GFPT Public Company (GFPT) Q4 2024 earnings summary

Executive summary

• FY2024 consolidated revenue reached THB 19.31 billion, up 1.77% year-over-year, with food segment contributing nearly half of total sales.

• Net profit attributable to shareholders rose 43.39% year-over-year to THB 1.97 billion, driven by higher export volumes and improved margins.

• The group maintained its position as the 2nd largest chicken exporter in Thailand, with 13% export market share and 6% of national production.

Financial highlights

• Gross profit increased 22.44% year-over-year to THB 2.67 billion, with margin improving from 11.48% to 13.82%.

• EBITDA rose 26.87% to THB 4.06 billion, and EBIT grew 40.75% to THB 2.37 billion.

• EPS for FY2024 was THB 1.63, up from THB 1.10 in FY2023.

• Total assets increased 3.88% to THB 26.32 billion, with equity up 9.89% to THB 19.49 billion.

• Interest-bearing debt stood at THB 4.43 billion, with a debt-to-equity ratio of 0.35x and debt/EBITDA at 1.09x.

Outlook and guidance

• FY2025 revenue expected to grow 2–3% from FY2024.

• Gross profit margin guidance at 13–14%, SG&A at 8–8.5% of sales, and effective tax rate at 10–15%.

• Planned CAPEX for FY2025 is THB 1–1.2 billion, focusing on broiler and breeder farms and primary plant expansion.