CP AXTRA Reports Strong 3Q24 Performance: Net Profit of 2,410* Million Baht, Up 45%* YoY Driven by Robust Growth in Omni Channel Sales Participation Targets Sustained Revenue and Profit Growth
Bangkok, 7 November 2024 – CP AXTRA Public Company Limited (The Company or CPAXT), an operator of leading wholesaler and retailer, Makro and Lotus’s, has announced operating results for 3Q24 with total revenue of 124,441 million baht, rising 4.1% and a net profit of 1,952 million baht, rising 16.4%. Adjusted net profit stood at 2,410* million baht, a 45.3%* increase YoY. The performance was driven by the growth in sales and gross profit margin across wholesale and retail segments, particularly in fresh food products and "omni channel" sales, which have grown steadily above target with a 19% share of total sales volume. CPAXT recorded a total revenue of 378,416 million baht and a net profit of 6,609 million baht in the first nine months of 2024, rising 4.7% and 23.3% YoY, respectively. In addition, revenue growth from store expansion also contributed significantly, with 43 new store openings, the ongoing refurbishments of existing locations, and the continuous mall development, reflecting strategic achievements as planned.
Mr. Tanin Buranamanit, Group Chief Executive Officer, CP AXTRA Public Company Limited, stated that the Company remains committed to sustaining growth by focusing on the following core strategies:
- Strengthening in the fresh food segment: CPAXT will enhance its fresh food offerings by focusing on product selection, differentiation, and diversification while emphasizing value for money. The Company will further develop ready-to-cook and ready-to-eat meals, bakery items, and private-label products, all of which offer a strong gross profit margin.
- Enhancing all sales channels, with a focus on omni channel and delivery: CPAXT aims to expand its service areas by leveraging its extensive nationwide network of around 2,600 wholesale and retail stores. The Company will also establish dedicated B2B sales team to deliver comprehensive services to enterprise customers.
- Expansion of new stores, store refurbishment, and mall development: CPAXT transforms into smart community centers, that promote smart living for people of all ages. Recently, the Company opened Lotus’s Yala, the first hypermarket in Thailand’s deep south. CPAXT has also introduced hybrid stores that integrate retail and wholesale operations, including Makro and Lotus’s Malls in Chainat and on Si Ayutthaya Road. Existing stores are also being refurbished to provide an enhanced shopping experience for both enterprise and individual customers.
By aligning its strategies and marketing activities with Thailand’s economic growth and tourism recovery, CPAXT expects to see benefits in its HoReCa (Hotel, Restaurant, and Catering) business. In addition, government economic stimulus measures are contributing to CPAXT’s growth trajectory.
CPAXT’s commitment to sustainability and responsible business practices alongside Thai society has been recognized through several prestigious awards, including the IAA Awards for Listed Companies 2024 for Outstanding CEO, Outstanding CFO, and Outstanding Investor Relations. Additionally, CPAXT received the MEA Energy Award for the 7th consecutive year from the Metropolitan Electricity Authority in the Energy-Efficient Buildings category for its hypermarkets and convenience stores, underscoring CPAXT’s efficient energy management to achieve carbon neutrality by 2030.
* Normalized net profit after adjusting transactions of loss from the exchange rate and expenses related to amalgamation
