Haadthip Public Company Limited (HTC), the exclusive bottling partner of The Coca-Cola Company for the 14 Southern provinces of Thailand, announces its financial results for the full year of 2023. Demonstrating robust growth, HTC achieved a total revenue of 7,806 million baht, marking the highest figure in the past five years and representing a significant 13.6% growth compared to 2022. The net profit for the year reached 598 million baht, reflecting a remarkable 38.8% increase from the previous year. For 2024, HTC anticipates a 6-8% growth in sales revenue and plans to inject 800 million baht into a new production line for glass bottle products. This investment aligns with its overarching goal of achieving a total sales revenue of 15 billion baht by 2032.

At the press conference held on March 5, 2024, at the Hyatt Regency Bangkok, Major General Patchara Rattakul, CEO of HTC, emphasized the company's exceptional performance in 2023. He pointed to the rapid recovery of Thailand's tourism sector, particularly in the Southern provinces, surpassing other regions. Furthermore, HTC implemented price adjustments in August 2022 and April 2023, resulting in an average retail price increase of 6% and 1.5%, respectively.

“HTC continued its growth trajectory in 2023 and this was largely fueled by the tourism boom in Southern Thailand. According to the Ministry of Tourism and Sports, Thailand received as many as 28 million foreign tourists in 2023 which represents a growth of 154% from 2022. In addition, the Bank of Thailand’s statistics on hotel occupancy also suggest that the Southern region had received more tourists than the other regions did. This prompted our decision to focus on the right pack sizes and channel strategies as tourists’ spending tend to concentrate more in hotels, restaurants, food shops and convenience stores. Additionally, we also made a slight price increase and drove better manufacturing efficiency. This helped lift our net profit up by as much as 38.8%,” Major General Patchara said.

Looking ahead to 2024, HTC anticipates continued growth at a rate of approximately 6-8%, supported by the promising tourism outlook in the South. The company plans to introduce new products tailored to the preferences of Thai consumers. Additionally, HTC sees significant opportunities in expanding its zero-sugar beverage segment, which witnessed a remarkable 31% growth in 2023 and currently accounts for only 3% of HTC’s total sales revenue. To bolster its manufacturing capabilities and cater to growing demand, HTC will also invest 800 million baht to add a new production line for glass bottle products at its facility in Poon Pin district, Surat Thani province. This strategic investment is slated for completion by the fourth quarter of 2024 and aligns with HTC's commitment to sustainability and operational excellence.

“We recognize the immense potential in the glass bottle business, particularly in the hospitality and food service sectors, where on-premise consumption is prevalent. It is also an area where we have higher competitive advantage against our competition. Besides, we believe glass bottles will allow us to manage packaging material costs better and reduce our use of plastic packaging which is critical to accomplishing our sustainability commitments,” Major General Patchara added.

In the long term, HTC aims to solidify its market leadership in the 14 Southern provinces, targeting 15 billion baht in sales and a 35% market share of non-alcoholic ready-to-drink beverages by 2032.