OSP Reports 24% Profit Growth in 2023, Offering THB0.45 Dividend Payment

Osotspa Public Company Limited (SET: OSP) has announced its 2023 consolidated financial statement through the Stock Exchange of Thailand as follows;

Year 2023 2022
Net Profit (Loss)

Million Baht

2,402.10 1,933.77
Earning Per Share


0.8000 0.6400
% Change 24.22


OSP reported a net profit of THB 2,402 million, increased by 24.2% YoY, with a net profit margin of 9.2%, expanded by 210 bps YoY. This mainly accounted for dividend received from investment in other companies, one-time items from business restructuring activities, and one-time expenses from the cessation of operations of the glass bottle factory in Samut Prakan.

The core businesses showed improving performance through the recovery of energy drinks and impressive double-digit growth from international business offset by the decline in OEM sales. As a result, 2023 revenues from sales, excluding C-Vitt due to rebase of vitamin C drinks post COVID-19 impact, grew 1.5% YoY

Though, the total revenues from sales of the company was at THB 26,062 million, declined by 4.4% YoY, the company made impressive progress on gross profit margin throughout the year 2023 with gross profit margin for FY2023 expanded 390 bps YoY to 34.5% and reached a peak in 4Q23 at 35.5%. The key drivers include the premiumization strategy and increased glass production efficiency after shutting some furnaces to achieve higher yield and lower energy consumption.

In addition, OSP announced a dividend payment of THB 0.45 per share to be paid on 23 May 2024. The ex-dividend date is 2 May 2024.