- Thai Beverage (SGX:Y92)'s 2Q24 revenue and earnings came in at THB71.6bn and THB7.0bn, +6.3% and -4.9% y-o-y, respectively. Top-line growth was largely driven by the recovery in the beer segment, with sales up 12.8% y-o-y, driven by a combination of 7.1% higher volume and a +5.7% pricing effect.
- - Read this at SGinvestors.io -
- Spirits business remains relatively stable with volume slightly down by 1.1% y-o-y, which is more than offset by a +1.7% pricing effect, leading to a slight growth of 0.6% in overall sales.
1H24 earnings dragged by associated companies
- Thai Beverage's 1H24 revenue and earnings came in at THB147.7bn and THB15.2bn, -0.4% y-o-y and -5.6% y-o-y, respectively.
- - Read this at SGinvestors.io -
EBITDA margin excluding associate companies expanded 0.9ppt y-o-y while gross margin expanded by 1.1ppt.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Zheng Feng CHEE DBS Group Research | Andy SIM CFA DBS Research | https://www.dbs.com/insightsdirect/ 2024-05-16
Previous report by DBS:
2023-11-24 Thai Beverage - Investing To Strengthen Spirits Brand.
Price targets by 4 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
