Chumporn Palm Oil Industry (CPI) Q2 2024 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2024 was Baht 2,786 million, up from Baht 2,602 million year-over-year.

• Net profit for the six-month period was Baht 127 million, compared to Baht 110 million for the same period last year.

• The palm oil products segment remains the primary revenue driver, with one major customer accounting for Baht 461 million in sales in the first half.

Financial highlights

• Three-month revenue ended 30 June 2024 was Baht 1,549 million, up from Baht 1,240 million year-over-year.

• Three-month net profit was Baht 130 million, compared to Baht 35 million for the same quarter last year.

• Gross margin improved as cost of sales increased at a slower rate than revenue.

• Basic earnings per share for the six-month period was Baht 0.20, up from Baht 0.17 year-over-year.

• Cash and cash equivalents increased to Baht 102 million as of 30 June 2024, from Baht 72 million at year-end 2023.

Outlook and guidance

• The company has commitments for sales agreements totaling Baht 220 million for delivery in the second half of 2024.

• No changes in shareholding structure or accounting policies; revised standards effective 2024 had no significant impact.