Vietnam market feeds Thai food giant CPF $3.61 bln in 2022 revenue

Thailand’s Charoen Pokphand Foods Public Company Limited (CPF) recorded revenue of THB124.634 billion ($3.61 billion) from its Vietnam operations (CP Vietnam) in 2022, up 12% year-on-year, according to a company report.

By sector, livestock accounted for THB103.8 billion ($3.01 billion), up 14% year-on-year; while the aquaculture figure was THB20.83 billion ($603.37 million), up 5%.

In terms of products, the farming business, including animal breeding, live animals and processed meat and eggs was the biggest cash earner with THB79 billion ($2.29 billion), up 9% year-on-year; followed by animal feed with THB37.875 billion ($1.1 billion), up 15%; and food with THB7.76 billion ($224.78 million), up 33%.

As a result, Vietnam was the second-biggest revenue source for CPF last year, only after its home market with THB224.356 billion ($6.5 billion), up 19% year-on-year.

Another major market was China with revenue of THB36.794 billion ($1.07 billion), up 21% year-on-year. Thailand, Vietnam, and China accounted for 63% of CPF's total sales revenue year, of which Vietnam’s made up 20.3%.

Overall, CPF earned a post-tax profit of THB13.97 billion ($404.66 million) last year, up 7% year-on-year, on a revenue of THB614.197 billion ($17.79 billion), up 20%.