November 2008, headquartered in Khanh Binh ward, Tan Uyen town, Binh Duong province.
This company can be considered as one of the key businesses of the Asia Foods ecosystem when it had a revenue of VND 1,654 billion (2018) and VND 1,600 billion (2019).
Cholimex Food Joint Stock Company has participated in the retail market since the late 1980s and is currently one of the leading companies in the food industry. Every year Cholimex Food earns trillions dong from chili sauce and fish sauce.
In 2021, Cholimex Food grew relatively stable despite the Covid-19 pandemic. The total revenue of Cholimex Food reached VND 2,513 billion, reaching 100.5% of the plan, an increase of 11% compared to 2020.
Profit before tax of the company was VND 232.484 billion, reaching 101.1% of the plan, up 4.1% compared to 2020. Realized after-tax profit in 2021 was VND 185.98 billion, reaching 101.08% of the plan and increasing by 4.13% compared to 2020.
By the end of 2021, the company had covered about 80,000 retail counters, 4,000 restaurants, fast food chains and 5,000 supermarkets.
Total assets of the company reached more than VND 1,160 billion, up about 10% compared to the beginning of the year. Nearly half of these are cash and bank deposits.
In 2022, the company set a revenue target of VND 3,000 billion, an increase of 19.4% compared to 2021. Target profit before tax is VND 250 billion, a slight increase of 7% compared to last year.
Vietnam Food Industries Joint Stock Company (Vifon) is a pioneer in the Vietnamese instant food industry. The company initiated the trend of packaging special dishes of three regions of Vietnam such as beef noodle soup, crab noodle soup, crab rice cake, etc.
The company's main products include:
+ Instant food: Instant porridge, cup noodles, vegetarian pho, crab cakes.
+ Condiments: Soy sauce, shrimp soup powder.
With a large production capacity, located on an area of 67,000 m2, Vifon constantly modernizes equipment and technology, invests heavily in research to create many international quality products.
Vifon always carefully considered food hygiene and safety and necessary nutrients in each product before launching into the market.
Henry Tran - VietnamCredit