- Thai Beverage (SGX:Y92)'s 1Q24 revenue and EBITDA were at 26%/27% of our FY24e forecasts. 1Q24 EBITDA rose 1.9% y-o-y to Bt13.8bn. Results were within expectations. No analyst briefing and limited financials were provided in the 1Q24 update.
- - Read this at SGinvestors.io -
- We maintain our FY24e forecasts. Our BUY recommendation and target price for Thai Beverage is unchanged.
- We remain positive on the recovery of volumes this year as economic conditions improve via government stimulus and a rebound in exports.
The Positive
Margin improvement.
- - Read this at SGinvestors.io -
- Spirits margins were stable as the product mix of higher-margin brown spirits rose.
The Negative
Volumes still falling for beer.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Paul Chew Phillip Securities Research | https://www.stocksbnb.com/ 2024-02-15
Previous report by Phillip:
2023-11-24 Thai Beverage - Waiting For Macro To Turnaround.
Price targets by 3 other brokers at Thai Beverage Target Prices.
Listing of research reports at Thai Beverage Analyst Reports.
Relevant links:
Thai Beverage Share Price History,
Thai Beverage Announcements,
Thai Beverage Dividends & Corporate Actions,
Thai Beverage News Articles
