Singapore · Delayed Price · Currency is SGD Thai Beverage Public Company Earnings Call Transcripts
Fiscal Year 2026
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First half 2026 saw revenue decline 2.5% year-over-year, but EBITDA and net profit from normal operations rose 6.9% and 7.8% respectively, driven by spirits and beer. Beer market share in Thailand remains stable, and cost management is prioritized amid ongoing macroeconomic and raw material risks.
Fiscal Year 2025
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Sales and net profit declined year-over-year due to weaker performance in most segments, except beer, which saw strong profit growth. Favorable raw material costs and government stimulus are expected to support margins and demand in FY2026. Dividend payout ratio increased to 61.4%.
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First-half 2025 revenue rose 1% year-on-year to THB 177.6 billion, with net profit down 9.2% due to weaker spirits and food performance, offset by strong beer growth. Management expects lower input costs and reduced A&P spending in the second half, with deleveraging anticipated post-expansion.
Fiscal Year 2024
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Sales and net profit grew modestly in FY2024, supported by gains in beer and non-alcoholic beverages, while spirits and food faced margin pressure from higher costs. The company increased its stake in F&N, restated prior financials, and expects cost efficiencies and market recovery to support future growth.