Chumporn Palm Oil Industry (CPI) Q4 2024 earnings summary

Executive summary

• Net profit for 2024 was THB 320.59 million, up 111.99% year-over-year, with EBITDA at THB 592.31 million, a THB 203.90 million increase from 2023.

• Revenue from sales and services was THB 5,192.90 million, down 1.19% from 2023, due to higher average selling prices but lower sales volume.

• Gross profit margin improved to 14.74% from 11.01% in 2023, driven by a decline in average raw material costs.

• The company maintained strong liquidity, with a current ratio rising to 1.24 and a debt-to-equity ratio reduced to 0.38.

• Dividend payout ratio for 2024 is 43.42%, with a proposed dividend of THB 0.22 per share pending AGM approval.

Financial highlights

• Net profit: THB 320.59 million (2024), up from THB 151.23 million (2023).

• EBITDA: THB 592.31 million (2024), up from THB 388.41 million (2023).

• Revenue: THB 5,192.90 million (2024), down 1.19% year-over-year.

• Gross profit margin: 14.74% (2024) vs. 11.01% (2023).

• Return on equity (ROE): 11.09% (2024), up from 5.73% (2023).

• Return on assets (ROA): 9.45% (2024), up from 4.47% (2023).

• Debt-to-equity ratio: 0.38 (2024), down from 0.70 (2023).

• Interest coverage ratio: 9.80 (2024), up from 4.08 (2023).

Outlook and guidance

• The palm oil industry in 2025 will depend on effective management of production, exports, and market adaptation amid global supply changes and price competition.

• The company plans to expand palm fruit collection points, invest in biomass/biogas power, and enhance production capacity by 2027.

• Focus on health-oriented product launches and continued rebranding of the Leela brand.