ICHI celebrates the continued success of its Q3 / 2020 performance, with profit of 122.9 million Baht, increased 69.3% and revenue of 1,222.1 million Baht, or +7.6% from the expansion of healthy drinks to supplement the portfolio and respond to new consumer behavior. The long-term trend of healthy drinks will make Ichitan grow with no low season while Indonesia market segment realized on going profit which supported the first 9 months performance at 431.5 million baht, or 33.3% growth. The trend is on the bright side after the company was added to the latest MSCI GLOBAL SMALL CAP INDEX which will be effective November 30, 2020.

Mr. Tan Passakornnatee, President & CEO of Ichitan Group Public Company Limited or ICHI disclosed the operating results for quarter 3/2020. Net profit was 122.9 million baht, a growth of 69.3%, sales income 1,222.1 million baht, increased 7.6%, gross profit margin 19.7%, and net profit margin 10.1%. This is the result of following the strategy set forth to penetrate green tea and healthy drinks continuously with Shizuoka green tea ranking number one in the premium green tea category, coupled with market expansion with the launch of new products, including Ichitan alkaline PH Plus 8.5 with B complex, Ichitan Vitamin Water C Plus E and Ichitan Vitt CC which supported the growing port of Ichitan healthy drinks in line with the growth of healthy drinks market expected to grow at a rate of at least 30% per year. In addition, the internal management has focused on products with good profit and growth potential along with production cost control and more highlighted products of 10 Baht to expand traditional trade market.

For the first 9 months of 2020 Ichitan business turnover has a net profit of 431.5 Million Baht with 33.3% growth, sales revenue of 3,877.6 Million Baht, gross profit margin of 20.3% and net profit margin of 11.1%.

“The impressive 3Q/2020 turnover reflected our market and new product expansion plan that resulted in no longer low season for Ichitan since the healthy drinks now fulfill the portfolio in addition to the good sale in summer and the consumer lifestyles with increasing focus on healthcare drinks.

With the strength our manufacturing that supports variety of beverage production has increased competitiveness and profitability, this year will be the year that Ichitan can grow as planned. The main growth will be in profit and this is a starting point to gain more market share in the healthy drinks market" said Mr. Tan.

It is forecasted that overall business at the end of the year will benefit from the government stimulus package to encourage consumers to spend more on products and beverages. In addition, Ichitan continues its brand building through engagement campaign targeting on specific interests, such as joining hands with True 5G to launch a "Blissfulness with each Cap of Smart Tea" campaign at the end of the year and "Yen Yen Limited Collection Dragon Ball Z" with up to 42 packaging designs for collection in collaboration with a legendary alliance like "Dragon Ball Z", the popular cartoon with worldwide fan base ranging from the 90s generation to millennials and Gen Z which increased liveliness of refrigerated showcase and frequency of customer selection and continuingly reinforced the market share leader position throughout the year. As well, the launch of new health-centric products to align with the trend; i.e. Ichitan alkaline PH Plus 8.5 with B complex which was launched in the second quarter of 2020 and gained high popularity and rapid sales growth and Ichitan Vitamin Water C Plus E and Ichitan Vitt CC, high vitamin C beverages launched at the end of the third quarter will definitely receive a good response as another New S Curve for business

Recently, MSCI (Morgan Stanley Capital International) announced the addition of ICHI to the latest MSCI GLOBAL SMALL CAP INDEX effective November 30, 2020 will have a positive effect on the increase of investment from both local and foreign institutional investors and reinforce the confidence in ICHI management team that strategically increases the proportion of market expansion into the beverage market to penetrate the health-conscious trend reflecting the successful operating results of the first 9 months of 2020 and market expansion plans focusing on profit growth.