Thai Union Group PCL reported its financial results for the full year and fourth quarter of 2025, highlighting record profitability despite challenging economic conditions. The company achieved a gross profit margin of 18.9% for the year, which is its highest to date. This performance was supported by improved margins in the Frozen business, a better business mix, and strict cost management.
Sales volumes rose by 2.5% to reach 908,000 metric tons in 2025, with growth across Ambient, Frozen, and PetCare categories. Full-year sales amounted to THB 133 billion. Adjusted operating profit, excluding transformation costs, was THB 7 billion.
For the fourth quarter of 2025, organic sales grew by 0.7% when excluding foreign exchange impacts. Growth was driven by increased volumes in Frozen, Feed, and PetCare segments.
The company declared a dividend payment of THB 0.35 per share for the second half of the year. This brings the total annual dividend to THB 0.70 per share—a rise of 6% compared to the previous year—and represents a payout ratio of nearly 58%. Earnings per share also increased by 7.2% year-on-year as Thai Union continued its program of share repurchases.
President and CEO Thiraphong Chansiri commented on these results: “2025 was a year of exceptional external headwinds, from tariffs to currency pressures, yet Thai Union remained resilient and achieved record gross profit margins, earnings per share growth, and constant progress on sales volumes. Importantly, the transformation we have already put in place allowed us to act as one global organization — moving faster, managing costs with discipline, and protecting margins even as cost pressures intensified. This execution under challenging conditions reinforces our confidence in the strength of our platform and our ability to perform consistently.”
In terms of business categories:
– Ambient saw volume expansion in Europe, North America (U.S. & Canada), and Thailand but experienced a slight decline in sales due to lower average prices.
– The Frozen segment’s sales grew by over three percent with volumes up more than five percent year-on-year; higher selling prices linked to U.S tariffs contributed to an all-time high gross profit margin for this category.
– PetCare posted a modest increase in sales with notable demand from key customers in both U.S. and Europe; its gross profit margin exceeded targets for three consecutive quarters.
– Value-added products maintained strong margins but faced reduced demand in the U.S.
During the first half of 2025 Thai Union completed its fourth buyback program—repurchasing shares worth THB 4.3 billion—and subsequently reduced registered capital through cancellation of some shares.
On sustainability metrics and ESG leadership: In 2025 Thai Union improved its FTSE Russell ESG score from 4.1 to 4.3 out of five due largely to enhanced disclosures across environmental and governance themes; it also raised its CDP rating from B to A reflecting progress on decarbonization efforts under SeaChange 2030.
Looking ahead into next year (2026), Thai Union expects continued growth in both revenue (targeting three-to-four percent) and profitability—with projected gross profit margins between nineteen and twenty percent—as foreign exchange pressures ease further transformation initiatives take effect across operations especially within Ambient/Frozen categories.
The company will continue focusing on operational discipline while aiming for long-term cost savings through ongoing programs such as Cost Reset—which targets USD sixty million savings next year—and maintains commitment toward shareholder returns via at least fifty percent dividend payout ratio.
Mr. Thiraphong added: “Thai Union is entering 2026 from a position of greater strength and readiness,” he said.“Our focus on innovation and sustainability continues to differentiate our portfolio particularly in premium segments where customers value quality responsibility and long term partnerships.We believe we have built the right foundations to deliver sustainable growth in today’s trade environment.”