Thai Beverage's Q1 profit dips as spirits unit struggles (updated)

Thai Beverage Public

13/02/2025 11:59

(Updates with details in paragraphs 3-5)
       Feb 13 (Reuters) - Singapore-listed Thai Beverage
 TBEV.SI  posted a marginal decline in first-quarter profit on
Thursday, as weakness in its spirits business offset growth in
beer and non-alcoholic beverage segments.
         ThaiBev, one of Southeast Asia's largest beverage
makers, reported earnings before interest, tax, depreciation,
and amortization (EBITDA) of 16.44 billion baht ($486.68
million) for the quarter, compared with 16.58 billion baht a
year ago.
    The spirits business, one of the firm's biggest profit
generators, saw a 4.8% annual drop in sales revenue to 32.24
billion baht due to higher raw material and marketing costs.
    However, the beer business, which produces and distributes
the Chang lager, posted a 16.6% increase in EBITDA for the
quarter, while earnings from the non-alcoholic beverages unit
rose nearly 16%. 
        The results come at a time when ThaiBev, which is owned
by billionaire Charoen Sirivadhanabhakdi is looking to 
    divest
     its real estate assets and become a pure-play drinks and
food company. 
  


($1 = 33.7800 baht)

    
    
    

 (Reporting by Sneha Kumar and Nichiket  Sunil in Bengaluru;
Editing by Mrigank Dhaniwala)
 ((Sneha.Kumar@thomsonreuters.com;))