Thai Beverage Public Co., Ltd. · SGX:Y92
Thai Beverage Public — H1 2024 Earnings Presentation
26 slides from Thai Beverage Public's earnings presentation, May 2024
Slide 1: Thai Beverage PLC 1H24 Financial Results
THAI BEVERAGE PLC 1H24 FINANCIAL RESULTS (First Half ended 31 March 2024) 1H24 (First Half ended 31 March 2024) Copyright © 2024 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: Understanding This Presentation
UNDERSTANDING THIS PRESENTATION • On 2 October 2023, International Beverage, a direct wholly owned subsidiary of ThaiBev, acquired BevFood Holdings Pte. Ltd. (“BevFood Holdings”) for 51% equity interest in BevFood Holdings. The acquisition has established growth in the business in Cambodia, as well
Slide 4: 1H24 Performance Highlights
1 1H24 PERFORMANCE HIGHLIGHTS 2 BUSINESS SEGMENT RESULTS 3 FINANCIAL INFORMATION 1H24 (First Half ended 31 March 2024) Copyright © 2024 Thai Beverage Public Company Limited
Slide 5: 1H24 Performance Highlights
1H24 PERFORMANCE HIGHLIGHTS Sales EBITDA Net Profit Attributable EPS (Basic) Revenue Profit 147,742 27,890 16,917 15,223 0.61 Million Baht Million Baht Million Baht Million Baht Baht 0.4% 0.2% 4.9% 5.6% 5.6% KEY HIGHLIGHTS ● Sales revenue remained flat at -0.4% YoY amidst a challenging ● Net profit
Slide 6: Interim Dividend Payment
INTERIM DIVIDEND PAYMENT Interim’24 Interim’23 (Oct’23 – Mar’24) (Oct’22 – Mar’23) Net Profit Belonging to the Company 15,223 16,123 Million Baht Million Baht Number of Shares 25,128 25,125 Million Shares Million Shares Interim Dividend 3,769 3,769 Million Baht Million Baht Interim Dividend Per Shar
Slide 7: Consolidated: 2Q24 & 1H24 Highlights
CONSOLIDATED: 2Q24 & 1H24 HIGHLIGHTS Unit: THB million 2Q24 2Q23 Change 1H24 1H23 Change (Jan'24 - Mar'24) (Jan'23 - Mar'23) (%) (Oct'23 - Mar'24) (Oct'22 - Mar'23) (%) Sales Revenue 71,634 67,396 6.3% 147,742 148,295 -0.4% COGS (49,585) (46,986) (102,875) (104,774) % of Sales Revenue 69.2% 69.7% 69
Slide 8: Consolidated: 2Q24 & 1H24 Highlights
CONSOLIDATED: 2Q24 & 1H24 HIGHLIGHTS Second quarter ended 31 March 2024 2Q24 2Q23 Change % Change Associated Associated Associated Associated Unit: THB million ThaiBev Total ThaiBev Total ThaiBev Total ThaiBev Total Companies Companies Companies Companies Sales 71,634 - 71,634 67,396 - 67,396 4,238
Slide 9: Contribution per Business Segment
CONTRIBUTION PER BUSINESS SEGMENT 1H24 Sales Revenue 100.0% 147,742 1H24 EBITDA (Exclude Associated 64.0% Million Baht Companies) 100.0% 26,909 28.0% Million Baht 4.4% 3.6% Spirits Beer Non-Al Food Total Beverages 44.3% 42.3% 100.0% 80.7% 1H24 Net Profit 6.7% 6.7% (Exclude Associated Companies) -0.0
Slide 10: Total Sales Volume
TOTAL SALES VOLUME Unit: Million Litres SPIRITS BEER NON-ALCOHOLIC BEVERAGES 2Q23 2Q24 2Q23 2Q24 2Q23 2Q24 7.1% 4.9% 7.9% 5.1% 278 292 26.4% 533 11.3% 1.1% 497 455 422 84 89 58 73 10.6% 2 2 20.4% RTD Tea and Drinking Water* Carbonated Soft Others *** 171 170 Jubjai Drink ** 9 10 21 25 * Exclude OEM
Slide 11: Business Segment Results
1 1H24 PERFORMANCE HIGHLIGHTS 2 BUSINESS SEGMENT RESULTS 3 FINANCIAL INFORMATION 1H24 (First Half ended 31 March 2024) Copyright © 2024 Thai Beverage Public Company Limited
Slide 12: Spirits
SPIRITS 2Q24 Performance SALES REVENUE • Price adjustment and portfolio mix Unit: THB million 2Q24 2Q23 Change (Jan'24 - Mar'24) (Jan'23 - Mar'23) (%) COGS (%) Sales Revenue 31,621 31,443 0.6% • Prudent cost management COGS (20,527) (20,682) % of Sales Revenue 64.9% 65.8% SG&A (%) SG&A (3,785) (3,87
Slide 13: Spirits
SPIRITS 1H24 Performance SALES REVENUE • Price adjustment and portfolio mix Unit: THB million 1H24 1H23 Change (Oct'23 - Mar'24) (Oct'22 - Mar'23) (%) COGS (%) Sales Revenue 65,497 65,161 0.5% • An increase in sales revenue was more than an increase in COGS (42,960) (42,884) COGS % of Sales Revenue
Slide 14: Spirits: Revenue-Cost Break Down
SPIRITS: REVENUE-COST BREAK DOWN % of 1H24 Total Spirits Revenue 100.0% 9.1% 8.2% 45.2% 1.1% 0.5% 1.0% 10.5% 4.8% 19.6% Total Revenue Raw Material Packaging Excise Tax Labor Depreciation Others SG&A Int. Exp.+ Inc. Net Profit Tax 1H24 (First Half ended 31 March 2024) Copyright © 2024 Thai Beverage P
Slide 15: Beer
BEER 2Q24 Performance SALES REVENUE • An increase in sales volume and a benefit from price Unit: THB million 2Q24 2Q23 Change adjustment in 2023 (Jan'24 - Mar'24) (Jan'23 - Mar'23) (%) COGS (%) Sales Revenue 29,904 26,502 12.8% • A decrease in key raw material and packaging costs, in COGS (23,123) (
Slide 16: Beer
BEER 1H24 Performance SALES REVENUE • The impact from a slow start in the first quarter, despite the Unit: THB million 1H24 1H23 Change pickup in the second quarter (Oct'23 - Mar'24) (Oct'22 - Mar'23) (%) Sales Revenue 62,523 64,434 -3.0% COGS (%) COGS (48,320) (50,581) • A decrease in key raw mater
Slide 17: Beer: Revenue-Cost Break Down
BEER: REVENUE-COST BREAK DOWN % of 1H24 Total Beer Revenue 100.0% 20.3% 12.9% 38.8% 1.0% 1.3% 1.5% 14.8% 5.1% 4.3% Total Revenue Raw Material Packaging Excise Tax Labor Depreciation Other SG&A Int. Exp.+ Inc. Net Profit Tax 1H24 (First Half ended 31 March 2024) Copyright © 2024 Thai Beverage Public
Slide 18: Non-Alcoholic Beverages
NON-ALCOHOLIC BEVERAGES 2Q24 Performance SALES REVENUE • An increase in sales volume across all categories Unit: THB million 2Q24 2Q23 Change (Jan'24 - Mar'24) (Jan'23 - Mar'23) (%) COGS (%) Sales Revenue 5,246 4,830 8.6% • A decrease in packaging costs and higher production COGS (2,994) (2,967) eff
Slide 19: Non-Alcoholic Beverages
NON-ALCOHOLIC BEVERAGES 1H24 Performance SALES REVENUE • An increase in sales volume across all categories Unit: THB million 1H24 1H23 Change (Oct'23 - Mar'24) (Oct'22 - Mar'23) (%) COGS (%) Sales Revenue 9,929 9,439 5.2% • A decrease in packaging costs and higher production COGS (5,776) (5,800) eff
Slide 20: Food
FOOD 2Q24 Performance SALES REVENUE • Benefited from greater brand visibility and accessibility Unit: THB million 2Q24 2Q23 Change through the opening of new stores (Jan'24 - Mar'24) (Jan'23 - Mar'23) (%) COGS (%) Sales Revenue 4,884 4,672 4.5% COGS (2,960) (2,810) • An increase in material cost, pa
Slide 21: Food
FOOD 1H24 Performance SALES REVENUE • Benefited from greater brand visibility and accessibility Unit: THB million 1H24 1H23 Change through the opening of new stores (Oct'23 - Mar'24) (Oct'22 - Mar'23) (%) COGS (%) Sales Revenue 9,856 9,365 5.2% • An increase in material cost, partly offset by improv
Slide 22: Financial Information
1 1H24 PERFORMANCE HIGHLIGHTS 2 BUSINESS SEGMENT RESULTS 3 FINANCIAL INFORMATION FINANCIAL INFORMATION 1H24 (First Half ended 31 March 2024) Copyright © 2024 Thai Beverage Public Company Limited
Slide 23: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION Unit: THB Million ASSETS LIABILITIES AND EQUITY 496,205 494,549 496,205 494,549 Current Assets 6,479 Current Liabilities 24,455 73,627 • An increase in inventories, trade 109,150 • A decrease in current portion of long- 98,082 115,629 receivables, and other current as
Slide 24: Interest-Bearing Debt
INTEREST-BEARING DEBT (From Banks, Debentures and Others) Unit: THB Million 31-Mar-24 30-Sep-23 Change Current Bank overdrafts 1,098 185 913 Short-term loans from financial institutions 7,617 12,980 (5,363) Current portion of debentures 24,298 26,294 (1,996) Current portion of long-term loans from f
Slide 25: Financial Ratios
FINANCIAL RATIOS RATIOS 31-Mar-24 30-Sep-23 Current Ratio (times) 1.57 1.11 Liability to Equity Ratio (Gearing Ratio) (times) 1.06 1.05 Interest Bearing Debt to Equity Ratio (times)* 0.86 0.84 Net Interest Bearing Debt to Equity Ratio (times)* 0.67 0.65 Net Interest Bearing Debt to EBITDA (times)* 3
Slide 26: 1H24 (First Half ended 31 March 2024) Copyright © 2024 Thai Beverage Public Company
1H24 (First Half ended 31 March 2024) Copyright © 2024 Thai Beverage Public Company Limited
Thai Beverage Public Company — H1 2024 Earnings Presentation on 6ix