, Singapore
159 views
Stock photo.

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.

ALSO READ: Far East Orchard improves earnings in H1 due to border opening

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.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!