Thai Beverage Public Company Limited Company Profile and SWOT Analysis Thai by ICDResearch

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									Thai Beverage Public Company Limited

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Thai Beverage Public Company                                               Financial Snapshot

Limited                                                                    Operating Performance

Fast Facts                                                                 The company reported revenue of US$3,809.85
                                                                           million during the fiscal year 2010 (2010). The
                                      14 SangSom Building, Bangkok,        company's revenue grew at a CAGR of 10.20%
Headquarters Address
                                      10900,Thailand                       during 2006–2010, with an annual growth of 21.67%
                                                                           over 2009. In 2010, the company recorded an
Telephone                             + 66 2 21275555
                                                                           operating margin of 12.37%, as against 14.36% in
                                                                           2009.
Fax                                   + 66 2 22722328

Website                               www.thaibev.com                      Revenue and Margins

                                      Y92, Singapore Exchange Securities
Ticker Symbol, Stock Exchange
                                      Trading

Number of Employees                   22,000

Fiscal Year End                       December

Revenue (in US$ million)              3,809.85

Revenue (in THB million)              121,724.69




                                                                           Return on Equity
SWOT Analysis
                                                                           The company recorded a return on equity (ROE) of
Strengths                             Weaknesses                           18.31% for 2010, as compared to its peers, Asia
                                                                           Pacific Breweries Limited (Ticker: A46), Haad Thip
Strong Operating Performance vis-a-                                        PCL (Ticker: HTC) and Serm Suk Public Company
                                      Overdependence on Thailand
vis Competitors                                                            Limited (Ticker: SSC), which recorded ROEs of
                                      Weak Liquidity Position vis-à-vis    23.25%, 6.09% and 4.68% respectively. The
Wide Product Portfolio                                                     company reported an operating margin of 12.37% in
                                      Competitors
                                                                           2010.
Opportunities                         Threats
Growing Beer Market in Emerging                                            Return on Equity
                                      Beer Industry Consolidation
Countries
Rising Non-Alcoholic Ready-to-Drink
                                      Increase in the Input Costs
Beverages Dem

                                      Limitations on Commercialization




                                                                           Liquidity Position

                                                                           The company reported a current ratio of 1.92 in 2010,
                                                                           as compared to its peers, Asia Pacific Breweries
                                                                           Limited, Haad Thip PCL and Serm Suk Public
                                                                           Company Limited, which recorded current ratios of
                                                                           1.12, 0.99 and 1.68 respectively. As of December
                                                                           2010, the company recorded cash and short-term
                                                                           investments of worth US$105.15 million, against
                                                                           US$256.47 million current debt. The company
                                                                           reported a debt to equity ratio of 0.16 in 2010 as
                                                                           compared to its peers, Asia Pacific Breweries Limited,
                                                                           Haad Thip PCL and Serm Suk Public Company
                                                                           Limited, which recorded debt to equity ratios of 0.39,
                                                                           0.10 and 0.00 respectively.




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Thai Beverage Public Company Limited - SWOT                                                                        Page 1
Profile
Thai Beverage Public Company Limited

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TABLE OF CONTENTS

1     Business Analysis ................................................................................................................................... 5
    1.1       Company Overview ................................................................................................................................................5
    1.2       Business Description ..............................................................................................................................................5
    1.3       Major Products and Services .................................................................................................................................6
2     Analysis of Key Performance Indicators ............................................................................................... 8
    2.1       Five Year Snapshot: Overview of Financial and Operational Performance Indicators ..........................................8
    2.2       Key Financial Performance Indicators .................................................................................................................11
      2.2.1       Revenue and Operating Profit .........................................................................................................................11
      2.2.2       Asset, Liabilities and Capex .............................................................................................................................12
      2.2.3       Net Debt vs. Gearing Ratio ..............................................................................................................................13
      2.2.4       Operational Efficiency ......................................................................................................................................14
      2.2.5       Solvency ..........................................................................................................................................................15
      2.2.6       Valuation ..........................................................................................................................................................16
    2.3       Competitive Benchmarking ..................................................................................................................................17
      2.3.1       Market Capitalization .......................................................................................................................................17
      2.3.2       Efficiency ..........................................................................................................................................................18
      2.3.3       Capital Expenditure ...........................................................
								
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