Thai Beverage shares: what to expect from 2022 results
- Thai Beverage (SGX: Y92) rose to S$0.62 on Tuesday (22 November 2022)
- The food and beverage giant is due to announce its fourth quarter (Q4) results
- CIMB analysts have kept an ‘add’ call and share price target of S$0.88
- Keen to trade Thai Bev shares? Start today with an IG account.
ThaiBev stock price target: what’s the latest?
Thai Beverage (ThaiBev) shares rallied to a one-month high of S$0.62 ahead of its Q4 and full-year financial results for FY2022.
The Chang Beer maker’s stock value is down by roughly 7% this year.
In terms of outlook, ThaiBev shares have a consensus rating of ‘outperform’ and an average price target of S$0.83, based on the latest SGX StockFacts data.
The price target equates to a 35% upside potential from its last traded price of S$0.62.
CIMB’s equity research team maintained an ‘add’ rating and share price target of S$0.88 in its latest investor note.
The analysts cited how ThaiBev’s Vietnam-listed subsidiary Sabeco’s solid third-quarter results ‘could be a slight positive read-through’ to Thai Beverage’s own results for the September 2022-ending quarter, as Sabeco typically constitutes 10% to 15% of ThaiBev’s overall net profit.
With Thailand’s further economic reopening and improving consumer sentiment, CIMB analysts forecast that ThaiBev’s fourth quarter revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) will grow 34% and 56% year-on-year (YoY) respectively.
How will Thai Beverage fare in Q4 2022?
ThaiBev said its board of directors have met to consider and endorse, among other matters, the company’s 2022 operating results and financial statements ended 30 September 2022. The company is due to release its full-year results after the market closes on Friday (25 November 2022).
The food and beverage maker saw sales revenue increase 8.2% YoY for the first nine months of FY2022, following the easing of Covid-19 measures and the reopening of Thailand and Vietnam.
It also delivered an EBITDA growth of 6.7% YoY, underpinned by ‘satisfactory improvements’ in EBITDA from the beer, non-alcoholic beverage and food businesses.
ThaiBev’s cash and cash at financial institutions at the end of the nine month period came up to 48 billion baht (S$1.84 billion).
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