OSP Reports a 4% Increase in 1Q Profit after Booking Higher Revenue from Sales
OSP Reports a 4% Increase in 1Q Profit after Booking Higher Revenue from Sales.
OSP Reports a 4% Increase in 1Q Profit after Booking Higher Revenue from Sales.
13 พ.ค. 2563

Osotspa Public Company Limited (OSP) has reported its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

OSP reported a net profit of 925 million baht, increased 4.24% when compared to a net profit of 888 million baht in 1Q19 from the growth in all major segments together with gross margin expansion.
1Q20 revenue from sales grew by 5.0% YoY, amounting to THB 6.7 billion, driven by the growth in all major segments particularly functional drinks (+26.2YoY). Domestic beverages continued showing strong growth at 4.6% YoY from both energy drinks and functional drinks. Speed-up health and hygiene innovations made a turnaround of domestic personal care in March, resulting in overall 1Q20growth at0.8% YoY. Overall international business grew 4.8% YoY at constant FX.
The 1Q20 functional drinks market maintained double-digit growth momentum of 16.1%YoY, driven by C-Vitt, a strong No. 1 brand in the category, whose market share successfully booked a new record high of 31.3% (+580 bps YoY). OSP anticipated a stronger C-Vitt growth in 2H20 after commissioning of OSP’s new beverage manufacturing lines.
The 1Q20 Energy drinks market grew at 0.6% YoY, where OSP recorded the market share at 54.0%, aligned with our mid term strategy. M-150gained market share by +110bps YoY and +80bps QoQ, to be at 38.3% in 1Q20, where consumers chose to stay with the trusted brand.
The 1Q20 gross margin expanded to 35.4% (+60 bps YoY and +40 bps QoQ), due to robust Fit Fast Firm project (OSP’s cost saving program), which continued to drive further margin improvement through product formulation optimization, lower key raw material prices, higher supply chain efficiency.