Thailand beverage major ThaiBev earns $827 mln revenue in Vietnam from Oct 2023-Mar 2024

Thai Beverage (ThaiBev), among the biggest beverage firms in Thailand, earned a revenue of THB30,306 million ($827 million) in Vietnam from October 2023-March 2024, or the first half of fiscal year 2024, down 3% year-on-year.

Beer made up the biggest portion of the figure, with THB29,359 million ($801.3 million), according to ThaiBev’s financial statement for the period.

Globally, in the six-month period, ThaiBev recorded a revenue of THB149,566 million ($4.08 billion), down 0.4% year-on-year. Thailand, the domestic market, was the biggest source of income with THB107,148 million.

For the three months ending March 2024, or the second quarter of fiscal year 2024, ThaiBev’s revenue in Vietnam reached THB13,196 million ($360.2 million), up 16.4% year-on-year. Beer was the only cash earner in the period.

Regarding the beer business, for the second quarter of fiscal year 2024, ThaiBev reported its global sales volume was 532.7 million liters, up 7.1% year-on-year. Excluding Sabeco, ThaiBev’s beer unit and a heavyweight in Vietnam, the figure was 211.9 million liters, up 8.2%.

For the first half of fiscal year 2024, ThaiBev’s global beer sales reached 1,113.9 million liters, down 5.7% year-on-year. Without Sabeco, the figure was 420.3 million liters, down 5.4%.

Ho Chi Minh City-based Sabeco, which is 53.59% owned by Thai-controlled Vietnam Beverage Co. and indirectly by ThaiBev, reported increases in both revenue and profit from January-March 2024 despite being hard-hit by a campaign against drunk driving.

The brewer earned a consolidated net profit of VND997.27 billion ($39.3 million) in the period, up 3.1% year-on-year, the firm’s consolidated financial statements showed.

Its revenue reached VND7,183.5 billion ($283 million), up 16.6% year-on-year, in the three-month period.