Thai Union Group Public Company
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Thai Union Group Public Company (TU) investor relations material

Thai Union Group Public Company Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary19 Feb, 2026

Executive summary

  • Achieved record-high gross profit margin of 18.9% for 2025, despite FX headwinds and new U.S. tariffs impacting results, supported by resilient execution and cost discipline.

  • Revenue declined 4.1% year-on-year to THB 132,719mn, but sales volume grew 2.5% to 900,000 tons, driven by Frozen, Feed, and Pet Care segments.

  • Net income declined year-on-year, but EPS increased 7.2% to ฿1.16 per share, supported by share repurchases and consistent dividend policy.

  • Transformation and restructuring programs exceeded savings targets, with Sonar delivering $20M in 2025 and further cost initiatives planned for 2026.

  • Maintained strong sustainability and ESG rankings, including S&P Global top 1% and upgrades from FTSE Russell and CDP.

Financial highlights

  • FY25 sales declined 4.1% YoY to THB 132,719mn, with Q4 revenue at ฿35B; sales volume grew 2.5% YoY.

  • Gross profit margin reached a record 18.9% for 2025; Q4 gross margin at 18.3%.

  • Adjusted net profit declined 3.1% YoY to THB 5,508mn; net profit attributable to owners was THB 4,609.4mn.

  • Net debt increased to THB 61bn, mainly due to higher inventories, share buybacks, and dividends; ND/E ratio at 1.18x.

  • Cost of debt decreased from 3.65% to 3.31%.

Outlook and guidance

  • Targeting 3–4% revenue growth in 2026, with strong contributions expected from Pet Care, Retail, and Feed.

  • Gross profit margin guidance for 2026 is 19–20%, with improvement expected across all categories.

  • CapEx guidance for 2026 is ฿5.5–6B, including new investments in Feedmill Ecuador and office acquisition.

  • Net debt to equity targeted to return to 1.1 by end-2026; net debt to EBITDA to improve to 4.4–4.5x.

  • Dividend policy remains at not less than 50% payout, with a proposed final dividend of ฿0.35 per share for 2025.

How will TU reduce net debt to target 1.1?
US tariff impact on 2026 profitability?
TFM's 2026 market share growth strategy
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Frequently asked questions

Thai Union Group Public Company Limited is a global seafood company engaged in the production, processing, and distribution of seafood products. The company offers a wide range of canned, frozen, and chilled seafood, including tuna, shrimp, salmon, and other marine products. It serves retail, foodservice, and industrial customers worldwide through its portfolio of brands and private-label manufacturing. The company is headquartered in Samut Sakhon, Thailand, and its shares are listed on the Stock Exchange of Thailand (SET).

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