Thai Beverage Public Company Limited

2Q FY23/24 Results Summary

• Revenue: SGD 71.63B

  Increased 6% Year-on-Year

  This was due to an increase in sales of beer business of 12.8%, non-alcoholic beverages business of 8.6%, food business of 4.5% and spirits business of 0.6%.

• Net Profit: SGD 7B

  Decreased 5% Year-on-Year

  This was due to a decrease of net profit mainly from associated companies of 82.9% and food business of 528.6%.

• Return on Equity (ROE): 3%

  Decreased 3% Year-on-Year

  This was due to a decrease in net profit for the period.

• Dividend Per Share: SGD 0.15

  The Company's Board of Directors has approved interim dividend payment at the meeting held on May 13, 2024.

• Debt to Equity Ratio: 86%

  Increased 2% Year-on-Year

  This was mainly due to a net increase in interest-bearing debts from bank and debentures and others of Baht 4,965 million.

• Outlook

  Thailand's economy registered an overall low growth from October 2023 to March 2024. The slow recovery in international trade and other structural factors, flat export growth, and contraction in government spending in both investments and budget expenditures due to the delayed Annual Budget Expenditures for Fiscal Year 2024 Act have put downward pressure on several industries. In addition, Thailand's economy was challenged by rising food prices and high household debts. However, there were some bright spots in the form of a continued recovery of the tourism sector, which supported the service industry.

  Sources: Thai Beverage Public Company Limited Financial Report