ICHI's Latest Product Lineup for High Season Set to Drive Q1 Sales, Paving the Way to Achieve 7,300 Million THB with 15% Growth

Tuesday 14 March 2023 11:18
In 2023, Ichitan PCL (ICHI) aims to achieve a target revenue of 7,300 million THB, representing a 15% growth. The company plans to introduce several new products, including "Tansansu Soju Melon Ice Cream", "Ichitan Alkaline Water Plus CBD" and "Shizuoka Premium Tea Genmaicha with Matcha" which provide delicious refreshment with a 0% sugar trend. Align with CEO Tan Passakornnatee, who emphasizes that health products are still rising. At the same time, ICHI's OEM business has closed deals with 2 significant brands, IF and Coco Season, which are the major players in exporting coconut water drinks to China. These initiatives are intended to support revenue growth and improve capacity utilization.
ICHI's Latest Product Lineup for High Season Set to Drive Q1 Sales, Paving the Way to Achieve 7,300 Million THB with 15% Growth

The CEO of Ichitan Group PCL., Mr. Tan Passakornnatee, has stated that the company aims to achieve a 15% increase in total revenue in 2023, reaching 7,300 million THB. In addition, the company has set targets of increasing the gross profit margin by over 20% and the factory utilization rate by more than 70%. ICHI has adopted a product development strategy that exceeds customer expectations to achieve these goals. This includes investing heavily in research and development to create new products such as health and carbonated drinks (CSD) while prioritizing effective cost management to boost production capacity.

Ichitan Group is preparing to launch new products for its high season this summer, led by Tansansu; Korean soda features Mark Tuan-GOT7, a Korean-international presenter, after receiving an overwhelming response. As part of the 500 million THB sales goal, a new flavor called "Soju Melon Ice Cream" is preparing to be launched. In addition, Shizuoka premium tea is introducing a unique flavor, "Shizuoka Genmaicha Mixed Matcha," featuring a favorite Thai MMA boxer "Kota Miura," which combines roasted rice tea with high-quality matcha, low caffeine; drink as often as you like. PH Plus launched "Ichitan Alkaline Water Plus CBD," which combines the value of alkaline water that promotes balance in the body with CBD, the extract of hemp benefits to meet the demands of a new generation that cares about their health.

As for an international market, Ichitan has been successful in Indonesia and projects to increase profit by 90 million THB, compared to the previous gain of 82.2 million THB, out of a total profit of 164.4 million THB. At the same time, the export business is expected to grow by 5% up due to ongoing marketing campaigns in CLMV countries and market expansion in the Middle East. In addition, Ichitan's OEM service has closed deals with 2 major brands, IF and Coco Season beverages, and has started production in Q1/2023. More sales are in negotiations with several other companies.

Ichitan's performance for 2022 shows an increase of 21.3% in total revenue of 6,340.4 million THB and a 17.3% increase in net profit of 641.6 million THB. The dividend payment for 2022, to be made from net profit and retained earnings, has been approved at a rate of 0.60 baht per share (XD on May 9, 2023). Dividend payment is scheduled for May 24, 2023 but must wait for approval from the Annual General Meeting of Shareholders on April 27, 2023.

Source: IR PLUS