Thai Beverage aims to double revenue to $8.5 bln by 2020

Fraser and Neave

22/11/2016 08:17

By Manunphattr Dhanananphorn 
    BANGKOK, Nov 22 (Reuters) - Thai Beverage  TBEV.SI  said on 
Tuesday it aimed to double sales revenue to 300 billion baht 
($8.5 billion) by 2020 as the drink maker expands markets 
locally and overseas especially in fast-growing Southeast Asia. 
    Thai Beverage, also known as ThaiBev, plans to tap the 
alcoholic-drinks market in Myanmar, Vietnam and the Philippines, 
CEO Thapana Sirivadhanabhakdi told a news conference.  
    "The 300 billion baht is our aspiration plan," Thapana said, 
adding that ThaiBev aimed for annual average revenue and profit 
growth of 12 percent-16 percent a year during 2015-2020. 
    ThaiBev, controlled by Thailand's second-richest man Charoen 
Sirivadhanabhakdi, also plans to invest 4 billion baht in 2017, 
mostly for maintenance, up from this year's 3 billion baht. The 
4 billion baht excludes the amount kept for acquisitions, he 
said.  
    It booked group sales of 139 billion baht in its financial 
year ended September 2016. 
    ThaiBev, one of Southeast Asia's largest beverage companies, 
has been active in acquiring assets overseas. It took control of 
Singapore-listed Fraser and Neave  FRNM.SI  in 2013. 
    ThaiBev is among several major foreign brewers eyeing a 
stake in Sabeco, Vietnam's biggest brewer, as the Vietnam 
government is seeking to fully divest its holdings in Sabeco and 
smaller brewer Habeco or Hanoi Beer Alcohol Beverage Corp.  
    ThaiBev is keen to invest in Sabeco, which is pending a 
listing by Vietnam government, Thapana said, adding that the 
Thai firm has not studied the proposal to buy stake in Habeco. 
    State-owned Sabeco - formally known as the Saigon Beer, 
Alcohol, Beverage Corp - may list on the Ho Chi Minh Stock 
Exchange by late November or early December, its chief executive 
said last month.  urn:newsml:reuters.com:*:nL3N1CB27Y 
    ThaiBev unit Fraser and Neave is also considering a proposal 
to raise its holding in Vinamilk  VNM.HM , Thapana said without 
giving further details.  urn:newsml:reuters.com:*:nL3N12Y1QT 
    ThaiBev, maker of "Chang" elephant beer brand, aimed to 
boost its share in the domestic beer market to 46 percent in 
2020 from the present 39 percent, he said, adding that 
consumption in Thailand and Southeast Asia should improve next 
year.  
 
    ($1 = 35.4600 baht) 
 
 (Reporting by Manunphattr Dhanananphorn; Writing by Khettiya 
Jittapong; Editing by Sherry Jacob-Phillips) 
 ((khettiya.jittapong@thomsonreuters.com; 66 2 648 9728; Reuters 
Messaging: khettiya.jittapong.thomsonreuters.com@reuters.net)) 
 
Keywords: THAI BEVERAGE OUTLOOK/