Half Year 2026 Thai Beverage PCL Earnings Call Transcript
Key Points
- EBITDA from normal business operations increased by 6.9% year-on-year, driven by Spirits, Beer, Food, and other businesses.
- Net profit from normal operations rose by 7.8% year-on-year, with Spirits and Beer contributing significantly.
- The Spirits business saw a 1.3% increase in sales revenue, supported by international growth and lower raw material costs.
- Beer business net profit increased by 40.5% year-on-year due to lower raw material and finance costs.
- The company maintained a strong market share in the Thai beer market, with Chang being the number one brand.
- Total sales revenue decreased by 2.5% year-on-year, primarily due to declines in the Beer and Non-alcoholic Beverage segments.
- Non-alcoholic Beverage business experienced a 5.5% decline in sales revenue and a 22.4% drop in net profit due to softer consumer demand and geopolitical uncertainties.
- The Food business saw a decrease in net profit due to increased marketing expenses and higher depreciation from restaurant expansion.
- The Beer business faced challenges in the first quarter due to subdued market conditions in Thailand and severe weather in Vietnam.
- The company faced a non-recurring impairment loss from discontinued operations of a joint venture, impacting overall financial results.
Good evening, everyone, and thank you for joining the Thai Beverage 1H 2026 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 of ThaiBev's senior management team. Thank you.
Good evening, ladies and gentlemen, and welcome to ThaiBev Financial Results Conference Call for the six months ended the March 31, 2026. For the call tonight, I will begin with a summary of our results, then we will open the line for Q&A with our management team here.
For the summary of the first half results, total sales revenue of the group for the first half was THB173,219 million, a decrease of 2.5% compared to the same period last year. This was due to a decrease in sales revenue from the beer, and non alcoholic beverage, while there was an increase in sales revenue from Spirit food and others businesses.
EBITDA from normal business operations exclude a non-recurring
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