Berli Jucker Public Company Limited (SET: BJC) reported its 1Q26 financial results, showcasing a resilient operating performance despite a challenging macroeconomic environment and weak non-food consumption.
The company’s consolidated total revenue reached THB 41,936 million, a modest increase of 0.8% compared to 1Q25. However, consolidated sales and service revenue experienced a slight decline of 0.8% year-on-year (YoY) to THB 38,191 million, primarily weighed down by the Modern Retail and Consumer Supply Chains.
The bottom line was impacted by non-recurring items, with net profit falling 3.1% YoY to THB 1,057 million. This decrease was largely attributed to one-time expenses related to store restructuring, including an impairment charge of THB 123 million. Despite this, BJC successfully expanded its gross profit margin by 42 basis points to 20.8%, driven by product mix optimization, premiumization strategies, and enhanced manufacturing efficiencies.
A significant boost to the quarter’s results came from other income, which surged 17.1% YoY to THB 3,640 million. This was primarily driven by a one-time gain from a “bargain purchase” related to the acquisition of an overseas glass packaging business at a price below fair value. Total expenses for the period rose by 1.1% to THB 40,308 million, reflecting the costs of this acquisition and the aforementioned store restructuring.
Segmental performance highlighted the strength of BJC’s diversified portfolio. The Packaging Supply Chain was a top performer, with sales growing 14.5% YoY to THB 6,527 million, fueled by customer base expansion in aluminum cans and the consolidation of overseas glass businesses in Malaysia and Vietnam. Conversely, the Modern Retail Supply Chain saw total revenues slip 3.6% YoY to THB 27,521 million, as same-store-sales growth turned negative at -3.3% due to fragile consumer purchasing power in the non-food segment. Despite these headwinds, BJC’s disciplined cost management continues to support its overall earnings stability.
