ThaiBev revenue climbs 8.2% in past nine months
Revenue was boosted by the easing of COVID-19 measures in Thailand and Vietnam.
Thai Beverage Public Company Limited reported a year-on-year (YoY) growth of 8.2% on its sales revenue for the past nine months ending 30 June to $8.09b.
The growth comes at the back of the easing of COVID-19 measures and the reopening of Thailand and Vietnam.
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 6.7% YoY $1.52b which was underpinned by satisfactory improvements in EBITDA from the beer, non-alcoholic beverage and food businesses, ThaiBev said.
The company’s food sales revenue saw the most increase for the past nine months at 38.6% YoY, driven by the increase in dine-in traffic amidst the economic recovery of Thailand. This is followed by beer sales at 15.3% YoY and sales of non-alcoholic beverages at 9.7% YoY.
Spirits sales revenue, however, decreased by 1.1% on account of an increase in packaging costs and currency depreciation of Myanmar Kyat, despite molasses cost coming down in Q3 2022 when compared YoY. Thaibev, however, expects the reopening of entertainment venues on 1 June 2022 should support recovery.