CBG’s 2Q Profit Jumps 163% to Book ฿552m, Paying ฿0.50 Dividend, XD 22 August

Carabao Group Public Company Limited (CBG) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

The net profits of CBG in 2Q19 were THB 552 million, an increase of THB 342 million or 163.0%, representing a ratio to sales of 14.7%, an increase from 5.8% ratio, mainly driven by overall improving gross profit margin and significantly less loss recognized from the ICUK operation.

Domestic sales were THB 1,984 million, up by THB 10 million or 0.5% due to an increase in sales of branded product by own manufacture of THB 20 million or 1.4% and a rise in sales of 3rd party product for distribution of THB 69 million or 28.1%, which offset a drop in sales of branded product by 3rd party’s manufacture of THB 79 million or 34.8%.

Overseas sales were THB 1,748 million, increased by THB 110 Million or 6.7%. The amount included the export sales of energy drinks to CLMV market of THB 1,276 million, China of THB 188 million, sales in the UK under the operation of Intercarabao Limited (“ICUK”) of THB 12 million, and the rest to many other countries totaling of THB 272 million, rose by THB 161 million or 145.9%.

In 2Q/2019 export sales to CLMV countries, the original export market and a large international business base, decreased by THB 167 million or 2.8% mainly due to a drop in sales to Vietnam whereas the others continued to demonstrate an adherent growth thanks to the extensive distribution coverage and wider consumer base. Additionally, the Company still put an emphasis on repeating the success of Carabao energy drinks in other countries and expanding the international business base by tapping into new export markets, for example, Singapore, Iran, Papua New Guinea and India.

In addition, the Board of Directors has passed a resolution to pay an interim dividend from the operating results for the six‐month period ended June 30, 2019 at ฿0.50/share. The ex-dividend date will be on August 22, 2019 and the payment date will be on September 5, 2019.