Thai Union Group PCL has reported a 10.3% decrease in sales for the first quarter of 2025, totaling THB 29.8 billion. The decline is attributed to a reduction in organic sales growth by 6.9%, as well as unfavorable foreign exchange effects. Despite these challenges, the company’s gross profit margin reached a record high for the first quarter at 18.8%.
The company’s adjusted net profit, excluding transformation costs related to its Strategy 2030 initiative, rose by 8.9% year-on-year to THB 1.3 billion, while the reported net profit stood at THB 1 billion.
CEO Thiraphong Chansiri stated, “Despite a challenging macro backdrop, we continued to strengthen our core businesses, invest for long-term growth and deliver healthy profitability.”
In terms of specific business segments, PetCare sales increased by 5.5% year-on-year to THB 4.2 billion with a gross profit margin of 24.5%. However, ambient sales decreased by 14% due to lower demand from the Middle East and reduced private label sales in Europe amid rising fish prices.
The frozen business also experienced a decline in sales by 12.2%, largely due to increased shrimp prices affecting U.S. markets; however, its gross profit margin improved slightly compared to last year.
Thai Union continues to monitor potential impacts from changes in U.S tariff rates and has proactively built up inventory across all categories in anticipation of any disruptions.
Furthermore, Thai Union’s credit rating was affirmed at A with a stable outlook by Japan Credit Rating Agency Ltd., reflecting strong brand power and earnings stability.
As part of its sustainability efforts under the SeaChange 2030 strategy, Thai Union secured a USD 150 million Blue Loan from the Asian Development Bank aimed at enhancing sustainable shrimp procurement practices in Thailand.