Tan Passakornnatee, CEO of Ichitan Group Public Company Limited (SET: ICHI), disclosed the company’s business overview at the Opportunity Day event hosted by the Stock Exchange of Thailand (SET) on March 5, 2025.
The CEO announced that in 2024, the company achieved total revenues of THB 8,671.14 million, representing a 7.24% increase compared to the previous year’s THB 8,085.04 million.
The net profit also rose to THB 1,306.27 million, an 18.70% growth from the prior year’s THB 1,100.42 million, driven by the expansion of domestic sales.
For the first quarter of 2025, the company acknowledged a slowdown in sales during January and February due to extended cold weather in Thailand. However, with the advent of warmer weather in March, the company’s product sales are expected to improve.
The company projects its 2025 revenues to grow to THB 9,500 million, a 10.5% increase compared to the previous year. It anticipates a gross margin exceeding 25% and a net profit growth of at least 15%.
The marketing budget is expected to remain close to the previous year’s approximately 385 million baht.
Tan further stated that the company plans to strengthen its brand by launching seven new products and numerous sales campaigns in the first half of 2025.
The strategy will focus on brand building, expanding distribution channels, and developing products that cater to the needs of different consumer segments, marking a proactive strategy to watch in the Thai beverage market.
Additionally, in the second half of 2025, the company plans to introduce new products that match or exceed the number launched in the first half, reinforcing its leadership in the beverage market with product development that keeps pace with consumer trends.
Regarding the progress of selling land to partners for the construction of a new production facility, the factory is expected to be completed in nine months, with machinery installation taking an additional three months.
Production is anticipated to commence in one year to 14 months. Payment delays due to pending BOI license approval are being addressed, and the profit from the land sale is expected to be recorded in 2-3Q25. Meanwhile, the company will soon start accruing interest.
