Wholesale business under the brand name "Makro" and retail business under the brand name "Lotus's" and mall management
| 2024 | 2023 | 2022 | 2021 |
|---|
| Revenues | 512,042.00 | 489,949.00 | 469,131.00 | |
| Expenses | 493,409.00 | 473,242.00 | 452,429.00 | |
| Net Profit (Loss) | 10,569.00 | 8,640.00 | 7,697.00 |
| Assets | 546,531.00 | 540,371.00 | 548,643.00 | |
| Liabilities | 247,914.00 | 246,899.00 | 257,712.00 | |
| Shareholders' Equity | 297,674.00 | 292,918.00 | 290,348.00 |
| Operating | 24,162.00 | 34,863.00 | 22,014.00 | |
| Investing | -16,816.00 | -14,239.00 | -17,164.00 | |
| Financing | -19,645.00 | -28,552.00 | -32,955.00 |
| EPS (Baht) | 1.61 | 0.82 | 0.73 | |
| GP Margin (%) | 14.40 | 13.80 | 14.20 | |
| NP Margin (%) | 2.10 | 1.80 | 1.60 | |
| D/E Ratio (x) | 0.80 | 0.80 | 0.90 | |
| ROE (%) | 3.60 | 3.00 | 2.70 | |
| ROA (%) | 1.90 | 1.60 | 1.40 |
Show the net profit and the shareholders' equity attributable to owners of the parent
EPS for 2024 was calculated from the profit attributable to owners of the parent company and the weighted average no. of shares, with the new par value of 1.0 Baht/share. EPS for 2022 - 2023 was calculated similarly, with a former par value of 0.5 Baht/share.
The Company sets growth targets across all dimensions, focusing on expanding all store format and enhancing Omni Channel efficiency, by leveraging AI and data insights to attract customers and delivery services across 2,600+ stores nationwide.
The Company develops shopping malls to smart community centers, refurbishing stores in prime areas to boost rental income and strengthen competitiveness.
To drive sustainable growth in sales and gross profit, the Company offers high-quality products at value-for-money prices, increasing the product mix under its owned brand and exclusive brands to reinforce market positioning, and integrating data analytic allows the Company to accurately understand customer needs.
The Company adheres to sustainability goals, aligned with key stakeholder priorities, the CP Group’s sustainability framework, and the UNSDGs, with the following approaches:
· Environmental: Focuses on reducing environmental impacts with goals of zero food waste to landfill and carbon neutrality by 2030, and net-zero greenhouse gas emissions by 2050.
· Social: creates economic value for communities, enhances job creation and income, and reduces social inequality by supporting 400,000 jobs by 2030, and promoting access to safe and nutritious food, along with partnering to build long-term social value.
· Governance: Aims to establish efficient internal operations in compliance with laws, regulations, and standards, upholding ethical business practices with a risk management system and anti-corruption measures at all levels, building trust with all stakeholders, and proactively addressing cybersecurity threats.
Total Revenue: Increased by 4.5% to 512,042 million Baht, driven by a 4.9% growth in revenue from sale of goods, particularly fresh food, while revenue from rental and rendering retail services slightly increased from the previous year.
- Wholesale business: Revenue amounted to 279,483 million Baht, an increase of 5.0%, driven by a 2.8% same-store-sales-growth, particularly from Omni Channel sales and the new store openings in 2024.
- Retail business: Revenue amounted to 232,559 million Baht, an increase of 3.9%, with same-store sales growing by 3.6%. This was a result of the strategy focusing on fresh food sales and expanding online sales channels.
Gross profit from sales: Increased by 9.1% to 70,213 million Baht, with improvements in both wholesale and retail business segments. The gross profit margin was 14.4%, up 60 bps YoY.
Net profit attributable to owners of the parent: Increased by 22.3% to 10,569 million Baht, driven by sales and gross profit growth across all business segments, as well as reduced finance costs from debt restructuring.
· On 1 April 2024, CPAXT (before the amalgamation) accepted the transfer of entire business (EBT) of Lotus’s Thailand.
· On 23 September 2024, the shareholder’s meeting between CPAXT (before the amalgamation) and Ek-Chai considered to approve for the necessary actions for the Amalgamation.
· On 1 October 2024, CPAXT (before the amalgamation) and Ek-Chai registered the registration of the Amalgamation with the public companies’ registrar. The newly amalgamated company was then relisted on the SET under the trading symbol “CPAXT”.
For more details can be found in the One report section 1.1.2 Material changes and developments.
The Company faces various risks in wholesale and retail, including price fluctuations, competition in pricing and services, increasing consumer shift to online shopping, and food safety and product quality concerns. To manage these risks, the Company adopts the COSO international standards across its enterprise-wide risk management processes, including the establishment of policies, objectives, risk management frameworks, and governance structures that align with these globally recognized standards.
Key risk management approaches include:
· Strategic Risk: Organizing workshops to set strategic goals, plan key projects supporting growth, and develop new business models that meet changing customer needs.
· Liquidity Risk: Continuously monitoring financial status, managing working capital and debt, and setting up credit lines to mitigate financial fluctuations.
· Food Safety and Product Quality Risk: Adhering to international standards like HACCP and GMP, using the "i-Trace" system for product traceability, and collaborating with government agencies for health monitoring to manage food safety crises.
For more details can be found in the One report section 2 Risk Management
| as of 30/12/24 | CPAXT | COMM | SET |
|---|---|---|---|
| P/E (X) | 28.71 | 23.61 | 19.33 |
| P/BV (X) | - | 2.85 | 1.40 |
| Dividend yield (%) | - | 1.90 | 3.23 |
| 30/12/24 | - | - | |
|---|---|---|---|
| Market Cap (MB) | 284,153.78 | N/A | N/A |
| Price (B/Share) | 27.25 | N/A | N/A |
| P/E (X) | 28.71 | N/A | N/A |
| P/BV (X) | - | N/A | N/A |
