'Osotspa Public Company Limited (OSP)' reveals its operating results for the third quarter of 2023, with total sales of 6,277 million baht, a 2% increase, and a net profit of 642 million baht, a 163% increase from that of last year. This demonstrates a gradual quarterly growth in domestic beverage sales, with ‘M-150’ and ‘C-vitt’ leading the energy drink and vitamin C beverage markets. Meanwhile, the gross profit margin has improved from that of the previous year and previous quarter, resulting from the downward trend of commodity and energy costs, along with continued manufacturing efficiency improvements. In addition, the company received a 300 million bath dividend payment from investment and a special payment from overall business restructuring to align with the long-term growth strategy. As a result, the company yields a total profit of 1,969 million baht and reaffirms its confidence in achieving the target profit this year.
Mrs. Wannipa Bhakdhibutr, Chief Executive Officer of Osotspa Public Company Limited, or OSP, Thailand's leading manufacturer and distributor of consumer products, disclosed that the company gained total sales of 6,277 million baht, which increased by 2% from the same period last year. This success is due to the continued growth of energy drinks even during the low-season period, with the ‘M-150’ brand leading the market. This puts a great emphasis on the brand’s successful brand portfolio strategy that serves the diverse needs of consumers, along with its constant, powerful marketing campaigns. Supported by the remarkable growth of the ‘Lipo’ brand as well as ‘C-vitt,’ the brands securely maintain a leading position in their markets, with a continued increase in market shares and incomes from the previous quarter. In addition, both ‘Peptein’ and ‘Calpis Lacto’ have achieved remarkable success in introducing new products and marketing, resulting in double-digit sales within the first nine months of the year. This has significantly strengthened Osotspa's non-vitamin C functional drink portfolio.
The personal care product line has successfully driven the company’s growth both domestically and internationally after developing and introducing innovations together with launching promotional activities that have been well received by consumers. This is highlighted by the ‘BabiMild’ brand leading the baby bath soap product group. Meanwhile, deodorant products under the 'Twelve Plus' brand rose to the second position in market share and achieved double-digit growth in the first nine months of this year.
As for the net profit in the third quarter of 2023, the company achieved 642 million baht, reflecting a 17% increase from the previous quarter and a 168% increase compared to the same period in 2022. This resulted from remarkable sales growth, efficiency improvement, and impactful sales and marketing cost management. Driven by the decline in energy and commodity costs, the gross profit margin was recorded at 35.4% this quarter, an increase from the previous quarter and the same period of last year. Moreover, the Company received a 300-million-baht dividend payment from investment and a special payment from the overall business restructuring, yielding a total profit of 1,969 million baht in the first nine months of 2023.
In the last quarter of 2023, Osotspa anticipates sustained growth driven by impactful marketing strategies and a diverse brand portfolio encompassing energy drinks, functional beverages, and personal care products. This momentum will be further fueled by its robust product distribution network, aligning with the market opportunities presented as consumer spending is expected to improve. Osotspa will continue to strive for efficient production and cost management to achieve its goals.
