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Osotspa’s 2023 performance Delivers THB 2,402M Net Profit, Achieving 24% Robust Growth and Boosted Gross Profit Margin with Premiumization Strategy

Osotspa revealed its 2023 performance, achieving 2,402 million baht as its premiumization strategy yielded 24% robust growth, accompanied by a continued increase in gross profit margin every quarter. In this regard, the Company announced its annual dividend payment at 1.65 baht per share, setting the goal to continuously generate growth for incomes and profits.

Osotspa Public Company Limited revealed its 2023 performance, delivering 26,062 million baht annual sales with 2,402 million baht net profits. This marks a remarkable 24% growth compared to last year. These outstanding results are attributed to the success of Osotspa’s premiumization strategy. This success is further enhanced by the sturdy growth of its international business and constant manufacturing efficiency and cost management improvement, as reflected by the continuous gross profit margin expansion throughout the year. The Company has also reaffirmed its leading position with the “M-150” brand remaining the No. 1 energy drink market leader, experiencing rising domestic sales every quarter. Moreover, the “C-vitt” brand has secured a stronghold in the No. 1 position in the functional and vitamin-C drink markets. Osotspa will strive for business reorganization to enhance operation efficiency and facilitate comprehensive long-term growth. Consequently, the company has declared an annual dividend of 1.65 baht per share with the remaining 0.45 baht pending for the second half of the year's payment. Osotspa aims to sustain and increase its income and profits while working towards its sustainability goals in the current year.

Mrs. Wannipa Bhakdibutr, Chief Executive Officer of Osotspa PCL., Thailand's leading consumer goods manufacturer and distributor, revealed that the company achieved a revenue of 26,062 million baht. The growth of domestic energy drinks has been consistent every quarter, attributed to the premiumization strategy along with a unique marketing communication initiative known as the “M-150 Superstar Project,” and bolstered by the remarkable growth of the “Lipo” brand this year. This success has also contributed to establishing the “M-150” brand as a continual market leader. Regarding the functional drink segment, which has been enhanced by innovative benefits and utilizes effective communication channels for its target audience, the “Peptine” and “Calpis Lacto” brands have not only expanded their market shares but have also achieved double-digit growth in revenues. Additionally, the “C-vitt” brand has been firmly leading the vitamin-c-infused drink market. As for the international beverage products, the Company delivered robust double-digit growth in Myanmar and Laos. Moreover, Osotspa's personal care products have shown remarkable growth, particularly in the deodorant category for both the “Twelve Plus” and “Exit” brands. Notably, “Twelve Plus” currently holds the second-leading position in the market. Meanwhile, the “Babi Mild” brand, a leading baby body wash and baby powder product brand, has launched “The Power of Gentle Touch” campaign after the brand recently modified its formula, making it 100% organic, and transitioned to safe and eco-friendly packaging. These efforts also contributed to Osotspa being recognized by the SET ESG Ratings at the AA level and receiving a 5-star rating on the Corporate Governance Report (CGR) 2023. These achievements have greatly heightened Osotspa’s commitment to integrating sustainability practices into its business operations, driving Osotspa towards sustainable growth.

As of 2023, Osotspa delivered a net profit of 2,402 million baht, reflecting a 24% increase from the previous year. The core profit from its business operation, excluding extraordinary items related to strategic business restructuring activities and dividend payments, stood at 2,181 million baht, marking a 14% increase from the previous year. These results reflected Osotspa’s successful management in enhancing operational efficiency, driving its gross profit margin to 34.5% — a 3.9% increase from the previous year. In the fourth quarter of 2023, it reached a new high at 35.5%, demonstrating steady profit growth throughout every quarter.

Therefore, on February 28th, 2024, the Board of Directors of Osotspa announced a dividend payment for the 2023 operation at 1.65 Baht per share, totaling 4,956 million Baht. This is equivalent to a dividend payout ratio of 206%. The total dividend includes a special dividend payment of 0.80 baht per share, an interim dividend of 0.40 Baht per share, and a final dividend of 0.45 baht per share. The list of people eligible for the dividend payment will be further announced on May 3rd, 2024, and the payment will be processed on the 23rd of May 2024. The payment will be proposed during the upcoming Annual General Meeting in 2024. This calculates to a dividend yield of 7.9 percent, calculated from the share price as of January 31st, 2024.

As for the 2024 business direction, Osotspa is committed to continued growth through its strategic plan, overcoming challenges through relentless improvement and business reorganization. The key drivers are its consumer-centric innovations as the Company takes pride in enhancing consumers’ health and well-being. Moreover, Osotspa will focus on optimizing operational efficiency, adopting new technologies, and striving for sustainability development across all dimensions—environment, social, and governance (ESG), as the company has set its goal to achieve Carbon Neutrality by 2050. Furthermore, Osotspa aims to execute its strategic plan for inorganic growth, strengthening business operational efficiency, driving sustainable operating results, generating long-term returns for shareholders, and ultimately working towards the goal of being the power for sustainable life for all stakeholders.

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