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Retail Trade

CP All Public Co. Ltd.

Company Background

CP All operates 7-Eleven convenience stores in Thailand. Opening its first store in 1989, it has expanded the chain's reach in Thailand to become the world's third largest 7-Eleven network after Japan and the U.S. It operates around 8,000 outlets. It aims to have 10,000 stores serving customers by 2017.

Conglomerate Charoen Pokphand Group, led by ethnic Chinese billionaire Dhanin Chearavanont, and its subsidiaries are the major shareholders in CP All, controlling a combined stake of around 42%.

Dhanin chairs the board of directors, but everyday operations are in the hands of Vice Chairman Korsak Chairasmisak and CEO Tanin Buranamanit. Neither Korsak nor Tanin are related to the Chearavanont family.

Korsak started his career at the Thai arm of a German chemical company, Hoechst, but joined CP as a feed ingredient purchasing manager in 1973. He has been with the group ever since. He is also CP Group vice chairman. Tanin took over the CEO post of CP All from Korsak in 2013. Tanin has been with CP All for more than a decade, mainly in the field of marketing.

In 2013, CP All acquired discount retailer Siam Makro for about $5.8 billion -- the biggest corporate takeover by a Thai company ever.

Business Summary

CP All Public Co. Ltd. engages in the operation of convenience stores under the 7-Eleven trademark. It involves in the bill payment services business; distribution and repair of retail equipment; and manufacture and sale of frozen food and bakery. The company operates through the following segments: Convenience Stores, Cash and Carry and Others. The Others segment includes bill payment services, frozen food plant and bakery, and distributor of retailing equipment and educational institutions. CP All Public was founded in 1988 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2019 THBUSD
Revenue550,900.78M17,745.35M
Gross Profit124,837.62M4,021.21M
Operating income13,275.56M427.62M
Income before tax26,763.85M862.10M
Net income21,343.08M687.49M
EBITDA24,188.56M779.15M
Diluted EPS2.370.07
Dividends Per Share1.250.04
Total Assets375,617.45M12,539.91M
Total liabilities287,158.81M9,586.73M
Total equity73,829.70M2,464.78M
Operating cash flow33,091.49M1,065.92M
Currency in THBCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 391,817M 434,711.87M 471,069.22M 508,212.33M 550,900.78M
Gross Profit 79,100M 87,962.82M 97,009.93M 113,580.60M 124,837.62M
Operating income 11,443M 11,357.77M 13,165.20M 13,385.47M 13,275.56M
Income before tax 16,884M 20,142.42M 23,506.08M 25,151.70M 26,763.85M
Net income 13,682M 16,632.51M 19,226.70M 19,929.65M 21,343.08M
EBITDA 18,558M 19,399.77M 22,442.20M 23,530.47M 24,188.56M
Diluted EPS 1.52 1.85 2.14 2.21 2.37
Dividends Per Share 0.90 1 1.10 1.20 1.25
Total Assets 329,083M 352,268.05M 360,298.56M 373,741.61M 375,617.45M
Total liabilities 287,408M 302,617.77M 299,978.93M 293,832.08M 287,158.81M
Total equity 37,349M 45,243.24M 55,423.76M 64,921.64M 73,829.70M
Operating cash flow 23,294M 29,876.68M 37,601.54M 33,308.69M 33,091.49M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 11,432.35M 12,321.56M 13,882.11M 15,720.86M 17,745.35M
Gross Profit 2,307.96M 2,493.23M 2,858.82M 3,513.46M 4,021.21M
Operating income 333.88M 321.92M 387.97M 414.06M 427.62M
Income before tax 492.63M 570.92M 692.70M 778.03M 862.10M
Net income 399.21M 471.43M 566.59M 616.49M 687.49M
EBITDA 541.48M 549.87M 661.35M 727.88M 779.15M
Diluted EPS 0.04 0.05 0.06 0.06 0.07
Dividends Per Share 0.02 0.02 0.03 0.03 0.04
Total Assets 9,145.00M 9,837.00M 11,055.49M 11,478.55M 12,539.91M
Total liabilities 7,986.88M 8,450.53M 9,204.63M 9,024.32M 9,586.73M
Total equity 1,037.90M 1,263.40M 1,700.63M 1,993.90M 2,464.78M
Operating cash flow 679.66M 846.83M 1,108.09M 1,030.35M 1,065.92M

Valuation Measures

Dec 2019
PER30.40
ROA5.69%
ROE30.76%
Operating margin2.40%
Profit margin3.87%

Key executives

  • Chief Executive Officer, Executive Director & MD: Tanin Buranamanit
  • Senior Vice President-Operations: Chairoj Tiwatmuncharoen
  • Senior Vice President-Accounting & Finance: Taweesak Kaewrathtanapattama
  • Senior Vice President-Information Technology: Kosa Pongsupath
  • Head-Compliance Officer: Narongsak Poomsrisaard

Shareholders

  • Charoen Pokphand Foods Public Co. Ltd. (33.1%)
  • CHEARAVANONT FAMILY (2.5%)
  • Social Security Office of Thailand (2.0%)
  • GIC Pte Ltd. (Investment Management) (1.7%)
  • TIEANWORN PRINYA (1.1%)
  • Sands Capital Management LLC (1.0%)
  • Norges Bank Investment Management (0.9%)
  • OSATHANUGRAH NITI (0.8%)
  • AIA Co., Ltd. (Invt Port Thailand) (0.7%)
  • APG Asset Management NV (0.5%)

Contact Details

  • Website:http://www.cpall.co.th
  • Address: 313 C. P. Tower, Silom Road, Kwang Silom, Bangkok, 10500, Thailand
  • Phone: +66.2.826.7744

Related Companies

  • All Corp. Co. Ltd.
  • All Training Co. Ltd.
  • Panyatara Co. Ltd.
  • Suksapiwat Co. Ltd.
  • Dynamic Management Co. Ltd.
  • Mam Heart Co., Ltd.
  • CP Retailink Co., Ltd.
  • Lotus Distribution Investment Ltd.

Competitors

  • Tesco PLC
  • FamilyMart Co., Ltd.
  • Berli Jucker Public Co. Ltd.
Last Updated on 27 Oct, 2020

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