- 4Q2018 record quarterly sales of THB 36 billion driven by strong volume growth
- Continue operating recovery in 4Q2018 with 55.2 percent rise in operating profits year-on-year to THB 1.50 billion
- Very strong free cash flow performance prompted debt repayment of THB 3.5 billion during 2018
Workers at one of Thai Union's facilities in Samut Sakhon, Thailand. Cr. Thai Union
20 FEBRUARY 2019, BANGKOK – Thai Union Group PCL reported a 3.7 percent year-on-year rise for 4Q2018 sales to a record THB 36 billion. The 4Q2018 operating profit improved 55.2 percent year-on-year to THB 1.50 billion, the highest quarterly margin in two years. The Frozen, Chilled
Consolidated FY2018 sales declined 1.2 percent year-on-year to THB 133.28 billion due to the Thai baht's appreciation against the U.S. dollar. Excluding foreign currency impact, FY2018 sales would have increased by 0.5 percent year-on-year. FY2018 gross profit was down 2.2 percent year-on-year, due to material prices and foreign exchange rate volatility, mainly during 1Q18.
FY2018 Selling, General & Administration to sales ratio further reduced at 10.7 percent, as the company continued to focus on cost efficiencies with expenses down 1.2 percent year-on-year. FY2018 free cash flow came in at THB 8.40 billion, almost tripling FY2017, resulting in the company's debt payment of THB 3.5 billion.
"Despite challenging market conditions, we stayed firmly focused on operational excellence and profitability improvement. The good results from last quarter gives us confidence that 2019 will see a stronger and successful year," said Thiraphong Chansiri, CEO of Thai Union.
Thai Union announced a final dividend of THB 0.15 per share, making
Sales in North America continued to play an important role in the company's revenue, accounting for 39 percent of total sales, while Europe contributed 30 percent. Thailand's domestic market grew to 11 percent of total sales, with Asia Pacific, Middle East, Africa
In 2019, Thai Union targets to achieve
Thai Union continued to implement important initiatives last year in line with its sustainability strategy, SeaChange®, including joining the Global Ghost Gear Initiative to help reduce the growing problem of abandoned, lost and discarded fishing gear (ALDFG) worldwide.
In 2018, the company publicly reported on the substantial progress
The company's sustainability efforts were widely recognized. In 2018, Thai Union was ranked Number 1 in the world in the Food Products Industry in the Dow Jones Sustainability Index, and achieved 100th percentile ranking for total sustainability score. Thai Union has now been named to the DJSI for five consecutive years, reflecting its commitment to be a leading company globally in sustainability.
In addition, Thai Union was listed on the FTSE4Good Emerging Index for the third straight year; was highly commended in the Thomson Reuters Foundation Stop Slavery Award; received the Global Good Awards UK Gold Award for best Sustainable Supply Chain; awarded the Business Intelligence Group Sustainability Leadership of the Year; named FinanceAsia's best at Corporate Social Responsibility; and Dr. Darian McBain, Thai Union's Global Director of Corporate Affairs and Sustainability, was awarded Sustainability Leader of the Year at the prestigious
ABOUT THAI UNION GROUP
Thai Union Group PCL is the world's seafood leader bringing high quality, healthy, tasty and innovative seafood products to customers across the world for more than 40 years.
Today, Thai Union is regarded as the world's largest producer of shelf-stable tuna products with annual sales exceeding THB 135 billion (US$ 4.03 billion) and a global workforce of over 49,000 people who are dedicated to pioneering sustainable, innovative seafood products
As a company committed to innovation and globally responsible behavior, Thai Union is proud to be a member of the United Nations Global Compact, and a founding member of the International Seafood Sustainability Foundation (ISSF). In 2015, Thai Union introduced its SeaChange® sustainability strategy.
Thai Union's on-going work on sustainability issues was recognized by its inclusion in the Dow Jones Sustainability Index Emerging Markets (DJSI) in 2014. In 2018, Thai Union was named to the Dow Jones Sustainability Index for the fifth straight year, as well as rated No. 1 in the Food Products Industry. Thai Union is also part of the FTSE4Good Emerging Index and the winner of many awards for its leading work on sustainability
Head of External Communications – Corporate Communications Department
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