ThaiBev profit falls as weak demand hits key spirits business (updated)

Thai Beverage Public

25/11/2025 14:23

Adds details throughout

Nov 25 (Reuters) - Singapore-listed Thai Beverage TBEV.SI reported a 7% fall in annual profit on Tuesday, hurt by persistent weakness in its core spirits division alongside a decline in earnings from its food business.

The Bangkok-based firm said softening consumer sentiment across its key markets dented its annual performance, with sales revenue down more than 2% to 333.29 billion baht.

A slow post-pandemic recovery in Thailand's crucial tourism sector, a key driver of on-premise alcohol consumption, continued to drag on its spirits business.

Spirits, its biggest earnings contributor, were hardest hit, as subdued tourist arrivals and cautious household spending curbed on-premise drinking, adding to margin pressure from higher raw material and marketing costs.

The company is one of Southeast Asia's largest beverage makers, with its business consisting of four segments: spirits, beer, non-alcoholic and food.

ThaiBev, which brews the popular Chang lager, reported profit attributable of 25.36 billion baht ($786.11 million) for the year ended September 30, compared with 27.22 billion baht a year earlier.

The company's spirits business posted profit attributable of 19.17 billion baht, down from 20.77 billion baht last year.

ThaiBev's food business swung to a loss of 168 million baht for the year, as increased operating expenses from aggressive restaurant expansion weighed on its earnings.

It also declared a final dividend of 0.47 baht per share, unchanged from last year.

($1 = 32.2600 baht)

 (Reporting by Rajasik Mukherjee and Nikita Maria Jino in Bengaluru; Editing by Tasim Zahid)

 ((Nikita.Jino@thomsonreuters.com;))