Thai Beverage Public Co., Ltd.
In the news
- Thailand economy czar hit by party revolt at pandemic turning point Jun 5, 2020
- Can I drink or not? Thailand's fickle booze policy sows confusion May 15, 2020
- Thailand's family conglomerates have a stranglehold over food retail Apr 1, 2020
- Thai CP Group bets on $4bn project to snatch TCC's crown Dec 18, 2019
- ThaiBev confirms potential beer IPO after shares jump Nov 30, 2019 See more articles on Thai Beverage Public Co., Ltd.
Company Background
Thai Beverage, Thailand's largest thirst-quencher, offers both alcoholic and non-alcoholic drinks. One of its best-known brands is Chang beer, which controls the second largest slice of Thailand's beer market, after Singha beer. Thai Beverage is listed on the Singapore stock exchange; the Thai bourse restricts the listing of alcohol-related stocks.
The company was founded in 2003 through the consolidation of 58 beer and spirits businesses, such as the Chang beer, owned by billionaire Charoen Sirivadhanabhakdi, a Chinese immigrant. Charoen has expanded into non-alcohol business in recent years through acquisitions of beverage makers. Brands owned include green-tea beverage Oishi and est cola, a Pepsi knockoff. In 2012, it acquired a roughly 29% stake in Singaporean beverage maker Fraser and Neave, in line with its long-term strategy to strengthen its non-alcoholic business and operations outside Thailand.
The Sirivadhanabhakdi family's stake in Thai Beverage is around 30%. Charoen is chairman and his son Thapana serves as president and CEO.
While Thai Beverage is its core business, the family also has investments in real estate, hotels, financial and consumer products. It has a majority stake in Thai-listed trading house Berli Jucker, which recently acquired Metro's Vietnam operations. Metro is a German-based chain of warehouse-style retailers and wholesalers.
Business Summary
Financial Highlights
| Sep 2019 | SGD | USD |
| Revenue | 11,535.21M | 8,437.22M |
| Gross Profit | 3,229.54M | 2,362.19M |
| Operating income | 1,405.77M | 1,028.22M |
| Income before tax | 1,141.90M | 835.22M |
| Net income | 1,004.09M | 734.42M |
| EBITDA | 1,691.61M | 1,237.29M |
| Diluted EPS | 0.04 | 0.02 |
| Dividends Per Share | 0.02 | 0.01 |
| Total Assets | 18,484.67M | 13,366.59M |
| Total liabilities | 11,687.74M | 8,451.61M |
| Total equity | 5,238.56M | 3,788.10M |
| Operating cash flow | 1,514.09M | 1,107.45M |
| Currency in SGD | Currency in USD |
Historical Data
| Dec 2015 | Sep 2016 | Sep 2017 | Sep 2018 | Sep 2019 | |
| Revenue | 6,903.80M | 7,234.53M | 7,670.11M | 9,541.39M | 11,535.21M |
| Gross Profit | 1,972.44M | 2,128.73M | 2,315.19M | 2,669.43M | 3,229.54M |
| Operating income | 930.58M | 1,012.45M | 1,112.54M | 1,093.22M | 1,405.77M |
| Income before tax | 930.86M | 1,003.61M | 1,099.79M | 842.63M | 1,141.90M |
| Net income | 1,061.88M | 983.65M | 1,393.15M | 745.33M | 1,004.09M |
| EBITDA | 1,109.15M | 1,183.66M | 1,286.25M | 1,345.66M | 1,691.61M |
| Diluted EPS | 0.04 | 0.02 | 0.05 | 0.02 | 0.04 |
| Dividends Per Share | 0.02 | 0.02 | 0.02 | 0.01 | 0.02 |
| Total Assets | 7,175.72M | 7,383.99M | 7,909.09M | 17,722.17M | 18,484.67M |
| Total liabilities | 2,473.85M | 2,516.02M | 2,513.40M | 11,153.50M | 11,687.74M |
| Total equity | 4,568.57M | 4,724.65M | 5,243.68M | 5,110.15M | 5,238.56M |
| Operating cash flow | 939.05M | 777.43M | 1,255.37M | 868.71M | 1,514.09M |
| Dec 2015 | Sep 2016 | Sep 2017 | Sep 2018 | Sep 2019 | |
| Revenue | 5,020.00M | 5,242.30M | 5,499.98M | 7,099.27M | 8,437.22M |
| Gross Profit | 1,434.23M | 1,542.53M | 1,660.15M | 1,986.19M | 2,362.19M |
| Operating income | 676.66M | 733.64M | 797.77M | 813.41M | 1,028.22M |
| Income before tax | 676.86M | 727.24M | 788.62M | 626.96M | 835.22M |
| Net income | 772.13M | 712.77M | 998.98M | 554.56M | 734.42M |
| EBITDA | 806.50M | 857.70M | 922.33M | 1,001.23M | 1,237.29M |
| Diluted EPS | 0.03 | 0.02 | 0.03 | 0.02 | 0.02 |
| Dividends Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Total Assets | 5,058.13M | 5,415.67M | 5,824.28M | 12,970.44M | 13,366.59M |
| Total liabilities | 1,743.80M | 1,845.33M | 1,850.88M | 8,162.99M | 8,451.61M |
| Total equity | 3,220.36M | 3,465.22M | 3,861.46M | 3,740.00M | 3,788.10M |
| Operating cash flow | 682.81M | 563.34M | 900.18M | 646.36M | 1,107.45M |
Valuation Measures
| Sep 2019 | |
| PER | 22.12 |
| ROA | 5.54% |
| ROE | 19.40% |
| Operating margin | 12.18% |
| Profit margin | 8.70% |
Key executives
- Chief Executive Officer & CEO-Center of Excellence: Thapana Sirivadhanabhakdi
- COO, Executive Director & Senior Executive VP: Ueychai Tantha-Obhas
- Executive Director & Senior Executive VP-Finance: Sithichai Chaikriangkrai
- Executive Director & SEVP-Technology & Engineering: Pisanu Vichiensanth
- Chief People Officer & EVP: Agapol Na Songkhla
Shareholders
- SIRIVADHANABHAKDI FAMILY (45.2%)
- MM Group Ltd. (20.6%)
- Capital Research & Management Co. (Global Investors) (1.1%)
- FIL Investment Management (Singapore) Ltd. (0.7%)
- Fidelity Management & Research Co. LLC (0.7%)
- TEJAPAIBUL VIVAT (0.6%)
- Matthews International Capital Management LLC (0.5%)
- SIRIVADHANABHAKDI PANOTE (0.4%)
- SIRIVADHANABHAKDI THAPANA (0.4%)
- TECHAJAREONVIKUL THAPANEE (0.4%)
Contact Details
- Website:http://www.thaibev.com
- Address: 14 Vibhavadi Rangsit Road, Chomphon, Chatuchak, Bangkok, 10900, Thailand
- Phone: +66.2.785.5555
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Competitors
- Del Monte Pacific Limited
- Monster Beverage Corporation
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Last Updated on 27 Oct, 2020
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