CHAROEN POKPHAND FOODS Table of Content
• Business Overview………………………….. 03-09
• 9M/2024 Financial Results…………… 10-16
• FY2024 Outlook……………………………. 17
Appendix
A: 3Yr Historical Results
B: Products & Raw Materials Price Trend
C: Highlights Q3/2024 Results
D: Group of Associate Companies & Joint Ventures
E: Product Sample & Retail Outlet Format
Charoen Pokphand Foods Public Company Limited
Results Briefing 1H/2024
2
Why Invest in CPF
"CPF is one of the world's leaders in the agro-industrial and food business, dedicated to generating sustainable returns for shareholders while benefiting all stakeholders. Through our commitment to "Sustainovation", CPF leverages technology, science, and innovation to improve efficiency and minimize the environmental impact of our operations"
One of the world's Leaders
World leader in Animal feed manufacturing and swine production
Leading player in livestock business in many countries Distribute to more than 50 countries, reaching over 4 billion people
We are recognized as
SET 50 in Stock Exchange of Thailand
Agro & Food Industry Sector
Member of Dow Jones Sustainability Indices (Emerging
Markets)
Diversified Portfolio
Multi-species animal proteins mainly swine, poultry, shrimp Geographically operate and invest in 17 countries
Wide range of products from upstream to downstream of food chain
Member of FTSE4Good Index Series
Ranked "Excellent" for CGR Scoring by
Thai Institute of Directors (IOD)
ASEAN Asset Class PLCs from ASEAN
Corporate Governance Scorecard (ACGS)
Charoen Pokphand Foods Public Company Limited | 3 |
Results Briefing 9M/2024 |
Sustainable Kitchen of the World
Philosophy of Sufficient Economy
Three-Benefits Principle
GRC
Food Security | Biodiversity & |
Ecosystems | |
Human Rights | Water |
Stewardship | |
Employees | Climate |
Action | |
& Communities | |
Recognized by
Charoen Pokphand Foods Public Company Limited
Results Briefing 9M/2024
Protecting our Climate
"Take action towards positive environmental impact throughout our value chain "
Improving Quality Living of People
"Create positive social impact in the lives of employees and individuals throughout our value chain"
Creating Prosperity Food
"Establish food security with products that promote health and well-being for consumers"
4
Company Highlight
Market Cap THB 206 billion
(or ~USD6.1 billion) as of November14, 2024
- 8,414 million shares
(paid-up) with par THB 1.00 per share
-
Book Value THB 27.79*
per share (as of Sep 30, 2024) - Major Shareholder
Charoen Pokphand Group Ltd.
with 50.05%** of paid-up capital
as of August 30, 2024
Note: USD1 = THB 34.11 (as of November 14, 2024)
- Exclude Non-Controlling Interests (NCI) and Subordinated Perpetual Debentures
(** ) CPG Group is a reporting group to be in compliance with Section 246 and Section 247 of the Securities and Exchange Act of 2535 (as amended)
Charoen Pokphand Foods Public Company Limited
Results Briefing 9M/2024
Sales in FY2023 THB 586 billion
(or ~USD16.2 billion)
Sales Breakdown | |||
Livestock, | TH-Domestic, | TH-Export, | |
87% | Feed, | ||
32% | |||
24% | 6% |
Aquaculture, | Food, | Farm, | International, |
13% | 22% | 54% | |
62% | |||
- 4 listed investments onboard
(HKSE:3839, TWSE:1215, SET:CPALL , SET:CPAXT)
- 28 series of debentures
listed on Thai Bond Market Association
- Credit Rating A with "Stable" Outlook by TRIS Rating
as of Apr 1, 2024
5
Vertically Integrated Business in Thailand
Our integrated food process is designed to deliver top-quality products in nutrition, taste, food safety, and
traceability with "Sustainovation" concept, leveraging technology and innovation to improve efficiency and minimize
the environmental impact of our operations.
1 Feed business
Feed milling
Feed
Pet Snack
2 Farm business
Breeding Breeder
Farming | Live Animal |
Processing | Fresh Meat |
3 Food business
Food and | Food & Retail |
Ready Meal | Outlets |
Distribution Channel
• Own Channel | • Food Services | • Traditional Trade |
• Modern Trade | • HoReCa | • Export |
Charoen Pokphand Foods Public Company Limited | 6 |
Results Briefing 9M/2024 |
CPF Geographical
Footprints
Russia | UK | Belgium | Türkiye | Poland |
Operations and investment in
•
•
•
Livestock feed | Food & Trading | Ready to eat foods | Livestock feed & |
Swine farming | business | Chicken farm | |
Chicken integrated | business | ||
business |
•
•
•
•
Hatchery farm
Food processing plants Seafood business Plant-based meat
17
countries
Catered to Distribute to
> 4 Billion | > 50 |
people | countries |
USA | Canada |
Ready to eat foods | Swine integrated business |
Brazil
Shrimp farming
& primary processing
India | Sri Lanka | ROC | |
• | Chicken integrated business | Ready to eat foods | (Taiwan) |
• | Aquatic feed, Shrimp | Livestock integrated | |
Hatchery & Processing | |||
business | |||
China
• Livestock and
aquaculture feed
• Livestock and
aquaculture farming
• Ready to eat foods | |||
Thailand | Vietnam | ||
Livestock and | Livestock and | ||
aquaculture | |||
Aquaculture | |||
integrated businesses | |||
integrated businesses | |||
Malaysia | Philippines | Laos | Cambodia |
Livestock and | Livestock integrated | Livestock integrated | Livestock integrated |
aquaculture | business and aquaculture | business | business |
integrated business | feed and farming |
Charoen Pokphand Foods Public Company Limited | 7 |
Results Briefing 9M/2024 |
Our Strategy for Growth
Globalization
expand market in 17 existing countries by establishing a proper business model suitable for each strategic market
Fully integrated | Value-added |
business model | business |
from upstream | expand portfolio |
midstream to | towards innovative |
downstream | products and |
services to serve | |
rising demands | |
Digital Transformation
utilize digital tools to improve operation efficiency and to better serve needs of customer.
- Agri-Tech
- Smart Farm
• Smart Factory
- Robot Accountant
Sustainability
ensure sustainable growth by creating shared value for society, environment and well as economic value.
Charoen Pokphand Foods Public Company Limited | 8 |
Results Briefing 9M/2024 |
CPF Operation Structure
as of Sep 30, 2024
- % to Sales Revenue
37% | 63% | ||||||||||||||
CPF Thailand | 1 | CPF International | |||||||||||||
% holding by CPF | |||||||||||||||
37% | |||||||||||||||
direct & indirect | |||||||||||||||
31% | Domestic | 26% CPP | (76.24%) (1) | TW:1215 CPE Taiwan (39.00%) | |||||||||||
UK | (99.97%) | 4 | |||||||||||||
Export | Westbridge | (99.97%) | |||||||||||||
21% Vietnam | 5% China | ||||||||||||||
6% 3% of Sales export | USA (Bellisio) | (100.00%) | 5 | ||||||||||||
through Subsidiaries | 2 | 3 | |||||||||||||
Russia | (100.00%) | ||||||||||||||
9M/2024 | RBPI | (75.87%) | 6 | ||||||||||||
Sales Revenue | S&W | (100.00%) | |||||||||||||
432,238 | Belgium | Philippines | (99.99%) | 7 | |||||||||||
Million Thai Baht | (89.69%) | 13 | CP Cambodia | (100.00%) | 8 | ||||||||||
Net Profit | Sri Lanka (Norfolk Foods) (80.00%) | 14 | Malaysia | (99.99%) | 9 | ||||||||||
CP (Aqua) India | (75.00%) | ||||||||||||||
15,386 | |||||||||||||||
India | (99.99%) | 10 | |||||||||||||
Million Thai Baht | Türkiye | ||||||||||||||
Note : | (100.00%) | 11 | |||||||||||||
HKSE:3839 CTEI | (50.43%) | ||||||||||||||
(1) Based on total issued shares (The privatization of CPP completed on 18 January 2022) | |||||||||||||||
- See Appendix D for full list of associates & joint ventures
Laos | (99.99%) | 12 | |
Charoen Pokphand Foods Public Company Limited
Results Briefing 9M/2024
Associates & Joint Ventures (2)
CP Meiji | (59.99%) | |
HyLife (Canada) | (50.10%) | 15 |
Ross | (49.99%) | |
Arbor | (49.98%) | |
SuperDrop (Poland) | (49.45%) | 16 |
CPF Poland | (49.45%) | |
Camanor (Brazil) | (40.00%) | 17 |
SET: CPALL | (34.45%) | |
SET: CPAXT | (8.85%) |
Group of CPP's Associate
Companies & JCE
Chia Tai Investment (26.69%)
9
Performance Summary
Unit: THB, m | YoY | QoQ | ||||
3Q'23 | 3Q'24 | %Change | Q3'23 | Q3'24 | %Change | |
Sales Revenue | 438,525 | 432,238 | -1% | 144,498 | 142,703 | -1% |
Gross Profit Margin | 10.1% | 14.3% | 10.0% | 15.4% | ||
Selling and administrative expenses | 37,198 | 37,415 | 1% | 12,839 | 12,612 | -2% |
EBIT | 9,913 | 27,009 | 172% | 2,594 | 10,332 | 298% |
EBIT Margin | 2.3% | 6.3% | 1.8% | 7.2% | ||
EBITDA | 38,577 | 56,874 | 47% | 11,084 | 19,167 | 73% |
EBITDA Margin | 8.8% | 13.2% | 7.7% | 13.4% | ||
G/L on FV of Biological Assets | 1,894 | 2,625 | 39% | 320 | 733 | 129% |
Financial Costs | (18,603) | (18,489) | -1% | (6,377) | (6,032) | -5% |
Income Taxes Expense | (437) | (3,655) | 736% | 116 | (1,058) | 1,012% |
Share in Profit of Associates & Joint Ventures | (1,453) | 8,799 | 706% | 528 | 3,655 | 592% |
G/L on Sales of Invt. & Div. | 3,535 | 66 | -98% | 1,285 | 54 | -96% |
Net Profit | (5,328) | 15,386 | 389% | (1,810) | 7,309 | 504% |
Net Profit Margin | -1.2% | 3.6% | -1.3% | 5.1% | ||
EPS (THB) | (0.73) | 1.88 | (0.25) | 0.91 | ||
Dividend (THB/Share) | 0.45 |
- Sales revenue decreased -1.4% YoY
- From divesting broiler farms in China and business restructuring in Poland; otherwise, increased1%.
9M/2023 | Gross profit margin increased to 14.3% | |
Vs | • Lower cost of farm production from efficiency improvement and raw material costs | |
9M/2024 | • Improving meat price in the many countries specially in swine price in Thailand, Vietnam, and Cambodia | |
Financial cost decreased 1% from lower IBD and interest rate | ||
Share in profit of associates improves especially in China, Canada, and CPALL | ||
| Net | of 15,386 up 389% |
Charoen Pokphand Foods Public CompanyProfitL mited | ||
Results Briefing 9M/2024 | 10 |
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CPF - Charoen Pokphand Foods pcl published this content on November 15, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 15, 2024 at 04:19:09.802.
