Analysts estimate that Carabao Group's profit will recover from the third quarter of 2026 onward, with the contract distribution business, especially fragrant rice liquor, serving as a key new growth engine. The spirits market is worth approximately 80 billion baht, significantly larger than the energy drink market at around 45 billion baht, and CBG holds a spirits market share of about 17 to 18 percent, leaving ample room to expand its customer base. The research division of Land and Houses Securities expects that within the next two to three years, revenue from the distribution business will become the company's main revenue stream, overtaking the energy drink business for the first time. Meanwhile, the energy drink business remains strong due to the strategy of maintaining a selling price of 10 baht per bottle, and international markets such as Myanmar are still growing 20 to 30 percent per year. The business in England will shift to selling concentrate to local partners by early 2027 to end annual losses of about 100 million baht. Bualuang Securities states that profit in the second quarter of 2026 has bottomed out and is expected to recover in the third quarter, continuing into next year, with a fair price of 56 baht per share, while Land and Houses Securities gives a target price of 58 baht with a buy recommendation.
Carabao Group Public Company LimitedAlcohol distribution business, especially fragrant rice liquor, is a new growth engine with large market potential.