Full Year 2024 Thai Beverage PCL Earnings Call Transcript
Key Points
- Thai Beverage PLC (TBVPF) reported a 2.2% increase in total sales revenue for the fiscal year 2024, driven by growth in both beverage and food segments.
- The beer business saw a 2.4% year-on-year increase in sales revenue, supported by a rebound in tourism and higher beer consumption due to warmer weather.
- The nonalcoholic beverage segment experienced a 4.2% rise in sales revenue, attributed to successful brand building and distribution expansion.
- The company proposed a higher dividend for the full year 2024, translating to a payout ratio of 53.9% of profit attributable to shareholders.
- Operational efficiencies and effective brand and marketing investments contributed to improved net profit in the beer segment, with a 3.9% increase compared to the previous year.
- The spirits business reported a 4.6% year-on-year decline in net profit due to higher raw material costs and increased investment in brand and marketing activities.
- The food business, despite a 5.5% increase in sales revenue, saw a decline in net profit due to higher raw material costs and operational expenses.
- The group's other business registered a 6.6% decline in sales revenue from the publishing and printing segment, impacted by lower international demand.
- Higher investment in brand and marketing activities led to increased costs, affecting overall profitability.
- The company faced challenges with the spirits segment, particularly with brown spirits, which experienced a decline in consumption earlier in the year.
Good evening everyone. And thank you for joining the Thai Beverage fiscal year 2024 results call. (Operator Instructions) I will now hand over the call to the presenters, Ms. Namfon Aungsutornrungsi, ThaiBev's Head of Investor Relations and the members ThaiBev's senior management team. Thank you.
Good evening. Ladies and gentlemen, welcome to ThaiBev's full year 2024 ended September 30, 2024 financial resource conference call. I am Namfon Aungsutornrungsi, Head of Investor Relations. For the call tonight, I will start with a summary of the full year results. Then we will open the line for Q&A with our management team here. For the summary of the full year results on September 28, 2024 InterBev Investment Limited or IBIL and indirectly owned subsidiary of ThaiBev completed a share swap transaction with TTT Asset Limited or TTTAL.
The transaction resulted in an increase in IBIL's percentage interest in Fraser and Neave Limited shares from 28.31% to 69.4% making ThaiBev's the
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