Ichitan Group Public Company Limited (SET: ICHI) reported Q1/2025 results with sales of 1,745.7 million baht and net profit of 245.2 million baht, maintaining a solid gross profit margin of 23.6%. According to Mr. Tan Passakornnatee, the company is set to aggressively pursue market opportunities in Q2/2025 through a diverse range of innovative product launches aimed at boosting both domestic and international sales, while also expanding its OEM business operations.
Mr. Tan Passakornnatee, CEO of Ichitan Group, explained that despite challenging market conditions in Q1/2025, the company maintained stable sales and profit levels through effective cost management and strategic new product introductions across both Green Tea and Non-Tea segments. “Ichitan Chrysanthemum Green Tea,” featuring popular presenters “Ling-Orm,” emerged as a standout success, becoming a best-selling product that significantly enhanced brand positioning. Additionally, the “Yen Yen” brand gained exceptional visibility through its viral appearance on the CHUANG ASIA program, generating over 250 million views.
The Q2/2025 outlook appears promising with expected growth driven by favorable seasonal factors including hot weather and the Songkran festival stimulating beverage consumption. The company has implemented comprehensive marketing initiatives such as the successful “Tansansu Korean Soda” event at Chiang Mai Songkran, effectively building product awareness among younger consumers. New product innovations include “Ichitan Tea Play,” a next-generation green tea offering enhanced energy and refreshment, supported by an upcoming campaign featuring T-Pop artist group PERSES. Meanwhile, “Shizuoka Jasmine Green Tea No Sugar” targets health-conscious consumers following its successful reclamation of leadership in the premium green tea market in March. In the Non-Tea segment, “Ichitan Alkaline Water” demonstrated outstanding performance with 41.8% sales growth in Q1/2025, recently enhanced by the introduction of a new 1-liter size to meet increasing consumer demand.
Ichitan Group continues to prioritize cost management and production efficiency, leveraging its impressive 1,700 million bottle production capacity to gain competitive advantage. This capacity also supports expansion of the OEM business, which is expected to show significant growth in Q2/2025. Key drivers include increased production for existing customer “IF Coconut Water” and new business from “Tao Kae Noi,” scheduled to commence production by mid-year. The company is also finalizing agreements with several additional potential OEM customers. In international markets, particularly Indonesia, continued profit growth is anticipated following successful launches of new products including Ichitan Signature Dark Chocolate and Ichitan Fruit Tea, which have gained strong consumer acceptance.
