SABINA’s performance for the fiscal year 2023 (January to December) swept in revenue of 3,450.4 million baht, marking an 8.3% increase from the same period in the previous year while setting a new historical revenue record, surpassing the previous record of 3,295 million baht in 2019. The net profit stood at 462.5 million baht, reflecting a 10.9% increase compared to the previous year. Key factors contributing to this growth included the resurgence of purchasing power as the public returned to complete normal life, coupled with targeted customer engagement through products that met specific needs. The company’s successful strategies included collaboration with popular characters, impactful marketing campaigns, especially the Mega Campaigns in late 2023, such as 9.9 and 11.11 campaigns, driving the net profit for the fourth quarter of the fiscal year 2023 to grow by 7.1%. The board had approved a dividend payout of 100% of the net profit at a rate of 1.33 baht per share, scheduled for payment on May 17, 2024. Emphasizing continuous progress, the company aims for a 10% growth throughout the year, focusing on growth in all sales channels. The revenue increase from investments in the Philippines exceeded expectations.
Miss Duangdao Mahanavanont, the CEO of SABINA Public Company Limited or SABINA, a manufacturer and distributor of “SABINA” lingerie products revealed that the company’s performance for the first quarter of the fiscal year 2023 amounted to a total revenue of 3,450.4 million baht. This represents an increase of 264.7 million baht or 8.3% growth from the same period in the previous year, setting a new historical revenue record. The previous record was set in 2019 at 3,295 million baht. The net profit for the fiscal year 2023 was 462.5 million baht, showing an increase of 45.3 million baht or 10.9% growth compared to 2022. This growth exceeded the company’s expectations. The net profit margin for the fiscal year 22023 stood at 13.4%.
In the fourth quarter of 2023, the company achieved a net profit of 113.6 million baht, an increase of 7.5 million baht or 7.1% compared to the fourth quarter of 2022.
Simultaneously, at the company’s Board meeting held on February 22, 2024, a resolution was passed to approve the dividend payment for the performance of the first quarter of 2023 at a rate of 1.33 baht per share, representing 100% of the net profit. Prior to this, the company had already distributed interim dividends at a rate of 0.66 baht per share, leaving a remaining dividend payment at a rate of 0.67 baht per share. The record date for determining the shareholders eligible for dividend payment is set on May 7, 2024, and the dividend is scheduled to be paid on May 17, 2024.
For the factors supporting the growth of operational performance in the year 2023, aside from the resurgence of purchasing power following consumers’ ability to return to normal life, it also stemmed from SABINA’s strategy that focused on development of customer center. This included the development of innovative products that catered to customer lifestyles, leading to the success of the “SABINA Braless” product, which had consistently driven sales throughout 2023. Moreover, SABINA’s strategy involved collaboration with various characters in creating special collections that stimulated consumer demand and added vibrancy to purchasing behavior. Meanwhile, the company had improved the accessibility and convenience of its sales channels, resulting in a 5.6% expansion in the Retail channel, and a 33.6% growth in the non-store retailing (NSR) channel. However, there was 29.5% decline in the Original Equipment Manufacturer (OEM) channel but there is a positive trend indicating a potential resurgence in the OEM channel this year.
“The results of the past year are considered a successful unlocking, having achieved record-breaking revenue with the boost from the recovery of purchasing power in the country. Additionally, investments in the Philippines have shown good growth. In 2023, we recognized revenue from the Philippines, albeit not for the full year, but it exceeded our expectations. This year, SABINA will recognize revenue from Moda in the Philippines based on the full-year equity holding proportion for the first time, which is expected to be satisfactory. At the same time, we have set growth targets for all sales channels, including retail, online, and the original equipment manufacturer (OEM) channels, which are expected to expand to normal levels again. This will support revenue growth by 10% this year, in line with our set goals,” said the CEO of SABINA.
Furthermore, SABINA remains committed to maintaining profitability and expanding the net profit margin, reflecting the company’s strength through revenue increasing from diverse products, covering a wider target customer base. In the first quarter of this year, SABINA introduced a superiority lingerie product line through a collaboration with Janesuda, a Thai fashion brand, for a special collection called Janesuda x SABINA. There will be continuous surprise collections and more international market expansion events at the regional level.
At the same time, SABINA is proactive in cost control, particularly in the development of manufacturing innovations to reduce production losses. Additionally, the company is focused on sustainable product development as part of its social and environmental responsibility. This approach aligns with SABINA’s commitment to sustainability across all relevant sectors going forward.
