Thai Beverage (ThaiBev) has reported revenue of 92.27 billion baht ($3.68 billion) for the 1QFY2025 ended Dec 31, 2024, 2.4% higher y-o-y on a restated basis after the consolidation of Fraser and Neave (F&N) in September 2024.
The higher revenue was attributed to “satisfactory improvement” from the group’s beer and non-alcoholic beverage (NAB) businesses.
Total ebitda dipped by 0.8% y-o-y to 16.44 billion baht mainly due to the lower ebitda in ThaiBev’s spirits, food and “others” segments offset by increases in beer and NAB.
Revenue for ThaiBev’s beer business rose by 8% y-o-y to 36.11 billion baht as total sales volume increased across all of the group’s key markets. Ebitda rose by 16.6% y-o-y to 4.43 billion baht driven from lower raw material costs and effective brand investments and market activities.
ThaiBev’s spirits business saw revenue decline by 4.8% y-o-y to 32.24 billion baht as total sales volume fell by 6.2% y-o-y. Ebitda dropped by 12% y-o-y to 7.95 billion baht due to higher raw material costs and marketing spend for its new product launch.
Revenue for the NAB business rose by 7.2% y-o-y to 16.96 billion baht as total sales volume increased by 7.5% y-o-y across all categories in all key markets. Ebitda rose by 15.6% y-o-y to 3.33 billion baht due to better efficiency in production and favourable cost environment.
The food business saw revenue increase by 2.2% y-o-y to 5.69 billion baht. The higher revenue was attributed to the group’s continued efforts to increase brand visibility and accessibility through store openings. However, ebitda fell by 6.6% y-o-y to 662 million baht due to higher raw material and labour costs.
The group’s “others” business, which comprises its publishing and printing segment), saw revenue decline by 6.6% y-o-y to 1.34 billion baht mainly from lower licensing income and title rights. As a result, ebitda plunged by 55.1% y-o-y to 66 million baht.
As at Dec 31, 2024, cash and cash at financial institutions stood at 60.6 billion baht.
Shares in ThaiBev closed 1.5 cents lower or 2.91% down at 50 cents on Feb 13.
