Osotspa Public Company Limited (OSP) has demonstrated strong business performance in the first quarter of 2024, driven by growth in both its beverage and personal care product segments. Total revenue reached 7,260 million baht, marking a 10.9% year-on-year (YoY) increase and an 11.2% quarter-on-quarter (QoQ) increase. Net profit stood at 828 million baht, representing a 6.5% YoY increase and a 91.5% QoQ increase. Notably, normalized operating profit surged by 73.2% YoY and 39.9% QoQ, highlighting the company's superior competitiveness in both domestic and international markets. This strong performance was underpinned by efficient production management, which contributed to the expansion of gross profit margin. Osotspa further solidified its position as the market leader in energy drinks, with a market share of 46.4%, led by the strong performance of its "M-150" brand. Additionally, "C-vitt" maintained its leadership position in the functional drink market.
Ms. Ratiporn Ratcharoen, Group Chief Financial Officer of Osotspa Public Company Limited (OSP), announced that the company has delivered outstanding performance in the first quarter of this year, with significant growth in both revenue and profit compared to the same period last year and the previous quarter. This robust performance underscores Osotspa's strong business fundamentals, driven by a diversified product portfolio, robust distribution channels, and targeted marketing strategies. The domestic beverage business grew by 11.9% year-on-year, with the "M-150" brand maintaining its leading position in the energy drink market. Moreover, the company has been introducing innovative products to meet evolving consumer needs. The recent launch of M-150 Sparkling Energy Drink has successfully expanded the customer base to include millennials seeking refreshment during their daily activities. Through unique marketing campaigns, the product has generated significant buzz on social media.
The "C-vitt" brand, a leader in the functional drink and vitamin C-infused beverage market, has continued to deliver strong quarterly performance. Its market share has increased to 42.9%. Additionally, the "Peptein" and "Calpis Lacto" brands have shown remarkable growth. The personal care product segment also saw an 8.7% increase, driven by the strong performance of the "Baby Mild" brand, which is a market leader in both baby bath soap and baby powder. In the international market, Osotspa has maintained its leadership position in the energy drink category, with sales growing by 23.1% in the first quarter of 2024, marking its strongest performance in five years. This growth was fueled by proactive management, strong marketing efforts in Myanmar and Laos, and the brand's strong consumer acceptance, despite challenging external factors.
For the second quarter, the company will continue to drive growth and maintain its market leadership in energy drinks by increasing market share. “M-150” will collaborate with strong partners, including Workpoint, to support Thais in debt relief through the "Plod Nee Dai Tuk Wan Muen Saen Lan" campaign. Additionally, a partnership with Garena Thailand will support the popular mobile game RoV. The company will also leverage the popularity of Korean duo "Jung-Cullen" as brand ambassadors for the M-150 Sparkling Energy Drink, and launch the "#MaiMeeLimitCheewitKodZing" campaign to capitalize on the summer season. Furthermore, the “Baby Mild” brand will introduce new innovative products, such as Baby Mild Relaxing Lavender Organic, to cater to the needs of mothers, children, and working adults.
Ms. Wannipa Bhakdibutr, CEO of Osotspa, reported that the company has successfully achieved its long-term growth objectives in the past quarter. This was accomplished through a combination of core business expansion, divestment of non-core assets, international expansion, and operational efficiency improvements. The company’s strong performance in the first quarter is a testament to its commitment to sustainability, as evidenced by its recognition as an ‘Industry Mover’ in the S&P Global Sustainability Yearbook 2024.
Osotspa is dedicated to delivering sustainable growth and creating long-term value for shareholders.
