ThaiBev H1 profit falls 3.2% to 14.2 billion baht on impairment loss

[SINGAPORE] Thai Beverage (ThaiBev) posted a 3.2 per cent drop in net profit to 14.2 billion baht (S$559.5 million) for its first half ended Mar 31, from 14.7 billion baht in the previous corresponding period.This was due largely to a non-recurring item related to an impairment loss of 1.7 billion baht from the discontinued operations of a joint venture. Excluding this one-off loss, the group’s attributable profit from normal business operations would have increased 8.5 per cent year on year to 16 billion baht, from 14.7 billion baht.Earnings per share stood at 0.57 baht for H1 FY2026, down from 0.59 baht in H1 FY2025.Revenue for the half-year fell 2.5 per cent to 173.2 billion baht from 177.6 billion baht in the year-ago period. ThaiBev said this decline was driven primarily by softer performance in the beer and non-alcoholic beverage (NAB) segments, which experienced sales revenue decreases of 5.4 per cent and 5.5 per cent, respectively.Navigate Asia ina new global orderGet the insights delivered to your inbox.An interim dividend of 0.15 baht per share was declared for H1 FY2026, unchanged from the year before. It will be paid out on Jun 12.The spirits business posted a 1.3 per cent rise in revenue to 65.4 billion baht, supported by “higher sales volume, lower key raw material costs, and strong growth momentum in the international business”. The beer segment’s revenue fell 5.4 per cent to 62.6 billion baht as it was hit by “subdued market conditions in Thailand”, as well as “severe weather in Vietnam”, in the first quarter. SEE ALSOSupermarkets, health-and-beauty retailers set to perform in 2026, DBS says, naming top picks The NAB segment’s 5.5 per cent revenue drop to 31.6 billion baht was amid “softer consumer demand and geopolitical uncertainties”.Meanwhile, the food business expanded 1.6 per cent to 11.3 billion baht, “supported by continued growth of the quick service restaurant business” despite cautious consumer spending. While the Thai economy expanded during the period, the company noted that “persistently high household debt” and regional conflicts remain barriers to recovery. It also said that in Vietnam, it faces intense competition and strict regulatory requirements influencing alcohol consumption.Shares of ThaiBev closed flat at S$0.42 on Thursday, before the results were announced.Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.