CP ALL Public Company (CPALL) Q3 2026 earnings summary

Executive summary

• 3Q26 total consolidated revenue rose 4.5% YoY to Bt262,011m; profit attributable to equity holders fell 6.6% to Bt6,161.881m as EBIT margin narrowed.

• Standalone 3Q26 revenue increased 6.9% YoY to Bt131,177m and net profit rose 22.4% to Bt6,366m.

• 9M26 total consolidated revenue rose 4.7% YoY to Bt795,443m and profit attributable to equity holders increased 8.8% to Bt22,791.616m.

Financial highlights

• Q3 revenue from goods and services was Bt252,925,429 thousand versus Bt242,599,441 thousand; consolidated profit was Bt5,851,068 thousand versus Bt7,320,674 thousand.

• Consolidated 3Q26 gross margin was 23.1%, up 30 bps YoY; EBIT margin was 4.1%, down 90 bps.

• Consolidated 3Q26 EBIT declined 13.0% YoY to Bt10,837m and EBITDA declined 6.7% to Bt20,542m; SG&A increased 7.8% to Bt54,970m.

• 9M revenue from goods and services was Bt769,378,860 thousand versus Bt737,262,696 thousand; consolidated profit was Bt24,250,282 thousand versus Bt23,616,921 thousand.

• Q3 basic EPS was Bt0.68 versus Bt0.73; 9M basic EPS was Bt2.52 versus Bt2.30.

Segment performance

• 9M26 revenue contribution before eliminations: CVS 47%, Makro 26%, Lotus’s 21% and Others 6%.

• 9M26 EBIT contribution before eliminations: CVS 70%, Makro 12%, Lotus’s 7% and Others 11%; includes minority interests and ~60% ownership of CPAXT.

• 9M convenience-store revenue was Bt368,082m versus Bt348,316m; segment profit before finance costs and tax was Bt34,189m versus Bt30,327m.

• 9M wholesale revenue was Bt220,050m versus Bt210,113m, with segment profit of Bt5,686m versus Bt5,816m; retail and mall revenue was Bt176,162m versus Bt174,110m, with profit of Bt3,669m versus Bt6,807m.