$THAI BEVERAGE PUBLIC CO LTD(Y

2022-08-26

$THAI BEVERAGE PUBLIC CO LTD(Y92.SI)$Thai Beverage (THBEV SP)3QFY22: Solid Results, As Beer Outperforms

THBEV released its 3QFY22 business update where 9MFY22 revenue was in line while EBITDA was slightly above our expectations. This was driven by a stronger-than-expected recovery in the beer segment. Despite lower molasses costs, the spirits segment underperformed, dragged down by rising packaging costs.

We reckon THBEV is an attractive and undervalued stock with high potential upside. Maintain BUY with a slightly lower SOTP-based target price of S$0.89 (S$0.94).

https://s3-ap-southeast-1.amazonaws.com/investingnote-production-webbucket/attachments/9a8ffe24e9490a9a6342dc34d2034ff3176b8a25.pdf?1661510071

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Comments

Stingray8
2022-08-26
Stingray8
Price still drop 🤦🏻
Anselo
2022-08-29
Anselo
thanks
KST66
2022-08-28
KST66
Thanks
boo1234
2022-08-28
boo1234
go
RT_SG
2022-08-28
RT_SG
[Like]
kyz
2022-08-28
kyz
ok

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