February 27, 2025 – Charoen Pokphand Foods Public Company Limited (CP Foods) announced a record-breaking net profit of THB 19.5 billion for 2024, marking an impressive 476% surge from the previous year’s losses. The company attributes this success to strong overseas operations, effective cost management, and a rebound in the swine industry.
Key Financial Highlights:
- Total Sales: THB 580.7 billion
- Net Profit: THB 19.5 billion (+476%)
- Revenue Breakdown:
- 63% from overseas markets (operations in 13 countries)
- 31% from Thailand
- 6% from exports to over 50 countries
- Segment Contribution:
- Animal feed (23%)
- Farming operations (55%)
- Food products (22%)
Driving Factors Behind the Growth
- Swine Industry Recovery: Rising pork prices in Vietnam, driven by African Swine Fever (ASF) outbreaks, boosted revenue.
- Business Restructuring & Efficiency Gains: Improved cost control, raw material procurement, and financial cost reductions strengthened overall profitability.
- Sustainability & Innovation (“Sustainovation”): CP Foods ranked in the top 1% of the S&P Global Corporate Sustainability Assessment (DJSI), reinforcing its commitment to balanced economic, social, and environmental growth.
Outlook for 2025
CEO Prasit Boondoungprasert emphasized that CP Foods aims to sustain its growth trajectory by optimizing assets, managing expenses, and developing new products aligned with consumer preferences. The company is also closely monitoring global risks, including:
- Potential trade policy shifts under a “Trump 2.0” administration
- Climate change impacts on agricultural supply chains
- Animal disease outbreaks affecting production
Dividend Announcement
CP Foods’ Board of Directors approved a final dividend payment of THB 0.55 per share, bringing the total 2024 dividend to THB 1.00 per share. The final payout is subject to shareholder approval at the Annual General Meeting on April 24, 2025.
