Thai Beverage (ThaiBev) has reported sales revenue of 217.06 billion baht ($8.16 billion) for the 9MFY2024 ended June 30, 0.5% higher y-o-y.
The higher revenue was supported by revenue growth in the group’s beer, non-alcoholic beverages (NAB) and food segments, and offset by its spirits segment.
Ebitda for the 9MFY2024 rose by 2.2% y-o-y to 38.6 billion led by growth in beer, NAB and offset by lower ebitda for spirits and food.
ThaiBev’s spirits business saw sales revenue dip by 0.9% y-o-y to 92.8 billion baht as total sales volume fell by 2.7% y-o-y on the back of Thailand’s slow economic activity. Ebitda fell by 1.3% y-o-y to 23.46 billion.
Sales revenue for ThaiBev’s beer business rose by 0.6% y-o-y to 93.79 billion baht even though sales volume fell by 2.9% y-o-y due to the beer business in Vietnam and mitigated by “satisfactory” sales volume growth in Thailand thanks to the country’s tourism recovery. Ebitda rose by 10.2% y-o-y to 11.88 billion baht.
NAB saw sales revenue rise by 4.9% y-o-y to 15.55 billion baht in line with a 5.3% y-o-y growth in sales volume. The higher volume was due to brand building activities and the benefit of warmer weather. Ebitda rose by 2.5% y-o-y to 1.82 billion baht due to an increase in brand investment and marketing activities, partially offset by production efficiency gains and lower packaging costs.
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ThaiBev’s food business reported a 5.1% y-o-y increase in sales revenue to 15.02 billion baht with the business’ ongoing increase in brand visibility and accessibility from the opening of new stores. However, ebitda fell by 0.6% y-o-y to 1.44 billion baht due to rising raw material costs and operating expenses.
As at June 30, cash and cash equivalents stood at 46.42 billion baht.
Shares in ThaiBev closed 0.5 cents higher or 1.01% up at 50 cents on Aug 8.
