Mr. Suthidej Thakolsri, Chief Executive Officer of NEO Corporate Public Company Limited (NEO), stated: "Our Q2/26 results represent another outstanding achievement for NEO, with total revenue growing over 18% YoY, driving net profit up 161.3% YoY and 120.0% QoQ to reach THB 209 million. This success stems from precise proactive execution and targeted manufacturing cost controls. Despite global and regional economic challenges—including geopolitical conflicts, fluctuating commodity prices, and cautious consumer spending—NEO's core strength in delivering value for money enabled us to maintain strong brand loyalty and expand market share across every category."
Double-Digit Revenue Growth, Net Profit More Than Doubles
NEO delivered robust, well-rounded performance in Q2/26, recording its highest quarterly revenue to date at THB 3,050 million, up 18.0% YoY. Key domestic growth drivers included government economic stimulus measures and strong market reception to new products launched in Q1/26 . Overseas markets—particularly Vietnam—achieved exceptional growth through an aggressive online channel strategy.
Sales performance across key product categories grew significantly YoY:
- Household Products: Grew 22.9% YoY, with strong expansion across all brands, led by Fineline in fabric softener and liquid detergent.
- Personal Care Products: Grew 22.3% YoY, primarily driven by BeNice in shower cream and moisturizer, along with new shower cream line extensions for young adults under the D-nee brand that effectively expanded the customer base.
- Baby & Kids Products: Rebounded into positive growth at 6.1% YoY, marking a sharp turnaround of 24.4% QoQ. This growth was driven by D-nee shower creams and body lotions, alongside rising sales in Vietnam. Additionally, D-nee Deluxe, tailored for the silver age demographic, generated growth across all product lines.
NEO maintained its gross profit margin within its revised full-year target of 37%-39%. Net profit surged 161.3% YoY, propelled by strong top-line sales growth combined with effective manufacturing cost controls and efficient Selling, General, and Administrative (SG&A) expense management.
Gaining Market Share Across All Product Categories
NEO reinforced its FMCG leadership by expanding market share across every product category over the first six months of 2026, reflecting strong consumer trust in value-for-money, high-quality offerings:
- Shower Cream: Grew 18% YoY (outperforming total market growth of 10%), increasing market share to 25.6% and securing the #1 market position over the six-month period.
- Liquid Detergent: Grew 34% YoY (outperforming total market growth of 20%), bringing market share to 30.9%, maintaining #2 position while significantly narrowing the gap with the market leader.
- Fabric Softener: Grew 23% YoY (highest growth among the top five fabric softener leaders in Thailand), expanding market share to 13.3% and holding #4 position, with strong potential for further expansion.
- Moisturizer: Delivered outstanding growth of 25% YoY (defying a 3% market contraction), driven by expanding target demographics to include both young adults and silver-age consumers.
Growth Strategy: Leveraging Q2 Milestones for H2 Acceleration
NEO's Q2 growth momentum was driven by key strategic pillars:
- Proactive Risk & Cost Management: NEO flexibly restructured production cost management to navigate international political conflicts by sourcing alternative raw material suppliers and strategically pacing New Product Development (NPD). In Q2, NEO launched 46 SKUs, adjusted from an initial plan of over 100 SKUs, to maximize marketing and promotional spend efficiency.
- Capacity Expansion: Early investments in factory expansion, machinery installation, and new facility preparation enabled NEO to fulfill growing domestic and international orders promptly. Looking ahead, Phase 1 of the new Household factory will begin full operations in Q4, boosting production capacity and supporting long-term business growth.
- Portfolio & Segment Expansion: NEO successfully leveraged existing brands into new market segments, such as extending Tomi into drain cleaners and glass cleaners, alongside the premium D-nee Deluxe range expanding its customer base in the silver age segment. In the second half of the year, NEO will continue developing innovations aligned with wellness & longevity trends, aiming for over 200 new SKUs launched throughout the year.
- Expanding Overseas Markets with Social Commerce: NEO maintained strong momentum in international markets, particularly Vietnam, via E-Commerce, Live Streaming, and Key Opinion Leaders (KOLs). In the second half of the year, NEO plans to build on this success by introducing the BeNice brand to the Vietnamese market to further expand its regional Personal Care footprint.
Upgrading Full-Year 2026 Sales Target to Double-Digit Growth
"Looking ahead to the second half of 2026, despite ongoing economic uncertainties and fluctuating consumer purchasing power, NEO has prepared well in advance to capture new opportunities and drive long-term growth. This includes strengthening our supply chain, investing in new facilities, expanding into Premium & Wellness portfolios, and capitalizing on the upcoming high season in H2. Consequently, the Company has upgraded its full-year sales growth target from 6%-8% to double-digit growth for this year," Mr. Suthidej concluded.
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