Dear Shareholders,
Thai Beverage Public Company Limited (“ThaiBev” or the “Group”) proved to be resilient and remained strong in 2020, as we managed the challenges that were brought about by the COVID-19 pandemic. The Group adapted to changes in the operating environment and shifts in consumer preferences while taking care of its employees, business partners, customers as well as society and collaborating with stakeholders to overcome the difficulties posed by the pandemic.
Changes in consumer behavior and distribution channels prompted us to execute several strategic initiatives. We digitalized our operations to increase efficiency and productivity, enabling us to provide uninterrupted deliveries of ThaiBev’s products to meet consumer demand. We implemented cost-control measures to ensure our financial performance. Adjustments have been made to align our marketing campaigns with the situation on the ground. As a result, ThaiBev was able to deliver a creditable performance in FY2020. The Group generated sales revenue of Baht 253,481 million, net profit of Baht 26,065 million and profit attributable to owners of the Company amounting to Baht 22,752 million. We have also maintained our dividend payment policy and the Board of Directors has proposed a total dividend payout of Baht 11,553 million for FY2020 which translates into a payout ratio of 51% of attributable profit, or Baht 0.46 per share.
I would like to thank ThaiBev’s Board of Directors, executives, and employees for their tireless efforts in navigating the Group through this difficult time and seizing this opportunity to transform the Group to be stronger than ever. I believe that we will get through this trying period if we pour our hearts into one. We will continue to steer ThaiBev to become a truly stable and sustainable regional beverage company that operates with transparency, good governance and responsibility towards society and the environment.
On behalf of the Board of Directors and executives, I would like to express our gratitude to ThaiBev’s shareholders, customers and business partners. We are encouraged by your trust and confidence in the Group’s potentials throughout the years, and we look forward to your continued support in the years to come.
Charoen Sirivadhanabhakdi
Chairman of the Board of Directors