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    TU   TH0450010Y08

THAI UNION GROUP PUBLIC COMPANY LIMITED

(TU)
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Seafood firm Thai Union targets $5.2 billion revenue by 2025

03/09/2021 | 05:07am EDT
FILE PHOTO: The logo of The Thai Union Group is pictured at its R&D lab in Bangkok

BANGKOK (Reuters) - The world's largest canned tuna producer, Thai Union Group Pcl is targeting 5% annual growth for the next five years to reach 160 billion baht ($5.19 billion) by 2025, betting on alternative proteins and food supplements, its top executive said on Tuesday.

"We are not going after scale, but emphasis will be on quality of business," chief executive Thiraphong Chansiri told a news conference.

"Before, we looked at emerging markets like China and the Middle East, but we were not successful in those markets."

Thai Union this month will launch its own brand of plant-based meat, OMG Meat, in Thailand and has been selling products to retailers like Tesco Plc in Britain and restaurant operators Minor International Pcl.

"We expect sales of 100 million baht this year and upwards of 1 billion baht within five years," Thiraphong said.

Its alternative protein products includes all meat types including, pork, crab meat and other seafood. Thai Union has also invested in two cell-based protein startups through its $30 million venture fund.

It has also partnered with Thai Beverage to produce nutritional drinks.

Its revenue last year grew for the first time in three years after pandemic-related lockdowns fuelled demand for its products, including pet food, after people bought pets, Thiraphong said.

Thai Union booked revenue of 132 billion baht ($4.29 billion) in 2020.

In 2021, it plans capital expenditure of up to 6.5 billion baht, higher than its average of 4 billion baht, in cold storage, supplementary foods and protein ingredients.

The company was also exploring ways to incorporate cannabis and the non-psychoactive ingredient, cannabidiol (CBD) in its products after the Thai government allowed hemp to be used in food and cosmetics. Regulations at present prohibit its use in packaged food.

"We just have a name, 'Happy Tuna'," Thiraphong said.

($1 = 30.7800 baht)

(Reporting by Chayut Setboonsarng; Editing by Martin Petty)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AURORA CANNABIS INC. -3.66% 8.69 Delayed Quote.-14.91%
AUXLY CANNABIS GROUP INC. -1.96% 0.25 Delayed Quote.0.00%
CANOPY GROWTH CORPORATION -2.38% 22.96 Delayed Quote.-24.90%
CRONOS GROUP INC. -3.46% 8.94 Delayed Quote.4.75%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 -0.27% 158.775 End-of-day quote.14.36%
HEXO CORP. -4.26% 4.72 Delayed Quote.5.57%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 -0.08% 123.95 End-of-day quote.9.12%
MINOR INTERNATIONAL PUBLIC COMPANY LIMITED -0.82% 30.25 End-of-day quote.17.48%
ORGANIGRAM HOLDINGS INC. -4.01% 3.11 Delayed Quote.91.72%
SUPREME CANNABIS 1.52% 0.335 End-of-day quote.112.90%
TESCO PLC -0.87% 233.35 Delayed Quote.0.84%
THAI BEVERAGE PUBLIC COMPANY LIMITED 3.10% 0.665 End-of-day quote.-9.52%
THAI UNION GROUP PUBLIC COMPANY LIMITED 0.89% 22.7 End-of-day quote.66.91%
THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD. -4.62% 0.31 Delayed Quote.38.30%
TILRAY, INC. -5.59% 16.55 End-of-day quote.88.07%
TILRAY, INC. -2.04% 13.96 Delayed Quote.69.01%
All news about THAI UNION GROUP PUBLIC COMPANY LIMITED
07/21THAI UNION : Launches Thailand's First Sustainability-Linked Bond
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07/08THAI UNION : invests in cell-cultivated meat producer Aleph Farms
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07/05THAI UNION : donates more than 35,000 cans of Bellota and Marvo pet food in June..
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06/28THAI UNION : and V Foods Sign MoU to Expand their Plant-Based Food Businesses
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06/17THAI UNION : Dr. Darian McBain Recognized as SDG Pioneer for a Sustainable Ocean..
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06/09THAI UNION : Corporate Venture Fund Expands Into Biotechnology; Invests in RNA-b..
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06/09ViAqua Therapeutics Ltd announced that it has received $4.3 million in fundin..
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06/07Thai Union FeedMill Co., Ltd. has filed an IPO.
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06/01THAI UNION : Establishment of a new company in Japan - Japan Pet Nutrition Co., ..
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05/25THAI UNION : Releases 8th Annual Sustainability Report
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More news
Financials
Sales 2021 136 B 4 111 M 4 111 M
Net income 2021 6 951 M 210 M 210 M
Net Debt 2021 50 730 M 1 531 M 1 531 M
P/E ratio 2021 15,8x
Yield 2021 3,51%
Capitalization 106 B 3 189 M 3 189 M
EV / Sales 2021 1,15x
EV / Sales 2022 1,09x
Nbr of Employees -
Free-Float 67,9%
Chart THAI UNION GROUP PUBLIC COMPANY LIMITED
Duration : Period :
Thai Union Group Public Company Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 22,70 THB
Average target price 22,42 THB
Spread / Average Target -1,23%
EPS Revisions
Managers and Directors
Thiraphong Chansiri President, Chief Executive Officer & Director
Ludovic Regis Henri Garnier Chief Financial Officer
Kraisorn Chansiri Chairman
Thamnoon Ananthothai Independent Director
Kirati Assakul Independent Director
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