Mr. Tan Passakornnatee, Chief Executive Officer of Ichitan Group Public Company Limited (SET: ICHI), revealed that the trend of the company’s 2Q25 performance is rising with sales revenue expected to grow from the first quarter of THB 1.75 billion by 25%.
During this quarter, ICHI sold its 72 rai of land in Phra Nakhon Si Ayutthaya province to Hon Chuan (Thailand) Company Limited at a price of THB 360 million. The return will be in the form of cash flow and recorded as extraordinary items worth THB 120 million, which the company will use to pay the dividend after reporting its 2Q25 financial statement.
Besides the land sales, ICHI also generated a revenue of THB 185 million from Original Equipment Manufacturer (OEM) business, an increase from 1Q25 of THB 33 million, and received purchase orders for the next quarter worth a total of THB 170 million.
The company is confident that its revenue this year from OEM will reach THB 500 million, while also currently negotiating with 2-3 customers. The manufacturing process for new customers is expected to start during this July.
Mr. Tan stated that during the second quarter, ICHI is heading in the right direction as revenue from foreign markets is recovering, especially from the CLMV market. Meanwhile, the utilization rate is improving from the first quarter to the rate projected to be above 70%.
On June 19, ICHI will start selling a new energy drink, “Tan Power,” at every 7-11 stores to maximize customer access. Furthermore, the raw material cost also seems to reduce by 1.5 – 5%.
Mr. Tan also added that the company aims to push this year’s total revenue to THB 9.5 billion, an increase of last year’s of THB 8.67 billion. ICHI started to see a recovery trend in the foreign market, especially among the CLMV.
Moreover, the company’s utilization rates in the third and fourth quarter are also expected to increase above 2Q25’s 70%, which should improve ICHI’s profit margin. In addition, the company speculated that its Indonesia market’s profit sharing would rise above THB 20 million.
