Thai Union Shows Strong First Quarter with 32,000 Million Baht Revenue and Net Profit Exceeding 1,100 Million Baht

Thai Union delivered impressive first quarter results with 7.6% growth, supported by strong performance from pet food and frozen seafood businesses, while gross profit surged 29% compared to the previous year. Net profit reached 1,113 million baht. CEO Theeraphong Chansiri of Thai Union Group Public Company Limited stated that first quarter performance reflects effective pricing strategies, strong product portfolio structure, operational discipline, and the company's global business infrastructure and adaptability.

These strengths enabled Thai Union to manage multiple pressures including geopolitical conflicts, import tariffs, and unfavorable exchange rate trends. Despite these challenges, the pet food and frozen seafood businesses continued growing robustly, while transformation costs declined steadily. With this strong foundation, the company is poised to drive further growth in 2025.

Although Thai Union faces cost pressures from U.S. import tariffs, gross profit still grew 3.8% year-over-year to 5,825 million baht with a gross margin of 18.2%, reflecting effective pricing and cost control strategies. Earnings per share reached 0.29 baht, up 18%, primarily due to reduced share count following the share buyback program.

The PetCare business segment performed outstandingly with sales increasing 22.6% year-over-year to 5,115 million baht, driven by strong demand in the U.S. and Europe, recovery in Japan, and rising premium product mix. The Ambient (processed seafood) segment saw sales rise 2.5% to 15,136 million baht through price adjustments offsetting import tariff cost impacts, with volume remaining stable. The Frozen seafood business grew 11.6% to 9,420 million baht from both price increases and volume growth, particularly in shrimp and aquafeed categories. The Value-added products segment declined 1.2% to 2,383 million baht due to weaker U.S. demand and portfolio restructuring.

For 2025, amid volatile global business conditions, Thai Union is closely monitoring U.S. import tariffs, Middle East tensions, and production costs. The company targets 3-4% sales growth, 19-20% gross profit margin, and selling and administrative expenses of 13.5-14.5% of sales, while maintaining commitment to shareholder returns through dividends of no less than 50%.

Theeraphong stated: "First quarter performance reinforces Thai Union's adaptability and validates our transformation strategy. We remain focused on effective pricing strategies, maximizing our global supply chain and production networks, and maintaining operational flexibility to navigate ongoing uncertainties."