Masan Group Corporation provided consolidated earnings guidance for the full year of 2022. On a preliminary basis, subject to change and customary corporate approvals, Masan's fiscal year 2022 financial forecast expects consolidated net revenue to be between VND 90 trillion and VND 100 trillion, representing a growth of 22% and 36%, compared to VND 74.2 trillion (excluding feed segment revenue) in fiscal year 2021. In fiscal year 2021, revenue contribution from only consumer businesses (excluding feed and MHT) was 68%, which is expected to improve to 85% in fiscal year 2022.

NPAT Pre-MI is expected to be within the range of VND 6.9 trillion and VND 8.5 trillion, a growth of 82% to 124% compared to VND 3.8 trillion in fiscal year 2021 (which excludes one-time gains/losses and feed segment contribution in 2021). The Crown X expects to deliver net revenue within the range of VND 68 trillion and VND 76 trillion in fiscal year 2022, up 17% to 31% compared to fiscal year2021. WCM is expected to deliver net revenue within range of VND 38 and 40 trillion in fiscal year 2022, up 23% to 29% YoY driven by revenue growth in existing stores and expansion of store count.

Expansion of new formats, focus on fresh products, private label, and expansion of CVLife model will provide further growth drivers. Target to increase profitability through better supplier terms, lower logistics costs and improved distribution capabilities. MCH's net revenue is expected reach between VND 34 and 40 trillion in fiscal year 2022, up 18 to 39% versus fiscal year 2021, driven by premiumization, growth of core categories, innovations, and expanded availability at WCM's location and other modern trade retailers.

MML expects to deliver net revenue between VND 5 and 6.5 trillion, up 11 to 45% YoY (excluding feed segment), driven by expanded branded pork and chicken product portfolio and increased distribution through WCM's locations. Profitability is expected to improve with higher utilization rates and growth in processed meat sales. MHT expects to deliver net revenue between VND 14.5 and 15 trillion, up 7 to 11% on the back of continued improvement to tungsten market fundamentals in 2022 and strength in commodity markets in general.

TCB: Masan believes the bank will be able to deliver consistent earnings growth and has reflected this view into its preliminary forecast for fiscal year 2022.