10 Quick Things That Investors Should Know About Thai Beverage Public Company Limited’s Latest Earnings
Last week, Thai Beverage Public Company Limited (SGX: Y92) reported its second quarter earnings for the financial year ending 30 September 2018. As a quick introduction, Thai Beverage is a company operating in four different segments, namely, Spirits, Beer, Food, and Non-Alcoholic Beverages.
Here are 10 things investors should know about Thai Beverage’s latest quarter:
1. Revenue was up 34.3% year-on-year to THB 67.6 billion.
2. EBITDA (earnings before interest, tax, depreciation and amortization) grew by 28.2% as compared to last year to THB 11.9 billion.
3. Net profit attributable to shareholders declined 3.2% year-on-year to THB 6.3 billion.
4. EBITDA margin (before recognition of fair value gain) improved from 17.6% for the same period last year to 18.4%. Similarly, net profit margin was up from 11.0% last year to 13.1% in the latest quarter.
5. Sales volume for Spirits, Soda Water, Beer and Non-alcoholic beverages were up by 17.7%, 0.8%, 153.3% and 1.7%, respectively, year-on-year.
6. In the latest quarter, Spirits, Beer, Non-alcoholic beverages and Food accounted for 51.1%, 36.7%, 7.2% and 5.1% of Thai Beverage’s revenue respectively.
7. Spirits, Beer, Non-alcoholic and Food accounted for 85.8%, 16.2%, -4.8% and 2.8% of Thai Beverage’s net profit respectively.
8. As at 31 March 2018, the group had cash and cash equivalents of THB 20.4 billion and total borrowings of THB 234.5 billion. This gives a net debt position of THB 214.1 billion, up from the THB 30.7 billion recorded on 30 September 2017.
9. Gearing ratio (or net-debt-to-equity) stood at 188%, as at 31 March 2018.
10. In the quarter ended 31 March 2018, Thai Beverage acquired 75% of Havi Logistics, which operates logistic businesses for food services in Thailand. Havi’s operations were recognised under Food business segment.