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. is engaged 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 2019	THB	USD
Revenue	5,334.21M	171.82M
Gross Profit	978.11M	31.50M
Operating income	424.67M	13.67M
Income before tax	391.28M	12.60M
Net income	407.45M	13.12M
EBITDA	998.93M	32.17M
Diluted EPS	0.31	0.01
Dividends Per Share	0.35	0.01
Total Assets	7,686.94M	256.62M
Total liabilities	1,466.58M	48.96M
Total equity	6,220.35M	207.66M
Operating cash flow	895.35M	28.84M
	Currency in THB	Currency in USD

Historical Data

THB | USD

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019
Revenue	6,339.57M	5,338.26M	5,687.51M	5,203.98M	5,334.21M
Gross Profit	2,110.87M	1,380.05M	1,341.45M	763.72M	978.11M
Operating income	965.27M	526.31M	496.56M	123.14M	424.67M
Income before tax	905.30M	424.89M	434.12M	71.61M	391.28M
Net income	812.74M	368.48M	315.09M	43.84M	407.45M
EBITDA	1,453.44M	1,039.78M	1,019.75M	692.73M	998.93M
Diluted EPS	0.63	0.28	0.24	0.03	0.31
Dividends Per Share	0.50	0.25	0.15	0.05	0.35
Total Assets	8,854.28M	8,626.86M	8,626.30M	8,176.77M	7,686.94M
Total liabilities	2,821.83M	2,875.61M	2,570.12M	2,291.29M	1,466.58M
Total equity	6,032.44M	5,751.25M	6,056.17M	5,885.48M	6,220.35M
Operating cash flow	1,281.63M	1,214.22M	1,178.37M	611.62M	895.35M

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019
Revenue	184.97M	151.30M	167.60M	160.97M	171.82M
Gross Profit	61.59M	39.11M	39.53M	23.62M	31.50M
Operating income	28.16M	14.91M	14.63M	3.80M	13.67M
Income before tax	26.41M	12.04M	12.79M	2.21M	12.60M
Net income	23.71M	10.44M	9.28M	1.35M	13.12M
EBITDA	42.40M	29.47M	30.05M	21.42M	32.17M
Diluted EPS	0.01	0.00	0.00	0.00	0.01
Dividends Per Share	0.01	0.00	0.00	0.00	0.01
Total Assets	246.05M	240.90M	264.69M	251.12M	256.62M
Total liabilities	78.41M	80.30M	78.86M	70.37M	48.96M
Total equity	167.63M	160.60M	185.82M	180.75M	207.66M
Operating cash flow	37.39M	34.41M	34.72M	18.91M	28.84M

Valuation Measures

Dec 2019
PER	16.11
ROA	5.13%
ROE	6.73%
Operating margin	7.96%
Profit margin	7.63%

Key executives

Chairman, President & Chief Executive Officer: Tan Passakornnatee
Executive Vice President-Accounting & Finance: Apichat Sukachirawat
Director & Executive VP-Beverage Business: Thanapan Kongnanta
Director & Deputy Financial Director: Araya Panichayunont
Associate Director-Accounting: Wimolwan Saelao

Shareholders

PASSAKORNNATEE TAN (27.7%)
SUKKHAPHANTHAWON JARUWORN (6.6%)
PHATKRONTHI ING (4.6%)
PHATSAKRONTHI KLAINATHI (4.6%)
PHATSAKRONTHI PHATSAKON (4.6%)
PHATSAKRONTHI WARISA (3.6%)
SUKKHAPHANTHAWON CHARUWAT (3.0%)
JIRANONKAN THITI (2.6%)
SUKKHAPHANTHAWON SUPHANI (2.0%)
CHEN MEI FANG /ICHITAN/ (1.9%)

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

Related Companies

I am Green Tea Co. Ltd.

Competitors

SermSuk Public Co. Ltd.
Oishi Group Public Co. Ltd.
ITO EN,Ltd.
Sapporo Holdings Limited

Last Updated on 7 Aug, 2020