Ichitan Group Public Co., Ltd.

In the news

Thailand's 'war on sugar' aims to slim people and fatten coffers Dec 11, 2017
Can Asia fall in love with tea again? Oct 25, 2017
Tears and taxes take a toll on Thai brewers Oct 5, 2017
Thai 'sin tax' hike hits beer sales with nation in mourning Sep 30, 2017
Ichitan dives into energy drinks with Red Bull inventors on the rocks Jun 4, 2017

See more articles on Ichitan Group Public Co., Ltd.

Company Background

Ichitan Group is Thailand's largest bottled tea producer, with a market share of more than 40%. Its two major brands are Ichitan Green Tea and Yen Yen. Founder and CEO Tan Passakornatee is an ethnic Chinese tycoon known for some rather entertaining performances, appearing in TV commercials wearing his trademark captain's hat. He also founded the Oishi Group, Ichitan's largest rival by market share, in 1999, sparking a sweet-tea boom in Thailand.

Tan set up Ichitan in 2010 after selling Oishi to Thai Beverage, the Singapore-listed, Thailand-based beverage maker that produces Chang beer.

As its first step outside Thailand, Ichitan is entering the Indonesian market through a joint venture with Japanese trading house Mitsubishi Corp. and Indonesian retailer Sigmantra Alfindo. Sales are set to start in 2015, and in-country production in 2016.

The company also acquired the trademark and production technologies of fruity beverage brand Bireley's for distribution in Thailand and 15 other countries and regions, such as the U.S., China and neighboring Southeast Asian nations.

Business Summary

Ichitan Group Public Co., Ltd. engages in manufacture and distribution of beverages. Its products include ready-to-drink green tea, functional drink, ready-to-drink black tea, herbal green tea drink, and low-sugar green tea under the following brands: Ichitan, Yen Yen, and Dragon. The company was founded by Tan Passakornnatee on September 3, 2010 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2021	THB	USD
Revenue	5,228.25M	163.30M
Gross Profit	986.05M	30.79M
Operating income	562.01M	17.55M
Income before tax	581.88M	18.17M
Net income	546.77M	17.07M
EBITDA	1,145.83M	35.78M
Diluted EPS	0.42	0.01
Dividends Per Share	0.50	0.01
Total Assets	7,106.26M	212.73M
Total liabilities	915.29M	27.39M
Total equity	6,190.97M	185.33M
Operating cash flow	1,054.43M	32.93M
	Currency in THB	Currency in USD

Historical Data

THB | USD

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	5,687.51M	5,203.98M	5,334.21M	5,099.29M	5,228.25M
Gross Profit	1,341.45M	763.72M	978.11M	977.39M	986.05M
Operating income	496.56M	123.14M	424.67M	547.51M	562.01M
Income before tax	434.12M	71.61M	391.28M	542.25M	581.88M
Net income	315.09M	43.84M	407.45M	515.53M	546.77M
EBITDA	1,019.75M	692.73M	998.93M	1,139.98M	1,145.83M
Diluted EPS	0.24	0.03	0.31	0.39	0.42
Dividends Per Share	0.15	0.05	0.35	0.50	0.50
Total Assets	8,626.30M	8,176.77M	7,686.94M	7,404.55M	7,106.26M
Total liabilities	2,570.12M	2,291.29M	1,466.58M	1,125.87M	915.29M
Total equity	6,056.17M	5,885.48M	6,220.35M	6,278.67M	6,190.97M
Operating cash flow	1,178.37M	611.62M	895.35M	1,182.02M	1,054.43M

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	167.60M	160.97M	171.82M	162.94M	163.30M
Gross Profit	39.53M	23.62M	31.50M	31.23M	30.79M
Operating income	14.63M	3.80M	13.67M	17.49M	17.55M
Income before tax	12.79M	2.21M	12.60M	17.32M	18.17M
Net income	9.28M	1.35M	13.12M	16.47M	17.07M
EBITDA	30.05M	21.42M	32.17M	36.42M	35.78M
Diluted EPS	0.00	0.00	0.01	0.01	0.01
Dividends Per Share	0.00	0.00	0.01	0.01	0.01
Total Assets	264.69M	251.12M	256.62M	247.14M	212.73M
Total liabilities	78.86M	70.37M	48.96M	37.57M	27.39M
Total equity	185.82M	180.75M	207.66M	209.56M	185.33M
Operating cash flow	34.72M	18.91M	28.84M	37.77M	32.93M

Valuation Measures

Dec 2021
PER	23.77
ROA	7.53%
ROE	8.76%
Operating margin	10.74%
Profit margin	10.45%

Key executives

Chairman, President & Chief Executive Officer: Tan Passakornnatee
CFO, Chief Accountant & Director-Accounting: Wimolwan Saelao
Director & Executive VP-Beverage Business: Thanapan Kongnanta
Director & Deputy Financial Director: Araya Panichayunont
Manager-Internal Audit: Sumol Hobumphen

Shareholders

PASSAKORNNATEE TAN (27.7%)
SUKKHAPHANTHAWON JARUWORN (5.1%)
PASSAKORNNATEE ENG /ICHI/ (4.6%)
PHATSAKRONTHI KLAINATHI (4.6%)
PHATSAKRONTHI PHATSAKON (4.6%)
JIRANONKAN THITI (2.6%)
SUKKHAPHANTHAWON SUPHANI (2.0%)
CHEN MEI FANG /ICHITAN/ (1.9%)
Dimensional Fund Advisors LP (0.5%)
BIOGRAPHYDAMRONG PERPONG (0.1%)

Contact Details

Website:http://www.ichitangroup.com
Address: T-One Building, 8 Soi Sukhumvit 40, Phra Khanong, Bangkok, 10110, Thailand
Phone: +66.2.023.1111

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Last Updated on 4 Oct, 2022