ICHI Launches Ambitious 3-Door Strategy to Achieve 10 Billion in 3 Years, Fueling Sales Surge, Revolutionizing Production Capabilities

ICHI unveils a sustainable growth plan with a 3-door strategy towards achieving Ichitan's 10 billion in 3 years. Sales surge dramatically, enhancing robust production capabilities for diverse manufacturing and creating new market opportunities, seeking new ventures and partnerships for organizational resilience in the new era.

Mr. Tan Passakornnatee, CEO of Ichitan Group PCL. (ICHI), Ichitan has successfully overcome COVID, generating positive growth signals from 2022 to 2023. Consistent double-digit growth has been achieved across all aspects, including established products like Ichitan Green Tea and Yen Yen Herbal Tea, effectively distributed in modern and traditional trade, covering the entire nation. New high-value products such as Ichitan Alkaline Water 8.5, Shizuoka Green Tea, and Tansansu Korean Soda have gained market traction with a clear set of new consumers, increasing sales by 21.3% in 2022. Recently, the announced sales target adjustment of 7.6 billion THB (From 7.3 billion THB) within 2023 reflects a 20% growth. This progress is accompanied by Q2/2023 performance, reporting a revenue of 2,029.7 million Baht (up 25.6%) and a net profit of 255.6 million Baht (up 67.6%) compared to the same period last year, marking 29 consecutive quarters of consistent growth.

Regarding distribution channel efficiency reflects growth of Ichitan products coverage nationwide. On the export front, a promising direction is evident with growth of 5.83%, particularly within the CLMV group. The Ichitan OEM Service is also thriving, with the continuous engagement of major partner customers expected to yield revenue exceeding 100 million baht.

Turning our attention to Ichitan Green Factory's manufacturing potential, it employs high-tech, high-speed, and hygiene production techniques, incorporating cold aseptic filling technology for modern beverage production. The factory's capability ranges from 600-900 bottles/minute, with an annual production capacity approaching 1.7 billion bottles. Currently, the Utilization Rate has surpassed 70%, signifying efficient production.

It's anticipated that positive signals will continue from the forward orders, along with the hot weather. Furthermore, we are advancing product development to cater to consumer preferences. Expanding on the success of Korean soda, we're introducing a new sensation, "Tansansu," with a fresh twist- the delightful taste of "Tansansu Honey Lemon," set to launch in October. This addition aims to be a product champion in boosting soft drink sales, catering to domestic and global markets, and driving growth in the carbonated beverage segment.

While the overall ready-to-drink tea market continues its consecutive growth, the latest data from Nielsen reveals impressive figures for the first 6 months of this year, reaching a value of 8,236 billion THB, representing a remarkable 19.07% growth. Green tea has turned into a classic beverage option. Over the past three years, it has consistently ranked among the top-performing product categories in the Thai beverage market, thanks to its status as an everyday refreshment. The infusion of natural caffeine and authentic flavors resonates with Thai consumers, making it a versatile choice that caters to various consumer groups.