The following is a summary of the Thai Beverage Public Company Limited (TBVPF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Thai Beverage reported a total sales revenue of 147,742 million for the first half of 2024, a slight decrease of 0.4% YoY, mainly due to decreased sales revenue in the beer business segment.

• Net profit was INR 15,970 million, down 4.9% YoY due to a weaker performance in the food business and associated companies.

• An interim dividend payment of THB 3,769 billion, equivalent to THB 0.15 per share, has been proposed.

• The spirits business saw a modest increase in sales revenue and net profit, suggesting the segment remains healthy.

• Despite a decrease in sales, the beer business increased its net profit by 7.1%.

• The non-alcoholic beverages and food sectors saw increases in sales revenue despite various challenges.

Business Progress:

• Price increases across all Thai Beverage products were observed, both domestically and internationally, to cope with rising costs.

• Thai Beverage does not foresee opportunities for further significant reductions in Selling, General & Administrative expenses, and will instead focus on gradual improvements in efficiency.

• Competition in the fast-food sector, represented by KFC, is not expected to increase significantly with the addition of Divani International Limited as a franchisee of Yum brands.

• Potential acquisitions are being considered but must align with strategic goals.

• The company is prepared to follow the trend of low-alcohol beverages in their core markets if necessary, even though the trend is progressing slower in these regions.

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