ThaiBev’s net profit falls 4.8% YoY to $1.1m in FY2021

The decrease was driven by profit declines in their beer and non-alcoholic businesses.

The net profit of SGX-listed beverage company, ThaiBev, excluding non-recurring items, dipped 4.8% year-on-year (YoY) to $1.1m (27.339m baht) in the financial year 2021.

Including the non-recurring items, however, the net profit rose 4.9% YoY.

The company attributed the decrease to declines in net profits of their bee business, non-alcoholic beverage business, and a net loss of their food business, which were still reeling from the impact of the pandemic.

Specifically, their beer business net profit declined by 11.4% to $126,431 (3.119m baht), whilst their non-alcoholic beverages business by 30.2% to $18.596m (458m baht).

Meanwhile, their food business saw a 383.2% net loss during the year, sinking to $19.78m (488m baht).

ThaiBev’s spirit business, on the other hand, remained resilient with only a 0.6% decrease in net profit to $897, 340 (22.138m baht).

1 SGD = 24.64 Thai baht