Mega Lifesciences (MEGA) Q4 2025 earnings summary

Executive summary

• FY 2025 revenue reached THB 14.147 billion, with a narrowed decline of 7.8% YoY, driven by improved sales momentum in Myanmar distribution and brands business in 2H 2025.

• Branded business revenue grew 4.3% YoY to THB 8.729 billion, with double-digit growth in all markets except Myanmar, which was impacted by currency and market conditions.

• Operations span manufacturing and distribution of health supplements, pharmaceuticals, OTC, herbal products, vitamins, and FMCG, with a global presence through subsidiaries and joint ventures.

• Financial statements are prepared in accordance with Thai Financial Reporting Standards (TFRS) and presented in Thai Baht.

• EBITDA increased 2.6% YoY to THB 2.74 billion, supported by branded business growth and Myanmar recovery.

Financial highlights

• FY 2025 reported net profit was THB 1.91 billion, down 5% YoY, mainly due to higher tax expenses after expiry of tax privileges.

• Revenue for 2025 was Baht 14,147 million, down from Baht 15,344 million in 2024.

• Earnings per share (EPS) for 2025 was Baht 2.19, down from Baht 2.31 in 2024.

• Total assets as of 31 December 2025 were Baht 15,759 million, up from Baht 14,210 million in 2024.

• Operating cash flow was THB 2.77 billion, representing 145% of net profits, indicating strong cash generation.

Outlook and guidance

• Revenue growth for FY 2026 is targeted at 8-12%, with branded business expected to lead and distribution to grow 5-10%, mainly driven by Myanmar recovery.

• Bottom line (net profit) is expected to grow in the low double digits.

• CapEx of THB 2.7 billion planned over the next three years for manufacturing expansion in Myanmar, Vietnam, Indonesia, and Thailand.

• Management is monitoring the impact of new TFRS amendments effective 2026, particularly regarding foreign exchange rates.

• The Board approved a dividend of Baht 0.80 per share, subject to shareholder approval.