Thai Beverage Public Co., Ltd. · SGX:Y92
Thai Beverage Public — Thai Beverage Pcl Ord — Q2 2025 Earnings Presentation
27 slides from Thai Beverage Public's earnings presentation, May 9, 2025
Slide 1: Thai Beverage PLC 1H25 Financial Results
THAI BEVERAGE PLC 1H25 FINANCIAL RESULTS (First Half ended 31 March 2025) 1H25 (First Half ended 31 March 2025) Copyright © Thai Beverage Public Company Limited
Slide 2: Note on Forward Looking Statements
NOTE ON FORWARD LOOKING STATEMENTS • The following presentation may contain forward looking statements by the management of Thai Beverage Public Company Limited ("ThaiBev"), relating to financial or other trends for future periods, compared to the results for previous periods. • Some of the statemen
Slide 3: Agenda
1 1H25 PERFORMANCE HIGHLIGHTS 2 BUSINESS SEGMENT RESULTS 3 FINANCIAL INFORMATION 1H25 (First Half ended 31 March 2025) Copyright © Thai Beverage Public Company Limited
Slide 4: 1H25 Performance Highlights
1H25 PERFORMANCE HIGHLIGHTS Sales Revenue EBITDA Net Profit Attributable Profit 177,617 31,111 17,769 14,710 Million Baht Million Baht Million Baht Million Baht 1.0% 5.3% 9.2% 3.2% KEY HIGHLIGHTS ● Sales revenue grew by 1.0% to Baht 177,617 million, mainly ● Net profit declined by 9.2% to Baht 17,76
Slide 5: Interim Dividend Payment
INTERIM DIVIDEND PAYMENT Interim’25 Interim’24 (Oct’24 – Mar’25) (Oct’23 – Mar’24) Attributable Profit to Owners of the Parent 14,710 15,191 Million Baht Million Baht Number of Shares 25,130 25,128 Million Shares Million Shares Interim Dividend 3,770 3,769 Million Baht Million Baht Interim Dividend
Slide 6: Consolidated: 2Q25 & 1H25 Highlights
CONSOLIDATED: 2Q25 & 1H25 HIGHLIGHTS Unit: THB million 2Q25 2Q24 Change 1H25 1H24 Change (Jan'25 - Mar'25) (Jan'24 - Mar'24) (%) (Oct'24 - Mar'25) (Oct'23 - Mar'24) (%) Restated Restated Sales Revenue #DIV/0! #DIV/0! Sales Revenue 85,352 85,832 -0.6% 177,617 175,896 1.0% COGS (58,981) (59,179) (123,
Slide 7: Consolidated: 2Q25 & 1H25 Highlights
CONSOLIDATED: 2Q25 & 1H25 HIGHLIGHTS Unit: THB Million 2Q25 2Q24 Change Change (Jan'25 - Mar'25) (Jan'24 - Mar'24) (%) Restated Sales 85,352 85,832 (480) -0.6% Gross Profit 26,371 26,653 (282) -1.1% EBITDA 14,667 15,881 (1,214) -7.6% Second Quarter Net Profit 8,083 9,167 (1,084) -11.8% ended Attribu
Slide 8: Contribution per Business Segment
CONTRIBUTION PER BUSINESS SEGMENT 100.0% 1H25 Sales Revenue 177,617 1H25 EBITDA 50.3% Million Baht 31,111 26.3% 19.7% 100.0% Million Baht 3.8% -0.1% Spirits Beer Non-Al Food Others* Total Beverages 100% 36.3% 37.3% 65.3% 18.8% 1H25 Net Profit 6.3% 1.4% 17,769 17.7% 17.5% Million Baht 0.7% -0.1% -1.2
Slide 9: Total Sales Volume
TOTAL SALES VOLUME Unit: Million Litres SPIRITS BEER NON-ALCOHOLIC BEVERAGES 2Q24 2Q25 2Q24 2Q25 2Q24 2Q25 (Restated) (Restated) (Restated) 0.9% 2.6% 831 838 553 567 2.0% 0.7% 4.3% 2.6% 2.8% 1.1% 2.5% 292 297 222 221 153 160 0.8% 15.6% 89 86 73 72 2 2 170 174 RTD Tea and Drinking Water Carbonated FN
Slide 10: Business Segment Results
1 1H25 PERFORMANCE HIGHLIGHTS 2 BUSINESS SEGMENT RESULTS 3 FINANCIAL INFORMATION 1H25 (First Half ended 31 March 2025) Copyright © Thai Beverage Public Company Limited
Slide 11: Spirits 2Q25
SPIRITS 2Q25 Performance SALES REVENUE • An increase in domestic and overseas consumption Unit: THB million 2Q25 2Q24 Change (Jan'25 - Mar'25) (Jan'24 - Mar'24) (%) Restated COGS (%) Sales Revenue 32,282 31,623 2.1% • An increase in raw material costs COGS (21,469) (20,560) % of Sales Revenue 66.5%
Slide 12: Spirits 1H25
SPIRITS 1H25 Performance SALES REVENUE • Impacted by a slow start to the first quarter, despite the Unit: THB million 1H25 1H24 Change pickup in the second quarter (Oct'24 - Mar'25) (Oct'23 - Mar'24) (%) Restated COGS (%) Sales Revenue 64,520 65,499 -1.5% • An increase in raw material costs COGS (42
Slide 13: Spirits: Revenue-Cost Break Down
SPIRITS: REVENUE-COST BREAK DOWN % of 1H25 Total Spirits Revenue 100.0% 10.1% 8.7% 43.9% 1.1% 0.5% 1.4% 11.9% 4.6% 17.8% Total Revenue Raw Material Packaging Excise Tax Labor Depreciation Others SG&A Int. Exp.+ Inc. Net Profit Tax 1H25 (First Half ended 31 March 2025) Copyright © Thai Beverage Publi
Slide 14: Beer 2Q25
BEER 2Q25 Performance SALES REVENUE • Challenging market conditions overseas Unit: THB million 2Q25 2Q24 Change (Jan'25 - Mar'25) (Jan'24 - Mar'24) (%) COGS (%) Restated • A decrease in key raw material costs and improved Sales Revenue 30,094 30,827 -2.4% production efficiency COGS (22,869) (23,764)
Slide 15: Beer 1H25
BEER 1H25 Performance SALES REVENUE • An increase in total sales volume, particularly in the first Unit: THB million 1H25 1H24 Change quarter, despite challenging overseas market conditions in the (Oct'24 - Mar'25) (Oct'23 - Mar'24) (%) second quarter Restated COGS (%) Sales Revenue 66,201 64,263 3.
Slide 16: Beer: Revenue-Cost Break Down
BEER: REVENUE-COST BREAK DOWN % of 1H25 Total Beer Revenue 100.0% 15.4% 13.4% 43.0% 0.9% 1.3% 1.5% 15.2% 5.0% 0.4% 4.7% Total Raw Material Packaging Excise Tax Labor Depreciation Other SG&A Int. Exp.+ Inc. Share of Net Profit Revenue Tax profit* * Share of profit of investment in associates and join
Slide 17: Non-Alcoholic Beverages 2Q25
NON-ALCOHOLIC BEVERAGES 2Q25 Performance SALES REVENUE • A change in product mix Unit: THB million 2Q25 2Q24 Change (Jan'25 - Mar'25) (Jan'24 - Mar'24) (%) Restated COGS (%) • Impact from product mix Sales Revenue 16,483 16,803 -1.9% COGS (10,463) (10,623) SG&A (%) % of Sales Revenue 63.5% 63.2% • A
Slide 18: Non-Alcoholic Beverages 1H25
NON-ALCOHOLIC BEVERAGES 1H25 Performance SALES REVENUE • An increase in sales volume across all categories Unit: THB million 1H25 1H24 Change (Oct'24 - Mar'25) (Oct'23 - Mar'24) (%) Restated COGS (%) • Lower packaging costs and improved production efficiency Sales Revenue 33,438 32,618 2.5% COGS (21
Slide 19: Food 2Q25
FOOD 2Q25 Performance SALES REVENUE Unit: THB million 2Q25 2Q24 Change (Jan'25 - Mar'25) (Jan'24 - Mar'24) (%) COGS (%) Restated • An increase in raw material costs Sales Revenue 5,456 5,505 -0.9% COGS (3,343) (3,357) SG&A (%) % of Sales Revenue 61.3% 61.0% • An increase in labor and marketing expen
Slide 20: Food 1H25
FOOD 1H25 Performance SALES REVENUE Unit: THB million 1H25 1H24 Change (Oct'24 - Mar'25) (Oct'23 - Mar'24) (%) COGS (%) Restated • An increase in raw material costs Sales Revenue 11,145 11,068 0.7% COGS (6,792) (6,692) SG&A (%) % of Sales Revenue 60.9% 60.5% • An increase in labor and marketing expe
Slide 21: Others 2Q25
OTHERS 2Q25 Performance SALES REVENUE • The impact from appreciation of THB against SGD Unit: THB million 2Q25 2Q24 Change (Jan'25 - Mar'25) (Jan'24 - Mar'24) (%) Restated COGS (%) Sales Revenue 1,095 1,122 -2.4% • An increase in cost effectiveness COGS (882) (916) % of Sales Revenue 80.5% 81.6% SG&
Slide 22: Others 1H25
OTHERS 1H25 Performance SALES REVENUE • A decrease in licensing income and the impact from Unit: THB million 1H25 1H24 Change appreciation of THB against SGD (Oct'24 - Mar'25) (Oct'23 - Mar'24) (%) Restated COGS (%) Sales Revenue 2,438 2,560 -4.8% • A decrease in licensing income COGS (1,915) (1,939
Slide 23: Financial Information
1 1H25 PERFORMANCE HIGHLIGHTS 2 BUSINESS SEGMENT RESULTS 3 FINANCIAL INFORMATION FINANCIAL INFORMATION 1H25 (First Half ended 31 March 2025) Copyright © Thai Beverage Public Company Limited
Slide 24: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION Unit: THB Million ASSETS LIABILITIES AND EQUITY 534,448 527,593 534,448 527,593 Current Assets 389 Current Liabilities 11,743 • A decrease in cash and cash at • A decrease in bank overdrafts and 97,038 financial institutions, and other current 144,747 145,136 short-te
Slide 25: Interest-Bearing Debt
INTEREST-BEARING DEBT (From Banks, Debentures, Bonds and Others) Unit: THB Million 31-Mar-25 30-Sep-24 Change Current Bank overdrafts and short-term loans from financial institutions 15,762 26,129 (10,367) Current portion of debentures and bonds 22,132 26,130 (3,998) Current portion of long-term loa
Slide 26: Financial Ratios
FINANCIAL RATIOS RATIOS 31-Mar-25 30-Sep-24 Current Ratio (times) 1.49 1.33 Liability to Equity Ratio (Gearing Ratio) (times) 1.32 1.30 Interest Bearing Debt to Equity Ratio (times)* 1.03 1.02 Net Interest Bearing Debt to Equity Ratio (times)* 0.81 0.79 Interest Bearing Debt to EBITDA (times)* 3.97
Slide 27: 1H25 (First Half ended 31 March 2024) Copyright © Thai Beverage Public Company Limited
1H25 (First Half ended 31 March 2024) Copyright © Thai Beverage Public Company Limited
Thai Beverage Pcl Ord — Q2 2025 Earnings Presentation on 6ix