ThaiBev's EBITDA drops 7.7% YoY in Q123

The company attributed its EBITDA performance to cost push amongst others.

Singapore-listed Thai Beverage's (ThaiBev) earnings with interest, taxes, depreciation, and amortization (EBITDA) declined by 7.7% YoY to ฿13.5m ($532,836.50) in Q123, its latest business update showed.

This as EBITDA across its business segments dipped during the quarter, led by non-alcoholic beverages (NAB) (-31.4% YoY to ฿409m [$16.1m]).

ThaiBev attributed the EBITDA decline in its NAB segment to "an increase in brand investment and marketing activities undertaken to reach consumers across all channels and general cost push, which were partially offset by production efficiency gain."

Meanwhile, its "Spirits," "Beer," and "Food" segments recorded an EBITDA of ฿8.9m ($351,277.39) (-1.0% YoY), ฿3.68m ($145,058.42) (-18.3% YoY), and ฿523m ($20.6m) (-4.0% YoY).

1 SGD = 25.37 THB