- For 9MFY23, Thai Beverage's higher revenue (+3.8% y-o-y) was in line while softer EBITDA (-3.4% y-o-y) was above our expectations. This was driven by stronger-than-expected margins from the beer segment and NAB segments. The spirits segment continues to benefit from higher tourist arrivals as margins expand.
- - Read this at SGinvestors.io -
Sturdy 3QFY23 above expectations.
- For 9MFY23 (Oct 2022 to Jun 2023), Thai Beverage (SGX:Y92) reported overall revenue and core EBITDA (excluding associated companies) of Bt215.9b (+3.8% y-o-y) and Bt37.8b (-3.4% y-o-y), forming 78.0% and 86.8% of our full-year forecasts respectively and exceeding our expectations.
- - Read this at SGinvestors.io -
- 3QFY23 revenue growth was driven by broad-based growth across all segments while softer 3QFY23 EBITDA was dragged by the beer and food segments.
Margins stabilising.
- Read more at SGinvestors.io.
