Carabao Group Public Company Limited (SET: CBG) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q22 | 1Q21 |
| Net Profit (Loss) Million Baht |
660.25 | 700.21 |
| Earning Per Share (Baht) |
0.66 | 0.70 |
| % Change | -5.7 | |
In 1Q22, CBG reported a net profit of THB660 million, down by -5.7%, due mainly to change in product mix and price hikes for raw materials and packaging materials.
Total revenue from sales amounted to THB4,783 million, up by 18.7% YoY. Of which, revenue from 3rd party products for distribution amounted to THB1,417 million, up by 100.7% YoY, as a result of effective coverage through the cash van operations, coupled with continuous improvements in product selection and quality. Other revenue from sales amounted to THB257 million, up by 305.9% YoY, which was mainly derived from producing and selling glass bottles to outside parties. Such diversification came into play and offset slowdown in the sales of branded own products.
Gross profits amounted to THB1,466 million, down by-5.7% YoY, which were equivalent to gross profits margin of 30.7% versus 38.6% a year ago. Such a decrease resulted from change in product mix. Sales of branded own products declined in proportion to which they accounted for 62.5% of total revenue from sales versus 78.2% a year ago. Raw materials and packaging materials used for the productions also hiked up in price, especially the market price for aluminum coils.
