Full Year 2025 Thai Beverage PCL Earnings Call Transcript
Key Points
- The Beer business showed a strong recovery in Thailand, with improved production efficiencies and lower raw material costs contributing to a significant increase in net profit.
- The Spirits business performed well internationally, particularly in Myanmar, despite domestic challenges.
- The company maintained a high dividend payout ratio of 61.4%, reflecting a commitment to returning value to shareholders.
- The Non-alcoholic Beverage business managed to grow market share in core categories despite a challenging domestic market.
- Favorable raw material costs are expected to continue into 2026, which should help maintain profitability across various segments.
- Overall sales revenue decreased by 2.1% year-on-year, with declines across all business segments.
- Net profit decreased by 11.7% due to weaker performance in the Spirits, Non-alcoholic Beverage, Food, and Other businesses.
- The Spirits business faced a 1.8% decline in revenue due to weaker domestic consumption and foreign exchange losses.
- The Food business reported a net loss due to increased labor costs and marketing expenses, along with softening consumer sentiment.
- The Beer business faced challenges in the Vietnam market, impacting overall performance despite gains in Thailand.
(technical difficulty) (Operator Instructions)
I will now hand over the call to the presenters, Ms. Namfon Aungsutornrungsi, ThaiBev's Head of Investor Relations and members of ThaiBev's senior management team. Thank you.
Good evening, ladies and gentlemen, and welcome to the ThaiBev's financial results conference call for the year ended September 30, 2025. I am Namfon Aungsutornrungsi, Head of Investor Relations. For the conference call tonight, I will begin with a summary of our full-year 2025 results, then we will open the line for a Q&A session with our management team.
For a summary of our results, the total sales revenue of the group for the fiscal year ended September, 30, 2025 was THB333,286 million, a decrease of 2.1% compared to the same period last year. This was due to a decrease in sales revenue across all businesses.
Net profit included associated companies are -- was THB31,153 million, a decrease of 11.7% compared to the same period last year.
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