Thai Beverage - UOB Kay Hian 2024-06-24: Highlights From 2024 Annual Information Meeting

Thai Beverage - Highlights From 2024 Annual Information Meeting

Thai Beverage (SGX:Y92) | SGinvestors.ioThai Beverage (SGX:Y92)
  • We attended Thai Beverage (SGX:Y92)’s 2024 Annual Information Meeting and analyst meeting held in Singapore and listed down some important points from the meetings below.

Premiumisation of spirits portfolio.

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  • In response to future growth drivers for the spirits segment, management mentioned that Thai Beverage has implemented a premiumisation strategy to attract a different customer profile and improve its international spirits portfolio. This was driven by the recent acquisitions of Larsen cognac and Cardrona Distillery in FY23 which boast higher margins as compared with its domestic spirits SKUs.
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Growing organically.

  • Closer to home, Thai Beverage has introduced new premium additions to its existing spirits portfolio such as Ruang Khao Siam Sapphire, Blend 285 Signature Festive Box and Phraya Rum while also engaging in targeted marketing campaigns towards the younger generation to drive organic growth.
  • Overall, in our view, there were no negative surprises for the spirits segment and we reckon that segmental margins are likely to expand moving forward, backed by better tourist arrivals and an improving margin mix.

BeerCo & divestments.

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Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @

Llelleythan Tan UOB Kay Hian Research | Heidi Mo UOB Kay Hian | 2024-06-24

Previous report by UOB:
2024-02-15 Thai Beverage - 1QFY24 In Line As Margins Improve.

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


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