SABINA’s 2022 Profit Grows 42%, Moving Forward for Expansion in Philippines

Bangkok – February 21, 2023: SABINA’s 2022 earnings ending December 31, 2022, reported an increase of both revenue and profit. The total revenue was at 3,185.7 million baht, increased from 2021 by 20.0% while the net profit was at 417.2 million baht, increased from 41.8% Y-o-Y. The net profit margin hit a record high at 13.1% from 12.5% in 2019, reflecting the company’s profitability.

The board also approved the dividend payment at 1.20 baht per share. Sales volume growth was from all distribution channels, particularly from retail channels after the ease of Covid-19, consumers living their normal lives, leading to an increase of offline shopping at check-in counters and Sabina Shops.

The company is confident that it will achieve record high revenue and profit in 2023 as targeted due to booming purchasing power from the beginning of the year while concerns over global recession are declining. The company prepares for oversea expansion through stock investment in “Moda” shares in the Philippines, creating business opportunity and growth.


Miss Duangdao Mahanavanont, Chief Executive Officer of Sabina Public Company Limited, manufacturer and distributor of lingerie brand “SABINA” disclosed that the company’s 2022 earnings reporting the total revenue of 3,185.7 million baht, increased by 20.0% from 2021 with the net profit of 417.2 million baht, or increased by 41.8%.

The significant increases came from sales volume of Sabina products from all channels, particularly, from the retail channel of which accounting for the highest ratio at 65% of the total revenue with sales volume reaching 2,062.6 million baht or 24.7% increase. On the other hand, the sales volume of the Non-Store Retailing (NSR) was at 752.2 million baht, or 11.0% increase while the sales volume from the OEM was at 353.0 million baht, or 18.0% increase.

“In 2022, the company had significantly grown after the ease of the Covid-19 pandemic and its growth can be seen from the top line – revenue from sales to the bottom line – net profit. While the sales volume from the retail channel, which is the main channel, was considerably increased, reflecting the consumers were returning to their normal lives again. The online channel was growing. The OEM has also received supports from ongoing orders from trading partners since the end of 2022 and the baht depreciation. Meanwhile, the efficient financial structure management, particularly extending cost control, had led to the record high net profit margin at 13.1% from 12.5% in 2019, reflecting strong profitability of the company. Also, the Gross Profit Margin in 2022 was at 48.0% ”, said Miss Duangdao.

With the satisfied earnings growth, the Board of Directors of the company had approved the dividend payment for the 2022 earnings at 1.20 per share. However, the company’s interim dividend payment was paid during the year at 0.61 baht per share, thus, the rest of the dividend payment to be paid at 0.59 baht per share of which the record date is scheduled on May 8, 2023, and the payment date is on May 19, 2023.

In addition, the Board of Directors approved Sabina International Co., Ltd., a subsidiary of SABINA to acquire shares of Moda SBN Co., Ltd., a retail business, and distributor of “SABINA” brand in the Philippines. The share acquisition is to serve the oversea expansion, creating business opportunity and growth in the future.


SABINA CEO added that the targeted 2023 growth was expected to grow by 10% from the previous year with the goal to overachieve its record high revenue and profit made in 2019, the period before the Covid-19 pandemic with confidence supported by the economic recovering and consumers’ unexpectedly rise of the purchasing power from the beginning of the year, while the concerns over global recession is declining.

In addition, during the period of the beginning of the year, SABINA had built a phenomenon through its campaign “Sabina Braless”, the talk of the town campaign collaborated with “Baifern – Pimchanok Leuwisetpaiboon”, as the presenter, as well as marketing plans using online ads and out-of-home media, attracting consumers and had become a viral. Such marketing strategy had brought out the outstanding feature of the product as being innovative and surprising product to the consumers.

“We were considerably successful with the SABINA Braless campaign due to the product creation under the theme of “comfortably wearing like no bra” with 3 innovations of lightness, softness, and coolness, completely responding customers’ need. The viral from billboard causing terrible traffic congestion in Bangkok and the presenter herself had drawn more customers to the product. There will be more SABINA’s campaign focusing deeply on customers’ requirements, including variety of innovative and creative products due to collaboration with partners of expertise in many areas. All of these are challenges waiting ahead in this year”, said SABINA CEO.