Thai Union Group PCL reported its financial results for the third quarter of 2025, highlighting an adjusted net profit of THB 1.5 billion. The company stated that this represents a quarter-on-quarter improvement and reflects sustained profitability despite ongoing global challenges.
Reported sales for the period were THB 34.5 billion, which is slightly lower than the same quarter last year due to foreign exchange effects. However, organic sales returned to growth after two quarters of decline, supported by performance in the pet care and frozen food segments. The company recorded THB 4.1 billion in free cash flow over the first nine months of 2025.
Thiraphong Chansiri, CEO of Thai Union Group, said: “Our Q3 results show that Thai Union is exceptionally resilient and regaining momentum. Despite macroeconomic challenges, we are seeing encouraging signs of organic growth, improved sales volumes and a very healthy gross profit margin of 19%. It confirms we are on the right track with our strategy to develop our operational agility, strengthen our core and re-energize our brands.”
Gross profit reached THB 6.5 billion for the quarter, a slight decrease compared to the previous year’s high levels. The frozen category saw a notable increase in gross profit due to favorable product mix and lower raw material costs for feed. As a result, gross profit margin stood at 19%, within the company’s target range.
Adjusted net profit—excluding transformation costs—was THB 1.5 billion as reduced financial and tax expenses helped mitigate pressure on margins. Reported net profit was THB 1.3 billion.
Thai Union’s ongoing strategic transformation initiatives, Project Sonar and Project Tailwind, remain integral to its long-term roadmap under Strategy 2030. Transformation costs have impacted short-term profitability but are expected to decrease from 2026 onwards. The company is also pursuing cost reductions across manufacturing, procurement, and overheads with a target of achieving USD 118 million in net savings by 2027.
Segment results varied during the quarter:
– Ambient products saw a year-on-year sales decline of 3.8%, primarily due to currency headwinds.
– Frozen foods posted a sales increase of 5.1% year-on-year with gross profit margin reaching its highest level in seven quarters at 13.8%.
– PetCare delivered year-on-year sales growth of 6.2% in baht terms (14.2% in U.S. dollar terms), driven by strong demand in both U.S. and European markets.
The company’s financial position remains solid with a net interest-bearing debt to equity ratio at 1.1x and net debt to EBITDA at 4.7x, supporting continued investment capacity.
TRIS Rating has maintained Thai Union’s rating at “A+ with stable outlook,” reflecting confidence in its financial health.
In sustainable finance efforts, Thai Union raised THB 24 billion through blue financing instruments in 2025 alone—combining blue bonds with sustainability-linked bonds—and achieved an oversubscription rate of nearly four times from investors. With this initiative, the company surpassed its goal of securing at least three-quarters of its long-term funding from sustainable sources by this year and aims for full sustainability-linked financing by the end of this decade.
“As we look ahead, our focus is on finishing 2025 strong and setting the stage for a successful 2026,” Chansiri added. “We are building a simpler, leaner, and faster organization—one that is ready to lead in marine health and nutrition.”