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'BeerCo', ThaiBev's impending spin-off, reports 1QFY21 earnings of $77 mil, up 72.4%

The Edge Singapore
The Edge Singapore2/11/2021 1:43 AM GMT+08  • 2 min read
'BeerCo', ThaiBev's impending spin-off, reports 1QFY21 earnings of $77 mil, up 72.4%
The spin off will create the largest beer “platform” in Asean, with a volume market share of 23.4% for FY2020.
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“Beerco”, the beer business poised to be spun off for a separate listing by Thai Beverage Public Co, has reported revenue of $1.3 billion for the 1QFY21 period ended Dec, down 11.4% y-o-y.

However, due to better cost control, the entity was able to report higher earnings of $77 million, up 72.4% y-o-y from $45 million recorded in 1QFY20.

“Beerco” sells mainly in Thailand, under its flagship brand “Chang”. It is also active in Vietnam, via the “Saigon” brand.

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