ThaiBev Q2 profit down 3.2% at 6.7 billion baht; declares dividend of 0.15 baht per share

[SINGAPORE] Chang beer maker Thai Beverage (ThaiBev) on Friday (May 9) announced that its profit for the second quarter ended Mar 31, 2025, decreased 3.2 per cent on year to 6.7 billion baht (S$263.5 million), from a restated profit of seven billion baht in the corresponding year-ago period.

The group’s financials for Q2 and H1 FY2024 have been restated for comparative purposes, due to the consolidation of beverage maker Fraser & Neave (F&N) in September 2024, said ThaiBev in a bourse filing.

This is accounted for as a business combination under common control by the same ultimate controlling shareholder, said the group.

The profit decline is due to lower earnings in spirits and others segments. Earnings per share (EPS) was 0.27 baht, down from 0.28 baht a year ago.

Revenue for the three months ticked down 0.6 per cent to 85.4 billion baht, from a restated top line of 85.8 billion baht in Q1 FY2024.

This decrease is due to a fall in sales for beer, food, non-alcoholic beverages and other businesses, but partially offset by an increase in sales from spirits.

The group has declared a dividend of 0.15 baht per share, unchanged from the corresponding year-ago period, which will be payable on Jun 12.

On a half-yearly basis, profit came in at 14.7 billion baht, retreating 3.2 per cent from a restated 15.2 billion baht. Revenue for the six months was 177.6 billion baht, adding 1 per cent from 175.9 billion baht in H1 FY2024 restated.

Revenue growth for the half was driven by the beer and non-alcoholic beverages businesses, said ThaiBev.

The group noted that the Thai economy has “showed signs of steady recovery” over October 2024 to March this year, fuelled by tourism, services and positive merchandise exports trend.

Although private consumption saw improvement, the group said the Thai economy “remains vulnerable to several risks”, including persistent inflationary pressures and uncertainty surrounding the economic policies of major trading partners.

While the recovery in economic activity has improved domestic beverage consumption, the beverage industry “continues to face intensifying competitive pressures, particularly in Vietnam”, said the group, citing regulations that continue to limit domestic alcohol consumption in that market. 

ThaiBev’s subsidiary F&N also reported earnings on Friday. Its profit for the first half ticked up 0.3 per cent to S$84.1 million, from S$83.8 million a year ago.

Shares of ThaiBev were up 1 per cent or S$0.005 at S$0.515 on Friday, before the announcement.