OSP’s Earnings Slow Down in 2021 as a Result of Impact from Pandemic Lockdowns

Osotspa Public Company Limited (SET: OSP) has announced its 2021 consolidated financial statement as follows;

Yearly 2021 2020
Net Profit (Loss)
Million Baht
3,254.920 3,504.313
Earning Per Share (Baht)5 1.08 1.17
% Change -7.1

 

OSP reported 2021 net profit of THB3,255 million, decreased 7.1% YoY, with net profit margin of 12.2%, -150 bps YoY, mainly due to the impact from pandemic lockdowns in 3Q21, commodity price increase, and depreciation of the Myanmar Kyat (MMK). As the COVID-19 restrictions eased and the market resumed its growth after COVID-19 lockdowns, 4Q21 net profit was at THB 851 million, grew +46.7% QoQ from double digit growth in all reported segments both domestic and international businesses.

Furthermore, OSP scored another all-time-high revenues from sales of THB26,762 million, +4.6% YoY in 2021 amid the relapse in economic growth and market decline in all key segments largely from pandemic widespread lockdowns. 4Q21 revenues from sales increased +8.9% YoY and +13.6% QoQ, reflecting its resilient operations after economic activities revived from the relaxation of stringent containment measures and a high vaccination rate. Domestic beverage sales grew double digits in 4Q21.