In this article:
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Total Sales Revenue: THB340,289 million, an increase of 2.2% year-on-year.
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Net Profit: THB35,270 million, an increase of 0.6% year-on-year.
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Dividend: Proposed full year dividend of THB11,810 million or THB0.62 per share, with a payout ratio of 53.9%.
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Spirits Business Sales Revenue: THB120,728 million, up 0.8% year-on-year.
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Spirits Business Net Profit: THB21,385 million, a decline of 4.6% year-on-year.
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Beer Business Sales Revenue: THB126,332 million, an increase of 2.4% year-on-year.
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Beer Business Net Profit: THB5,221 million, a 3.9% increase year-on-year.
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Nonalcoholic Beverage Sales Revenue: THB65,802 million, a 4.2% increase year-on-year.
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Nonalcoholic Beverage Net Profit: THB5,934 million, a 9.3% increase year-on-year.
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Food Business Sales Revenue: THB22,288 million, a 5.5% increase year-on-year.
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Food Business Net Profit: THB301 million, a decline due to higher costs and expenses.
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Other Business Sales Revenue: THB5,400 million, a decline of 6.6% year-on-year.
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Other Business Net Profit: THB2,429 million, includes share of profit from Fraser Property Limited.
Release Date: November 21, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Thai Beverage PLC (TBVPF) reported a 2.2% increase in total sales revenue for the fiscal year 2024, driven by growth in both beverage and food segments.
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The beer business saw a 2.4% year-on-year increase in sales revenue, supported by a rebound in tourism and higher beer consumption due to warmer weather.
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The nonalcoholic beverage segment experienced a 4.2% rise in sales revenue, attributed to successful brand building and distribution expansion.
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The company proposed a higher dividend for the full year 2024, translating to a payout ratio of 53.9% of profit attributable to shareholders.
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Operational efficiencies and effective brand and marketing investments contributed to improved net profit in the beer segment, with a 3.9% increase compared to the previous year.
Negative Points
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The spirits business reported a 4.6% year-on-year decline in net profit due to higher raw material costs and increased investment in brand and marketing activities.
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The food business, despite a 5.5% increase in sales revenue, saw a decline in net profit due to higher raw material costs and operational expenses.
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The group's other business registered a 6.6% decline in sales revenue from the publishing and printing segment, impacted by lower international demand.
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Higher investment in brand and marketing activities led to increased costs, affecting overall profitability.
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The company faced challenges with the spirits segment, particularly with brown spirits, which experienced a decline in consumption earlier in the year.