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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.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.
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