Thai Energy Drink Maker Reports Lower Exports and Profit

Thai energy drink maker Carabao Group reported an 18% decline in net profit for 2025, citing lower exports to Cambodia, Laos, Myanmar and Vietnam. The company posted net profit of 2.3 billion baht ($70 million) on sales of 11.8 billion baht, down 3% from the prior year. Export revenue from the four-country region accounts for nearly 40% of the company's overseas sales.

Group increased marketing spending inside Thailand to offset the export decline. The company also opened a new factory in Myanmar in September and began sponsoring professional football clubs in Vietnam. A May report from KGI Securities analyst Wetid Tangjindakun stated that management is working to rebuild earnings growth after the loss of sales in Cambodia, while near-term earnings remain pressured by rising aluminum and gas costs.

Group fell 23% over the past year.

The company operates in more than 40 countries and continues to face border tensions with Cambodia that affected sales.