Bangkok, February 28, 2025 – HaadThip Public Company Limited (HTC) has announced its performance results for 2024, reporting total sales revenue of 8.13 billion baht, reflecting a growth of 4% from 2023. The company also recorded a net profit of 602 million baht, an increase of 0.6%.  Looking ahead to 2025, the company remains confident in sustaining continuous sales growth, driven by the continuing recovery of the Southern economy and strategic revenue growth initiatives, including the launch of new consumer-centric innovations as well as optimized pricing and packaging strategies (Price & Pack Mix) tailored to different sales channels. The company’s glass bottle business, which commenced production and market distribution in late 2024, is expected to support growth as it develops further in the coming years.

HaadThip, the authorized bottler and distributor of Coca-Cola beverages in 14 Southern provinces of Thailand, reported an annual sales revenue of 8.13 billion baht for 2024, an increase of 324 million baht or 4% year-over-year. The highest growth was observed in the HoReCa (Hotels, Restaurants, and Cafés) channel, which expanded by 19%, and the convenience store channel, which grew by 15%, reflecting the strength of the region’s tourism and service sectors. Meanwhile, sales in traditional trade channels also sustained growth at 4%.

By product category, the zero sugar segment continued its high growth trajectory, with sales increasing by 23% in 2024. Despite rapid expansion in recent years, zero sugar products account for only 5% of total sales, indicating substantial long-term growth potential. In 2024, HaadThip introduced five new zero sugar beverages: ‘Coke Zero Sugar Lime,’ ‘Coca-Cola K-Wave Fruity Fantasy Zero Sugar,’ ‘Schweppes Mandarin Yuzu Zero Sugar,’ ‘Coke Zero Sugar Oreo,’ and ‘Schweppes Blood Orange Pomegranate Soda Zero Sugar.

During 2024, HaadThip made selective price adjustments to mitigate rising production costs, particularly due to higher liquid sugar and aluminum can prices. Additionally, the company optimized its product sizing, packaging (Pack Mix), and sales channels (Channel Mix) to align with market conditions. As a result, by year-end, gross profit reached 3.47 billion baht, up by 179 million baht compared with that of 2023. With slight increases in selling, administrative, and financial costs - driven by higher sales volume, long-term investment in production capacity expansion, and the expiration of tax incentives for PET preform and bottle manufacturing - HaadThip achieved a net profit of 602 million baht, an increase of 4 million baht or 0.6% compared to the previous year.

Major General Patchara Rattakul, Chief Executive Officer, highlighted the company’s 2025 outlook: “The Bank of Thailand projects the Southern economy to expand by 3.1%–4.1% in 2025, fueled by continued growth in tourism and services alongside a recovery in the agricultural sector, which will enhance consumer purchasing power. HaadThip will maintain its strategy of optimizing pricing and packaging for different sales channels while introducing innovative products that resonate with consumers. Furthermore, our newly launched glass bottle production line, an 800-million-baht investment, is now operational. Iconic brands like ‘Coke’, ‘Fanta,’ and ‘Sprite’ in returnable glass bottles have been available in the market since late 2024 and have received a very positive response from both consumers and retailers. We believe the glass bottle business presents an opportunity for growth, particularly in the restaurant sector, while also supporting our commitment to reducing plastic usage and optimizing packaging costs in the long run.”

According to Nielsen Thailand’s data at the end of 2024, HaadThip remains the market leader in the Non-Alcoholic Ready-to-Drink (NARTD) segment within Thailand’s 14 Southern provinces, holding a 24.7% market share. Additionally, ‘Namthip’ bottled water’s market share increased to 8%, while HaadThip retained its dominant position in the sparkling soft drink category, capturing a 78.3% market share in the Southern region.