SAPPE Reports Q2/2026 Total Revenue of THB 1.538 Billion, Driven by Recoveries in International and Domestic Markets Effective Cost Management Supports Performance, with Continued Growth Expected in Q3/2026
SAPPE Public Company Limited, or SAPPE, announced its financial results for the second quarter of 2026, recording sales revenue of THB 1.500 billion, an increase of 16.1% QoQ, and a net profit of THB 189 million. The performance was supported by continued recoveries in both international and domestic markets, together with effective cost management, despite challenges in the Middle East. SAPPE expects growth to continue in the third quarter of 2026 and remains committed to driving full-year revenue growth in line with its target.
Ms. Piyajit Ruckariyapong, Chief Executive Officer of SAPPE Public Company Limited, or SAPPE, revealed that for the second quarter of 2026, covering April to June, the company recorded sales revenue of THB 1.500 billion, representing an increase of 16.1% from THB 1.292 billion in the previous quarter. Total revenue reached THB 1.538 billion, reflecting recoveries across several international markets, particularly Asia and the United States, while Europe began to recover gradually. Sales in the Middle East, however, slowed due to temporary logistics disruptions caused by regional conflict.
Net profit amounted to THB 189 million, an increase of 3.3% QoQ from THB 183 million, despite higher selling and marketing expenses associated with brand-building investments to support long-term growth.
SAPPE continued to maintain strong profitability, recording a gross margin of 44.2%, close to the level achieved in the same period of the previous year, despite higher production costs resulting from increases in oil and resin prices. Key supporting factors included the depreciation of the Thai baht and effective cost management through internal cost-saving initiatives, improved production capacity utilization, and the advance securing of prices for key raw materials such as sugar since late last year.
International sales revenue in the second quarter of 2026 amounted to THB 1.071 billion, a decrease of 3.1% compared with the same period of the previous year. The decline was primarily attributable to unrest in the Middle East, which affected sales in the region. Nevertheless, sales in the Americas continued to grow, supported by the expansion of distribution channels, while the Asian market maintained growth in line with the company’s target compared with the previous quarter.
Domestic sales revenue in the second quarter of 2026 stood at THB 429 million, a decrease of 3.1% from the same period of the previous year. This was mainly due to persistently low coconut prices since the first quarter, which affected revenue from the All Coco business. Nevertheless, the Functional Drinks and Healthier Drinks category delivered solid growth, particularly B’lue, which achieved outstanding sales growth in response to the health-conscious preferences of modern consumers.
Most recently, B’lue launched Thailand’s first clear vitamin water inspired by ice cream flavors in two varieties: B’lue Bubble Gum Ice-cream Flavor and B’lue Black Forest Ice-cream Flavor. Both products have received a positive response from consumers.
The Chief Executive Officer of SAPPE added that the company expects its operating performance to continue growing in the third quarter of 2026, driven by sales recoveries across several key markets and expectations that the situation in the Middle East will gradually improve.
Although full-year revenue growth continues to face pressure and challenges arising from uncertainties in international markets, SAPPE remains committed to achieving its original growth target of 15%, supported by disciplined cost management and the strength of its global brands.
“SAPPE continues to drive business growth alongside sustainable development, which is a key strategy for strengthening our business and enhancing our long-term competitiveness. We integrate ESG principles throughout our value chain, from developing at least 20 new beverage innovations each year and implementing a 100% Zero Water Discharge system to using solar energy, developing packaging based on Circular Economy principles, and carrying out initiatives that promote community health and quality of life.
“This commitment recently earned SAPPE the Prime Minister’s Export Award 2026 in the Best Green & Sustainable Exporter category from the Department of International Trade Promotion, or DITP. As the highest recognition presented by the Thai government to outstanding Thai exporters, the award reflects SAPPE’s ability to create responsible growth while strengthening the competitiveness and long-term sustainability of Thai brands on the global stage,” Ms. Piyajit concluded.
