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Process Industries

Charoen Pokphand Foods Public Co. Ltd.

Company Background

Charoen Pokphand Foods is the core agribusiness arm of Thailand's largest conglomerate, Charoen Pokphand Group, with sales accounting for about 30% of the group's revenue.

Its main businesses are animal feed, shrimp farming and livestock farming. It also operates restaurants, food courts and retailers, such as CP Fresh Mart, a small supermarket that sells CP products.

The company's roots date back to the 1920s, when the founders started a small seed shop in Bangkok. They then expanded the business into animal feed production and later livestock farming, processing, marketing and distribution.

CP Foods has subsidiaries in nearly 20 countries and exports to more than 40. In 2012, it acquired CP Pokphand, which is in charge of agribusiness operations in China and Vietnam, from CP Group and made it a subsidiary. In 2014, it sold 25% of CPP's stake to Japanese trading house Itochu as part of a cross-shareholding deal between Itochu and CP Group.

CP Group and CP Foods Chairman Dhanin Chearavanont took over from his father in 1969. Adirek Sripratak, the company's chief executive officer since 2003, is not from the founding family.

Business Summary

Charoen Pokphand Foods Public Co. Ltd. engages in the operation of agro-industrial and food businesses. It operates through the Livestock and Aquaculture Business segments. The Livestock Business segment comprises of chicken, ducks, and pigs. The Aquaculture Business segment consists of shrimp and fish. Its products include animal feed, animal farm products, and processed food and ready meals. The company was founded on January 17, 1978 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2019 THBUSD
Revenue532,573.46M17,155.00M
Gross Profit76,304.15M2,457.87M
Operating income21,907.03M705.65M
Income before tax20,650.31M665.17M
Net income17,855.80M575.16M
EBITDA44,942.77M1,447.67M
Diluted EPS2.180.07
Dividends Per Share0.700.02
Total Assets634,050.55M21,167.65M
Total liabilities430,178.16M14,361.41M
Total equity153,275.26M5,117.06M
Operating cash flow31,748.85M1,022.67M
Currency in THBCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 421,355M 464,464M 501,507.49M 541,937.39M 532,573.46M
Gross Profit 55,375M 70,039M 57,052.94M 62,636.19M 76,304.15M
Operating income 11,202M 27,502M 8,740.86M 14,036.46M 21,907.03M
Income before tax 14,807M 21,386M 10,165.91M 19,293.46M 20,650.31M
Net income 11,059M 14,703M 14,746.32M 14,931.47M 17,855.80M
EBITDA 22,708M 46,010M 29,989.54M 36,443.88M 44,942.77M
Diluted EPS 1.50 1.99 1.91 1.82 2.18
Dividends Per Share 0.75 0.95 0.75 0.65 0.70
Total Assets 494,263M 582,179M 593,496.94M 628,090.85M 634,050.55M
Total liabilities 320,538M 388,473M 381,855.09M 424,432.59M 430,178.16M
Total equity 116,365M 133,698M 153,015.19M 150,533.15M 153,275.26M
Operating cash flow 15,177M 24,679M 10,041.84M 7,501.38M 31,748.85M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 12,294.20M 13,164.86M 14,779.11M 16,764.10M 17,155.00M
Gross Profit 1,615.71M 1,985.20M 1,681.31M 1,937.56M 2,457.87M
Operating income 326.84M 779.52M 257.58M 434.19M 705.65M
Income before tax 432.03M 606.16M 299.58M 596.81M 665.17M
Net income 322.67M 416.74M 434.56M 461.88M 575.16M
EBITDA 662.56M 1,304.11M 883.77M 1,127.34M 1,447.67M
Diluted EPS 0.04 0.05 0.05 0.05 0.07
Dividends Per Share 0.02 0.02 0.02 0.02 0.02
Total Assets 13,735.25M 16,257.21M 18,211.01M 19,290.25M 21,167.65M
Total liabilities 8,907.54M 10,848.01M 11,716.94M 13,035.39M 14,361.41M
Total equity 3,233.70M 3,733.48M 4,695.15M 4,623.25M 5,117.06M
Operating cash flow 442.83M 699.50M 295.92M 232.04M 1,022.67M

Valuation Measures

Dec 2019
PER12.60
ROA2.82%
ROE11.75%
Operating margin4.11%
Profit margin3.35%

Key executives

  • CEO, Director, COO-Sausage & Ready Meal Business: Prasert Poongkumarn
  • Co-President, Director & CEO-Agro Business: Sooksunt Jiumjaiswanglerg
  • Co-President, Director & CEO-Food Business: Sukhawat Dansermsuk
  • Chief Financial Officer & Executive Director: Paisan Chirakitcharern
  • EVP-Information Technology & Application Unit: Praderm Chotsuparach

Shareholders

  • CHEARAVANONT FAMILY (38.6%)
  • Jumbo Kingdom Ventures Ltd. (10.6%)
  • Charoen Pokphand Foods Public Co. Ltd. (4.0%)
  • GIC Pte Ltd. (Investment Management) (3.5%)
  • Social Security Office of Thailand (2.4%)
  • TIEANWORN PRINYA (0.6%)
  • TMB Asset Management Co., Ltd. (0.6%)
  • TOBAM SAS (0.2%)
  • Causeway Capital Management LLC (0.2%)
  • Bonafide Wealth Management AG (Liechtenstein) (0.1%)

Contact Details

Related Companies

  • Charoen Pokphand Foods Canada, Inc.
  • C.P. Aquaculture (Zhanjiang) Co., Ltd.
  • Zhangzhou C.P. Chia Tai Aquaculture Co., Ltd.
  • Charoen Pokphand Intertrade Singapore (Pte) Ltd.
  • Severnaya Poultry Farm OJSC
  • Charoen Pokphand Holdings (Malaysia) Sdn. Bhd.
  • Cpf Netherlands BV
  • C.P. Food Products Co. Ltd.
  • Chia Tai Enterprises International Limited
  • Chia Tai Feed (Yushu) Co. Ltd.
  • CP Foods International Ltd.
  • C.P. Foods Holdings Ltd.
  • Charoen Pokphand Foods Kenya Co., Ltd.
  • Chia Tai Group Co., Ltd.
  • HyLife Ltd.
  • CPF (Thailand) Public Co. Ltd.
  • Hsin Chung Holdings Ltd.
  • Pai Shih Investment Ltd.
  • Charoen Pokphand Foods (Malaysia) Sdn. Bhd.
  • CPF Tokyo Co., Ltd.
  • CPF Denamrk A/S
  • Seafoods Enterprise Co. Ltd.
  • International Pet Food Co., Ltd.
  • BP Food Products Co. Ltd.
  • Charoen Pokphand Foods Philippines Corp.
  • CP Laos Co. Ltd.
  • CPF Training Center Co. Ltd.
  • C.P. Aquaculture (Dongfang) Co., Ltd.
  • C.P. Aquaculture (Beihai) Co., Ltd.
  • Seafood Enterprises Co.

Competitors

  • San Miguel Food & Beverage, Inc.
  • Top Frontier Investment Holdings, Inc.
  • San Miguel Corp.
  • Vitarich Corp.
Last Updated on 28 Oct, 2020

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