Ubon Bio Ethanol Public Company Limited or UBE reports its operating results for the first half of 2024, achieving a total revenue of 3,470 million baht and a profit of 150 million baht. This impressive growth is driven by increased sales volume and higher selling prices of fuel-grade ethanol. Furthermore, the starch and flour business benefited from the sales volume of high-value products and higher selling prices. Looking ahead to the third quarter, the company is gearing up to launch the Future Food Innovation Center, a key initiative in its strategic plan to position UBE as a leader in the healthy food market.

Ms. Sureeyot Khowsurat, CEO of UBE, the largest well-integrated tapioca player in the northeast region of Thailand using cassava roots as raw materials with its core products include ethanol, tapioca starch, and cassava flour which are available in both conventional (native) and organic forms revealed that “The overall operating results in the first half of 2024 showed a strong recovery from the previous year. The fuel-grade ethanol business experienced an increase in both sales volume and selling price. However, sales decreased in the second quarter due to the low-season period and the scheduled maintenance shutdown of the ethanol and tapioca starch plants as per the annual plan. Nevertheless, it still grew by more than 35% compared to the second quarter of 2023. The starch and flour business experienced a decrease in sales volume in the second quarter due to higher freight costs, leading customers to postpone receiving products. However, the overall first half of the year saw growth due to increased sales volume of organic tapioca starch and sweeteners, along with higher selling prices for conventional tapioca starch. In term of the Tasuko brand, domestic marketing efforts for cassava flour products have expanded sales channels to reach more consumers. Recently, ready-to-eat Tasuko brownie brittle products in Sea Salt flavor were piloted in over 200 Inthanin stores nationwide. Additionally, Ubon Sunflower (UBS), a subsidiary, won two Thai FDA Quality Awards: The Outstanding Establishment Award for Food and the Outstanding Healthy Product Award for promoting the use of domestic raw materials. These achievements reinforce our commitment to becoming a leader in healthy food products of the future. Looking ahead to the second half of the year, the ethanol business has secured enough raw materials to support production for the upcoming tourist season during the third and fourth quarters. The starch and flour business is also seeing positive signs with customer orders gradually returning. We will continue to focus on biotechnology innovations in food and energy, particularly in research and development. Preparations are underway to open a Future Food Innovation Center to develop high-value, innovative healthy food products that meet all market needs. This significant step will drive UBE Group towards its goal of becoming the leader in future food products.”

UBE's operating results for the second quarter of 2024, which ended on June 30, 2024, showed a total revenue of 1,580 million baht and a net profit of 42 million baht, marking a 139% increase compared to the same period last year (YoY). This growth was primarily driven by the ethanol fuel-grade business, which experienced higher sales volume and selling prices, as well as the starch and flour business, where the sales volume of organic starch and sweetener products increased alongside rising prices for conventional tapioca starch.