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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 operates through the following business operations: Convenience Stores, Cash and Carry, and Others. The Convenience Store business operation operates 7-Eleven. The Cash and Carry business operation operates under Makro. 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 2021 THBUSD
Revenue565,207.28M17,653.77M
Gross Profit120,368.84M3,759.61M
Operating income4,250.98M132.77M
Income before tax12,803.85M399.91M
Net income11,985.47M374.35M
EBITDA27,988.98M874.21M
Diluted EPS1.330.04
Dividends Per Share0.600.01
Total Assets931,892.56M27,896.79M
Total liabilities658,996.56M19,727.48M
Total equity84,222.89M2,521.26M
Operating cash flow36,886.81M1,152.12M
Currency in THBCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 471,069.22M 508,212.33M 550,900.78M 525,884.31M 565,207.28M
Gross Profit 97,009.93M 113,580.60M 124,837.62M 115,004.29M 120,368.84M
Operating income 13,165.20M 13,385.47M 13,275.56M 7,146.09M 4,250.98M
Income before tax 23,506.08M 25,151.70M 26,763.85M 19,325.77M 12,803.85M
Net income 19,226.70M 19,929.65M 21,343.08M 15,099.41M 11,985.47M
EBITDA 22,442.20M 23,530.47M 24,188.56M 27,795.09M 27,988.98M
Diluted EPS 2.14 2.21 2.37 1.68 1.33
Dividends Per Share 1.10 1.20 1.25 0.90 0.60
Total Assets 360,298.56M 373,741.61M 375,617.45M 523,354.32M 931,892.56M
Total liabilities 299,978.93M 293,832.08M 287,158.81M 431,668.45M 658,996.56M
Total equity 55,423.76M 64,921.64M 73,829.70M 76,849.58M 84,222.89M
Operating cash flow 37,601.54M 33,308.69M 33,091.49M 31,368.05M 36,886.81M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 13,882.11M 15,720.86M 17,745.35M 16,804.02M 17,653.77M
Gross Profit 2,858.82M 3,513.46M 4,021.21M 3,674.82M 3,759.61M
Operating income 387.97M 414.06M 427.62M 228.34M 132.77M
Income before tax 692.70M 778.03M 862.10M 617.53M 399.91M
Net income 566.59M 616.49M 687.49M 482.48M 374.35M
EBITDA 661.35M 727.88M 779.15M 888.16M 874.21M
Diluted EPS 0.06 0.06 0.07 0.05 0.04
Dividends Per Share 0.03 0.03 0.04 0.02 0.01
Total Assets 11,055.49M 11,478.55M 12,539.91M 17,468.43M 27,896.79M
Total liabilities 9,204.63M 9,024.32M 9,586.73M 14,408.15M 19,727.48M
Total equity 1,700.63M 1,993.90M 2,464.78M 2,565.07M 2,521.26M
Operating cash flow 1,108.09M 1,030.35M 1,065.92M 1,002.33M 1,152.12M

Valuation Measures

Dec 2021
PER44.22
ROA1.64%
ROE14.88%
Operating margin0.75%
Profit margin2.12%

Key executives

  • Chief Executive Officer: Yuthasak Poomsurakul
  • Senior Vice President-Operation: Thupthep Jiraadisawong
  • Chief Finance Officer, SVP-Accounting & Finance: Kriengchai Boonpoapichart
  • Vice President-Information Technology: Wiwat Pongritsakda
  • Head-Compliance Unit: Arthit Paladja

Shareholders

  • Charoen Pokphand Foods Public Co. Ltd. (34.1%)
  • CHEARAVANONT FAMILY (3.0%)
  • GIC Pte Ltd. (Investment Management) (2.6%)
  • Social Security Office of Thailand (2.6%)
  • Sands Capital Management LLC (1.4%)
  • Norges Bank Investment Management (1.3%)
  • TIEANWORN PRINYA (1.1%)
  • Krungsri Asset Management Co., Ltd. (0.6%)
  • TMB Asset Management Co., Ltd. (0.3%)
  • Jumbo Kingdom Ltd. (0.2%)

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

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Competitors

  • Tesco PLC
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Last Updated on 11 Aug, 2022

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