Osotspa Shows 923MB Q3/2020 Net Profit – a 10.2% Growth Underlining ‘Agility’ – Quick to adjust, Promoting Power Brands and Driving M-150 and C-Vitt Market Shares

Osotspa Public Company Limited (OSP) announced its Q3/2020 performance with 923 million baht in net profit – a growth of 10.2 percent, as the Company puts the emphasis on “agility”. Power brands, namely M-150 and C-Vitt, will be promoted through powerful sale channels while the attention will also be on efficient cost management to support high capability of business operation. The Company is confident that this year’s profit will grow according to plan.

Mr. Thana Chaiprasit, Acting Chief Executive Officer of Osotspa Public Company Limited, Thailand’s leading manufacturer and distributor of consumer products, announced the Q3/2020 performance (July-September 2020) that the Company has shown growth as planned, making a net profit of 923 million baht, or an increase of 10.2 percent over the same period of the previous year. This is the result of OSP’s strength in its business operation, such as the ability to adjust quickly and effectively to changes in the market situation and the behavior of consumers. Also important is the forecast of the situation and the overall advanced preparations in production, marketing, sales, and logistics. In addition, some brands have an advantage of being long-time market leaders that are well accepted by consumers for their quality. These include M-150 and C-Vitt drinks and Babi Mild baby products.

The Company has retained its leadership in the energy drink market with a market share of 54.4-percent with M-150 being the market leader. The leader in the vitamin-C drink market is C-Vitt. Consumers like its exceptional taste and high quality as it is Thailand’s first high-dose vitamin-C drink brand from Japan. Furthermore, the advanced completion of the additional production line for C-Vitt resulted in quicker and more effective response to the demand of the functional drink market with higher volume. This has resulted in C-Vitt cornering 32.0 percent of the market and helping to push the growth of Thailand’s functional drink market.

As for personal care products, Babi Mild is considered to be one of Osotspa’s core brands that consumers prefer during COVID-19 pandemic situation. This is supported by the introduction of Healthi Plus, health and hygiene products to fulfill the consumers’ current needs. With the infusion of organic aloe-vela essence certified by ECOCERT®, Healthi Plus products are tested for possible skin irritation by expert dermatologists and containing no harmful chemicals. These include foaming handwash, hand sanitizer gel and hygienic surface cleaner. All these have helped to sustain growth.

In addition, the distribution channels have been expanded to support consumers purchasing through ecommerce while retaining offline channels such as modern trade and retail stores. This expansion has allowed Osotspa products to reach larger customer groups with different purchasing behavior and changed way of life during the COVID-19 pandemic. The “Fit Fast Firm,” a project to increase production efficiency and reduce cost, has achieved above target. The launch of operation of the new factory in Myanmar has also contributed to the good initial profit in this quarter. All these crucial factors have supported the overall profitable performance in the first nine months of 2020 (January-September).

The Company is ready to continuously take on the market in Q4. As the production expansion in Thailand and Myanmar has been completed, the company is more flexible and able to respond to the market needs in a more timely manner.

“The continuity in business operation and the creation of growth during the crisis are testaments to the strength of Osotspa and the efficient operation with the stress on speed and agility, as well as quality control of all products over time until we have gained the trust of the consumers. These factors are important to our ability to tackle the current situation and will become an important tool for Osotspa as we move confidently into the future,” Mr. Thana concluded.