Thai Beverage is advancing with a goal for 2030 to achieve sustainability and become a leader in ASEAN. The total revenue for the nine months ending June 30, 2025, is 258.621 billion baht—remaining stable amidst slowing demand. However, EBITDA stands firm at 45.026 billion baht, down only 4% due to proactive brand investment aimed at supporting future growth rather than short-term sales. Thai Beverage's vision is driven by PASSION 2030: creating an engine for growth and sustainability simultaneously.

Mr. Thapana Sirivadhanabhakdi, CEO, discussed the direction of transformation for long-term growth.

This is achieved through the integration of F&N's business and operations, enhancing product portfolios, distribution networks, and cross-border capabilities. The company is moving forward with two main strategies:

- Reach Competitively (effectively reaching consumers with competitive costs)

- Digital for Growth (using digital to elevate growth and connect partners and consumers seamlessly) “We are strengthening our roots to be robust, agile, competitive, and sustainable.”

In the spirits sector, the company remains a leader and is promoting premium Thai products on the global stage, with revenue for the nine months at 92.778 billion baht. Although total sales volume decreased by 0.8%, profit direction improved in the latest quarter following investments in new brands and products, reinforcing its leadership in Thailand and Myanmar while elevating premium offerings.

Highlights include the launch of PRAKAAN, a Thai single malt whiskey that won the World Whiskies Awards 2025 (Category Winner: Single Malt, NAS), with plans to expand into the UK and several other countries. The innovation ZATO (Sato) RTD, featuring fragrant jasmine rice, has also won multiple international awards. In Myanmar, Grand Royal Whisky continues to hold the number one position, and the Chingu Soju line has expanded to five flavors.

Beer—Growing through Cost Discipline and Innovation

Revenue for the nine months reached 96.497 billion baht, with sales volume increasing by 4.8%, pushing EBITDA margin from 12.5% to 13.0% through portfolio management and enhancing Chang beer in Thailand, supporting Sabeco's leadership in Vietnam.

▪️ In Thailand, “Chang Beer” is executing six strategies, including portfolio management, distribution, operations, people, sustainability, and expanding into NARTD, while winning international awards such as the World Beer Championship 2025 and the British Bottlers’ Institute Awards 2025.

▪️ In Vietnam, despite facing regulations from Decree 100/168, the company maintains its number one position through four key pillars: reinforcing leadership, accelerating innovation (e.g., 333 Pilsner, Saigon Chill in 250 ml cans), enhancing operations (increasing Sabeco's shareholding to 65.9%), and driving ESG initiatives.

Non-Alcoholic Beverages—Strengthening Core Brands and Promoting Health

Revenue for the nine months reached 49.326 billion baht, with total sales volume increasing by 0.4%. EBITDA stood at 8.718 billion baht, driven by market investments and joint ventures, enhancing core brands, expanding Healthier Choice, and leveraging digital access.

Highlights include Oishi Green Tea with the campaign “Feel Good Every TEA,” promoting L-Theanine and crystal projects for environmental sustainability, as well as S Cola's Gen Z campaign and being a main sponsor for FIVB 2025. The company has also expanded its sales points to over 600,000 locations in Thailand and the Malaysia-Singapore network, along with the Sermsuk Click platform.

Food—Balancing Aggressive Growth for Better Experiences

Revenue for the nine months reached 16.563 billion baht, facing weak purchasing power and high costs. “We are implementing four strategies: expanding branches, driving organic growth, strengthening foundations, and embracing sustainability,” said Mr. Paisarn Aowsathaporn, emphasizing brand refreshment for Shabushi and enhancing efficiency through digital and integrated supply chains.

✨Sustainability—Upholding Thai Values, Moving Towards a Green Economy “Sustainability is the root of every dimension.” Thai Beverage aims for Net Zero (Scope 1–3) by 2050, with progress in Thailand (excluding F&N):

▪️ 97% of glass bottles are recycled

▪️ 74% of NARTD products carry the “healthier choice” label

▪️ Renewable energy accounts for 42.6% of total energy consumption

▪️ Reduced GHG emissions Scope 1–2 by 5.12% YoY, and reduced water usage per unit by 5.33%

Investments include 49 solar roof and floating solar projects (total capacity of 61.86 MWp), the 8th biogas plant, and the “packaging return” project on 9 islands, recovering over 2,500 tons. The company has also won the Best Sustainability-Linked Loan – Beverage (The Asset Triple A 2025), received SBTi certification for Net Zero by 2050, maintained its position on the DJSI World for the 8th consecutive year, and upgraded to an A rating in both Climate and Water from CDP.

✨People—Unlocking Human Potential to Drive PASSION 2030. Thai Beverage enhances Holistic People Development and IDP, connecting career paths with business goals, participating in global learning platforms, achieving an Employee Engagement rate of 86%, exceeding annual targets under the two driving forces of Reach Competitively & Digital for Growth.

The economy remains volatile, thus a stable strategy is “long-term discipline.” Thai Beverage is committed to the puzzle pieces from product portfolios, distribution, digital initiatives to sustainability and people, as all this power combines to create a brand that stands firm and has meaning for society, creating and sharing value from growth, proving to be “a stable and sustainable leader in ASEAN.”