Thai Union Group PCL reported a record gross profit margin of 19.7% for the second quarter of 2025, with first-half gross profit margin also reaching a new high at 19.3%. The company’s adjusted net profit for Q2 rose by 13.2% year-on-year to THB 1.5 billion, while adjusted net profit for the first half increased by 11.2% to THB 2.8 billion. Sales in the second quarter totaled THB 33.4 billion, and first-half sales stood at THB 63.2 billion.
The Board approved an interim dividend of THB 0.35 per share, representing a payout ratio of 59%. The company noted that its performance came despite challenging market conditions and negative foreign exchange impacts.
Thai Union announced a strategic agreement with Mitsubishi Corporation, which will increase its stake in Thai Union from about 6% to 20%, furthering a partnership that has lasted more than three decades.
“In line with changes in the global trade environment, our strategic transformation is delivering tangible value. We have become a more agile and efficient organization. This focus on strengthening our core operations allowed us to achieve a significant lift in our gross profit margin, proving that we are building a fundamentally stronger company for the future,” said Thiraphong Chansiri, CEO of Thai Union.
By business segment, Ambient sales reached THB 16.6 billion with stable volumes and improved margins due to favorable fish prices and promotional efforts on branded products; GPM was reported at 22%. Frozen product sales were impacted by weak shrimp demand in the U.S., resulting in segment sales of THB 10 billion but still achieving an GPM of nearly 12%. PetCare saw sales of THB 4.4 billion; although lower selling prices affected revenue, volume grew by about 10% compared to last year thanks to demand from key U.S. customers and maintained a strong margin above one-quarter (25%). Value-added products generated sales of THB 2.4 billion with margins above one-quarter as well.
The United States announced a reciprocal tariff rate of 19% on imports from Thailand shipped after August 7—lower than previously anticipated rates—which provides some relief for exporters like Thai Union and offers clarity on future costs (https://www.bangkokpost.com/business/2816219/us-to-impose-19-tariff-on-thai-canned-tuna). To address this development, Thai Union is leveraging its manufacturing sites across fourteen countries—including plants in Thailand, Ghana (with tariffs at or below those imposed on other major exporting countries), Seychelles, and the U.S.—to maintain supply chain efficiency and competitiveness against exporters such as Vietnam and Indonesia.
In addition to operational results, Thai Union completed its fourth share repurchase program during H1 by acquiring nearly nine percent of its paid-up capital.
On the partnership with Mitsubishi Corporation: “Thai Union’s strategic alliance with Mitsubishi Corporation is a testament to the strength of our business and our shared vision for the future of the seafood industry. Together, we will accelerate our growth, enhance our competitiveness, and continue to deliver healthy, sustainable products to consumers worldwide. This partnership, built on decades of trust, will benefit all our stakeholders and solidify our position as a global seafood leader,” Thiraphong said.
The companies aim to combine processing capabilities with procurement and distribution networks through this expanded alliance; areas targeted include strengthening presence in key markets and expanding into segments such as pet food according to evolving consumer trends.
There will be no changes among major shareholders or senior leadership following this transaction; Mitsubishi already held board representation prior to increasing its stake.
Both firms stated their ongoing commitment toward environmental sustainability standards through joint initiatives like SeaChange 2030 focused on responsible sourcing practices.