#CBG #Na Hoon – CBG promises phase 3 of the sweets tax, without affecting profits Although the cost increased by 0.03 baht per bottle, sales growth was still good. Benefit from the peak summer season. Recently, a joint venture with MENA established a company to provide delivery services, CJ MWY stores – and standard discount stores. Broke’s side looks at the strategy to maintain sales prices to support growth. While overseas sales soar Recommend buy timing with a target of 112 baht
Mr revealed Romtham Setthasit, Deputy Managing Director of Carabao Group Public Company Limited or CBG, in the case that the Cabinet (Cabinet) is preparing to collect Phase 3 of the sweetness tax, which will start collecting between April 1, 2023 and March 31. , 2025. Evaluate that it will not affect the overall picture of the company. By affecting the cost of about 0.20 baht per 6.5 bottles, or about 0.03 baht per bottle, which does not significantly affect the company. by still maintaining a good margin level In addition, now is the high business season during March which is the summer season. which will make drinks sales grow better and maintain the selling price compared to competitors giving an opportunity to increase market share
In addition, the company is also preparing to release new products. which continues to develop and continuously research to build on the growth also, confidently, in 2023, it is believed that total sales will grow by at least 20% from 2022, which will come from non-alcoholic drinks ( Non-alcoholic) and alcohol (alcoholic), while export sales have improved well Especially in China where sales have improved greatly after the opening of the country. Including a joint venture with MENA to improve the delivery and delivery service of consumer goods for CJ MORE stores, which is a new type of retail store. and the shop is cheap and has standards
* Offensive transport MENA Seal
Mrs revealed Suwanna Kajornwutidej, CEO of Mena Transport Public Company Limited or MENA, that the collaboration with Tawandang Logistics Co., Ltd. (TWD), which is a major partner, has been extremely successful. At this time, the registration of a joint venture company, TDM Logistics Co, Ltd (TDM), has been completed and is ready to provide transportation and distribution services for consumer products. and other freight services Nationwide, TDM is expected to start providing services within the second quarter of 2023 onwards.
TDM is ready to continue providing transportation and distribution services of consumer goods to CJ MORE stores, a new retail format. and the store is cheap and has standards Currently, there are more than 1,000 branches in service in 42 provinces (data as of February 25, 2023) and there is a project to expand branches to cover all provinces in Thailand. When it comes to cheap stores, having standards will help raise the level of grocery stores across the country to be more competitive.
The aim is to expand thousands of branches in 2023 as CJ MORE and Cheap Dee have a plan to expand branches across the country. Therefore, the cargo is transported regularly throughout the year. as well as an opportunity to expand the freight service to also be associated with partners Supporting opportunities and significant growth
*increase market share
UOB Kay Hian Securities (Thailand) Public Company Limited CBG said that the overview of international business I think I will see better improvements. Both in China which is fully opening the country, in Cambodia, sales are expected to recover in the second quarter of 2023 and Myanmar which is expected to recover in the second half of 2023 after the factory is completed. In addition, another key driver will come from strong sales growth in Vietnam. After the company fully enters the market in 2023
In addition, CBG is aiming for high growth in 2023. The company is targeting total sales growth of 15-20%, driven by Energy Drinks sales in Thailand, where the company will still use price strategy of 10 baht 3-5% in 2023, together with foreign sales that will pour in From both the same countries that will start to improve, such as China, Cambodia, including Vietnam from new distributors
Although the margin is expected to increase to 37% (only for Own Branding groups), which will see a continued recovery from the previous quarter from the 1st quarter of 2023 from positive results 1. Reduced Aluminum Coil Costs 2. Economy of Scale increase in accordance with the increase in production volume of reaching the target market share Target price of 112 baht.
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