Thai Beverage Pcl Ord

Thank you for joining the Thai Beverage First Half 2024 Results Call. All participants have been placed in a listen-only mode. Later, we will conduct a question and answer session, and instructions will be given at that time. I will now hand over the call to the presenters, Ms. Nam Phon Angutsuturungzi, Thai BEF Head of Investor Relations, and the members of Thai BEF's Senior Management Team. Thank you.

good evening ladies and gentlemen welcome to thai barrage first half 2024 ended the 31st of march 2024 financial resource conference call i am namphoon angsutha langsi head of investor relations for the call tonight i will start with a summary of our first half results then we will open the line for q a with our management team here For the summary of the first half results, total sales revenue of the company for the first six months was 147,742 million baht, a slight decrease of 0.4% when compared to the same period last year. This was due to a decrease in sales revenue of the beer business. The net profit was $16,917 million, a decrease of 4.9% compared to the same period last year. This was due to a decrease in net profit of the food business and associated companies, partly offset by an increase in net profit of the spirits, beer, and non-alcoholic beverages business. Thai BEPS Board of Directors agreed to propose an interim dividend payment of 3,769 million baht or 0.15 baht per share, the same as last year. For the highlight of our first half results, in the first half of 2024, the split business generated sales revenue of 65,497 million, a 0.5% year-on-year increase Due to price adjustment and the portfolio mix, in light of the effective management and operational and administrative expenses, the business saw an improvement in net profit margin while maintaining a steady growth in net profit of 1.1% year-on-year, reaching the net profit of 12,975 million baht. The beer business recorded sales revenue amounting to 62,523 million baht in the first half of 2024, a decrease of 3.3% compared to the previous financial year. This was mainly due to a 5.7% year-on-year decline in total sales volume. However, net profit increased by a satisfactory of 7.1% to 2,713 million baht due to a decrease in key raw material packaging cost coupled with better production efficiency. The non-alcoholic beverage business recorded a 5.2% rise in sales revenue to 9,929 million baht in the first half. Sales revenue was lifted by a 6.3% increase in total sales volume across all categories, comprising drinking water, ready-to-drink tea, and carbonated soft drinks. Despite increased costs from brand investment and marketing activities, the business delivered a remarkable 24.6% growth in the net profit to 354 million baht due to lower cost of packaging and improved production efficiency. In the first half of 2024, the food business registered $9,856 million in sales revenue, a 5.2% increase compared to the same period last year. The increase was driven by the opening of the new stores to expand customer reach while production efficiency improved the increased cost of raw materials as well as the higher operational and administrative expenses especially in brand investment to support a sales growth weighted down on net profit which fell to 33 million baht So this is the summary of our first half 2024 financial results. Now we open the call to any questions on our results. Operator, please help open the line for Q&A.

Thank you. We will now begin the question and answer session. Participants with questions to pose, please press star 1 1 on your telephone keypad and you will be placed in the queue. To cancel the queue, please press star 1 1 again. So that was star 1 1 on your telephone keypad to register for any questions. And our first question comes from the line of Permada Damono from UBS. One moment, please, whilst we open your line for your question. Please go ahead. Your line is open.