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Consumer Non-Durables

Ichitan Group Public Co., Ltd.

  • 4.62 THB
  • +0.14
  • +3.13%
  • Thailand
    Aug 14, 2018
  • Ticker
    BKK(ICHI)
  • Prev. close
    4.48
  • Market cap (THB)
    5,824M
  • Market cap (USD)
    175.15M
  • Shares
    1,300M

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 the manufacture and trade of beverages. It manufactures and sells 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 2017 THBUSD
Revenue5,687.51M167.60M
Gross Profit1,341.45M39.53M
Operating income496.56M14.63M
Income before tax434.12M12.79M
Net income315.09M9.28M
EBITDA1,019.75M30.05M
Diluted EPS0.240.00
Dividends Per Share0.150.00
Total Assets8,626.30M264.69M
Total liabilities2,570.12M78.86M
Total equity6,056.17M185.82M
Operating cash flow1,178.37M34.72M
Currency in THBCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 6,484.37M 6,179.08M 6,339.57M 5,338.26M 5,687.51M
Gross Profit 2,048.21M 2,102.48M 2,110.87M 1,380.05M 1,341.45M
Operating income 997.80M 1,210.77M 965.27M 526.31M 496.56M
Income before tax 883.65M 1,019.64M 905.30M 424.89M 434.12M
Net income 883.65M 1,078.76M 812.74M 368.48M 315.09M
EBITDA 1,264.95M 1,580.68M 1,453.44M 1,039.78M 1,019.75M
Diluted EPS 0.88 0.89 0.63 0.28 0.24
Dividends Per Share -- 1 0.50 0.25 0.15
Total Assets 6,540.93M 9,009.23M 8,854.28M 8,626.86M 8,626.30M
Total liabilities 4,572.62M 2,814.29M 2,821.83M 2,875.61M 2,570.12M
Total equity 1,968.31M 6,194.93M 6,032.44M 5,751.25M 6,056.17M
Operating cash flow 783.57M 1,362.29M 1,281.63M 1,214.22M 1,178.37M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 211.01M 190.22M 184.97M 151.30M 167.60M
Gross Profit 66.65M 64.72M 61.59M 39.11M 39.53M
Operating income 32.47M 37.27M 28.16M 14.91M 14.63M
Income before tax 28.75M 31.38M 26.41M 12.04M 12.79M
Net income 28.75M 33.20M 23.71M 10.44M 9.28M
EBITDA 41.16M 48.66M 42.40M 29.47M 30.05M
Diluted EPS 0.02 0.02 0.01 0.00 0.00
Dividends Per Share -- 0.03 0.01 0.00 0.00
Total Assets 199.05M 273.83M 246.05M 240.90M 264.69M
Total liabilities 139.15M 85.54M 78.41M 80.30M 78.86M
Total equity 59.89M 188.29M 167.63M 160.60M 185.82M
Operating cash flow 25.49M 41.93M 37.39M 34.41M 34.72M

Valuation Measures

Dec 2017
PER37.91
ROA3.65%
ROE5.33%
Operating margin8.73%
Profit margin5.54%

Key executives

  • Chairman & Chief Executive Officer: Tan Passakornnatee
  • Executive Vice President-Accounting & Finance: Preecha Augcharanonda
  • Director & Executive Vice President-Beverage: Thanapan Kongnanta
  • Director & Executive Vice President-Factory: Wiroj Supasoon
  • Secretary: Apichat Sukachirawat

Shareholders

  • PASSAKORNNATEE TAN (27.7%)
  • SUKKHAPHANTHAWON JARUWORN (6.3%)
  • PHATKRONTHI ING (4.6%)
  • PHATSAKRONTHI KLAINATHI (4.6%)
  • PHATSAKRONTHI PHATSAKON (4.6%)
  • PHATSAKRONTHI WARISA (4.0%)
  • SUKKHAPHANTHAWON CHARUWAT (3.0%)
  • CHIU YUEH CHIN (2.6%)
  • SUKKHAPHANTHAWON SUPHANI (2.0%)
  • CHEN MEI FANG /ICHITAN/ (1.9%)

Contact Details

  • Website:http://www.ichitangroup.com
  • Address: 2922/301-303, 28th Floor, Charn Issara II Bldg, Petchburi Rd, Bangkok, 10310, Thailand
  • Phone: +66.2.716.5555

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    • Oishi Group Public Co. Ltd.
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    Last Updated on 14 Aug, 2018

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