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Some of the seafood products marketed by Thai Union Group.

Thai Union sales reach USD 1.1 billion in Q4 2018

  (THAILAND, 2/22/2019)

Thai Union Group PCL reported a 3.7 percent rise for its sales in 4Q 2018 compared with the same period the year before, to a record THB 36 billion (USD 1,156 million).

Click on the image to enlarge

The group´s operating profit increased 55.2 percent year-on-year on the analized term, to THB 1.50 billion (USD 48.2 million), the highest quarterly margin in two years.

The Frozen, Chilled Seafood, and PetCare businesses contributed to a stronger performance due to price adjustments and operational improvements.

*Remark: 4Q18 normalized net profit is adjusted for Edinburgh Salmon Company (ESCo) business closure-related expenses of THB
69mn (2H18) and TMAC, distributor of shrimp feed, investment impairment of THB 87mn
1Q17-4Q18 figures were restated mainly due to COGS reclassification, and reclassification of ESCo’s financial to discontinued operation

Consolidated sales in FY 2018 declined 1.2 percent, to THB 133.28 billion (USD 4,280.4 million), due to the Thai baht's appreciation against the U.S. dollar. If the foreign currency impact is excluded, FY2018 sales would have increased by 0.5 percent year-on-year.

Gross profit decreased 2.2 percent year-on-year,compared to 2017, due to material prices and foreign exchange rate volatility, mainly during 1Q 2018.

"Despite challenging market conditions, we stayed firmly focused on operational excellence and profitability improvement. The good results from last quarter gives us confidence that 2019 will see a stronger and successful year," said Thiraphong Chansiri, CEO of Thai Union.

Sales in North America continued to play an important role in the company's revenue, accounting for 39 percent of total sales, while Europe contributed 30 percent.

Remark: Excluding one-time net accrual for US legal-related settlement of THB1,359mn (2Q18), ESCo business closure-related expenses of THB489mn (2H18) and TMAC investment impairment of THB 87mn (4Q18), 1Q17-4Q18 figures were restated mainly due to COGS reclassification, and reclassification of ESCo’s financial to discontinued operation 

The participation in Thailand's domestic market grew to 11 percent of total sales, while sales to Asia Pacific, Middle East, Africa and South America represented 20 percent.

For 2019, Thai Union expects to achieve 5 percent increase in organic sales growth and 15 percent gross profit margin.

The company aims to maintain stringent cost control initiatives to keep SG&A-to-sales ratio (selling, general and administrative expenses) at around 10 percent level, which should result in further profit recovery in 2019.

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Information of the company:
Address: 72/1 Moo 7, Sethakit 1 Road, Tambon Tarsrai
City: Amphur Muangsamutsakorn
State/ZIP: Samutsakorn (74000)
Country: Thailand
Phone: +66 2 298 0024
Fax: +66 2 298 0548
E-Mail: [email protected]
More about:


Location:


Approval / Accreditation / Certified / Oversight by...
IFS (International Food Standard)  Dolphin Safe  HACCP  ISO   MSC/Marine Stewardship Council  UKAS  E.U.  USDA/USDC & FDA 
RF (Russia)  BRC (British Retail Consortium)  BVQi 



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