Stocks in the news (planb, spvi, thbev) 16.02.26
Plan B Media Public Company Limited is a leading out-of-home advertising media service provider in Thailand and the ASEAN region, offering a diverse portfolio of digital and static billboards, transit media, and engagement marketing through sports and artist management businesses.
PLANB: The Co targets revenue exceeding Bt10bn by 2026, benefiting from strong performance across all media and event sectors. The plan to allocate Bt700-900mn for renovating existing media assets and expanding into new businesses. It also anticipates a strong new government will boost out-of-home advertising spending. Furthermore, PLANB aims for a record profit of around Bt1.1bn by 2025, reflecting some challenges such as earthquakes, floods, and the mourning period.
Comment: I’m working under the assumption that this business line is going to have to be more government focused. They’re the main institution in Thailand that will still focus on billboard ad’s. As for the Media & Events…there’s no sponsorship money being spent for the past 3 years, let’s see if this changes.
S P V I Public Company Limited is a leading retailer and distributor of Apple products in Thailand, operating through brands like iStudio and U-Store, while providing integrated IT solutions and after-sales support for the education and corporate sectors.
SPVI: It accelerates margin boosting by increasing non-Apple sales. CEO Traisorn showcases strong 2025 profit growth of 110.02%, bringing in Bt101.63mn in revenue. The Co is prioritizing profitability (margins) by focusing on same-store sales growth (SSSG), coupled with aggressive cost reduction and conservative market expansion to cope with global political and economic volatility.
Comment: Apple drives revenue, everything else drives margins.
Thai Beverage Public Company Limited is Southeast Asia’s leading beverage producer and distributor, featuring a vast portfolio that includes iconic spirits and beers like Chang and SangSom, along with non-alcoholic drinks and a growing regional food business.
THBEV 1Q26 business updates: rev. saw sharp -6% y/y decline, however EBITDA +1.8% y/y after 4 consec quarters of y/y declines. 1Q26 EBITDA made up 28.1% of DBS FY26F est., in line with avg 1Q contribution in 1Q24 and 1Q25 of 28.4%.
Comment: It’s now at 10x PE….but with demand for revenue continuing to increase in Thailand and Vietnam – I wouldn’t be surprised to see higher excise taxes.
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