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Carabao Group Net Profit Falls 18 Percent in 2025 on Export Weakness
Thai energy drink maker Carabao Group reported an 18 percent drop in net profit for 2025 to 2.3 billion baht on a 3 percent sales decline to 11.8 billion baht. The results reflect reduced exports linked to border tensions with Cambodia, with the trend extending into early 2026.
Jul 9, 6:00 PM·1m read1 source
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Carabao Group posted an 18 percent decline in net profit for 2025 to 2.3 billion baht, equivalent to $70 million, according to @Forbes reported. Sales fell 3 percent to 11.8 billion baht, driven primarily by weaker exports. The company sells its products in more than 40 countries and derives nearly 40 percent of export revenue from Cambodia, Laos, Myanmar and Vietnam.
Border tensions with Cambodia reduced sales in that market, and the export decline continued into the first quarter of 2026. To counter the drop, Carabao Group increased marketing efforts in Thailand. It opened a new factory in Myanmar in September 2025 and began sponsoring professional football clubs in Vietnam.
In a May 2026 report, KGI Securities analyst Wetid Tangjindakun stated that management is working to rebuild earnings growth following the loss of sales in Cambodia, but near-term earnings remain pressured by rising aluminum and gas costs. Shares of Carabao Group are down 23 percent over the past year as of July 2026.
