Sappe Public Company Limited or SAPPE unveiled its operational performance in Q2/2024, achieving another ‘new high’ with a net profit of 410.7 million baht and sales revenue of 1,996.2 million baht. The latest success pushed the total revenue to reach 3,832.3 million baht, increasing 20.6% and a net profit of 763.1 million baht, growing 30.0% in the first half of this year. This marks another ‘All Time High’ for SAPPE, which is poised to build on its success after introducing ‘SEVENTEEN’ as its ‘First Global Brand Ambassador. The company plans to expand a number of product lines under ‘Mogu Mogu’ and continues to strengthen the brand in the global market.
SAPPE Chief Executive Officer, Ms. Piyajit Ruckariyapong, said overall operational performance in the second quarter of this year continued to rise with the sales revenue reaching 1,996.2 million baht, growing 20.5% compared to 1,656.9 million baht in the same period last year. The net profit for Q2 stands at 410.7 million baht, increasing 31.5% compared to 312.3 million baht last year. It was a continuing ‘All Time High’ and contributed to the outstanding results in the first half of 2024, with total sales revenue of 3,832.3 million baht, up 20.6% from 3,177.2 million baht in the same period of the previous year. The net profit of 763.1 million baht, increasing 30.0% from 587.1 million baht in the same period last year, while the net profit margin was 20.6%, up from 18.8% in the same period last year, indicating significant growth domestically and internationally.
In the international market where SAPPE exports products to 100 countries worldwide, the sales revenue was 1,658 million baht, increasing 20.7% compared to the same quarter last year. The key markets that experienced significant growth were Europe and the United States, where the sales increased 42.3% and 31.9% respectively. The growth led to SAPPE’s international sales accounting for 83% of total sales, recognizing a continuous rise in product consumption among the existing customers and the ability to expand distribution channels to the new consumer groups. Additionally, the company has been consistently organizing the marketing promotion activities across Asia, including South Korea, Indonesia and the Philippines.
In July, Mogu Mogu participated in and set up a booth to showcase Mogu Mogu products in the ‘2024 SVT 8TH FAN MEETING-SEVENTEEN in CARAT LAND’ event, held at Gocheok Sky Dome in South Korea. The event gathered SEVENTEEN’s fans, known as Carats, who are primarily Gen-Z, from around the world including Japan, Indonesia, the Philippines, the Americas and Europe. The fan meeting was held both offline and via online livestreaming. At the event, the fans not only enjoyed the fun activities and various prizes, but also received a big surprise from all 13 members of SEVENTEEN, who interacted with the fans in a relaxed manner and brought Mogu Mogu items for the entertaining activities. This event has created a new phenomenon for a Thai product brand which was able to be part of such a significant event in South Korea for the first time, igniting a huge wave of conversation about SEVENTEEN and Mogu Mogu on social media.
SAPPE CEO added that sales revenue from the domestic market was 338 million baht, increasing 19.5% compared to the same quarter last year. It was driven by the growth of all brands especially B’lue vitamin water and All Coco coconut water, which grew exponentially in the modern trade while Sappe Beauti products performed well in both traditional trade and online channel. Furthermore, SAPPE launched two new flavors; Heartbreak and Madly in Love of B’lue vitamin water along with Sappe Beauti Powder Stix in the first half of this year, and these items received a warm welcome from the consumers.
“We still walk towards the goal of making a Thai brand to become Global Brand. In addition to increasing distribution channels, strengthening our brands in the global market and introducing new products in both domestic and international markets, we have launched many campaigns this year, including special gifts and special packs from Mogu Mogu. We also expanded the product lines under Mogu Mogu brand for the international market and gradually launched them, such as the four new flavors of Mogu Mogu candy and three additional flavors of Mogu Mogu Pretzel. The new items greatly spiced up the international market. In Q2/2024, Sappe increased one more line of the product capacity or an increase of product capacity by 20-25% to accommodate the rising order in the future”, Ms. Piyajit said.
