10 Quick Things That Investors Should Know About Thai Beverage Public Company Limited’s Latest Earnings

Thai Beverage Public Company Limited (SGX: Y92) is a food & beverages company with four different business segments, namely, Spirits, Beer, Food, and Non-Alcoholic Beverages.

In late November, Thai Beverage reported its full year results for its fiscal year ended 30 September 2017 (FY2017). Here are 10 things investors should know about the company’s latest results:

1. Revenue for FY2017 was flat year-on-year at THB 190 billion.

2. EBITDA (earnings before interest, taxes, depreciation, and amortization) improved by 27.3% to THB 45.1 billion. Excluding fair value gain on financial assets from Fraser and Neave Limited (SGX: F99), Thai Beverage’s EBITDA for FY2017 would have been THB 36.6 billion instead, up 3.3% from FY2016.

3. Thai Beverage’s FY2017 net profit improved 38.5% year-on-year to THB 34.8 billion. Without the aforementioned fair value gains, the net profit would have been THB 26.2 billion, an improvement of 4.6% from FY2016.

4. Given the higher EBITDA and net profit despite the flat revenue, it should be no surprise to learn that Thai Beverage’s EBITDA margin and net profit margin both increased in FY2017. During the year, the EBITDA margin (before the recognition of fair value gains) improved from 18.6% to 19.3%; meanwhile, the net profit margin (again before recognition of fair value gains) climbed from 13.2% a year ago to 13.8%.

5. Sales volumes for Spirits, Soda Water, and other Non-alcoholic beverages were up by 2.7%, 49.2%, and 1.2%, respectively, in FY2017. On the downside, sales volume for Beer was down by 6.8%.

6. As of 30 September 2017, Thai Beverage had cash and bank balances of THB 9.9 billion but total borrowings of THB 40.7 billion. This gives a net debt position of THB 30.7 billion, down from THB 41 billion a year ago.

7. Net asset value per share was up 7.3% to THB 5.13.

8. In FY2017, the Spirits, Beer, Non-alcoholic Beverages, and Food segments accounted for 57.5%, 30.2%, 8.8% and 3.6%, respectively, of Thai Beverage’s total revenue.

9. In terms of net profit, the Spirits, Beer, Non-alcoholic Beverages, and Food segments accounted for 89.6%, 13.7%, -3.8%, and 0.5%, respectively.

10. Thai Beverage declared a final dividend of THB 0.47. Including the interim dividend of THB 0.20, the total dividend for FY2017 would be THB 0.67 per share, up 11.7% from FY2016.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Lawrence Nga doesn’t own shares in any companies mentioned.