Mr. Akamon Prasoppolsujarit, Chief Financial Officer of Asian Sea Corporation Public Company Limited (SET: ASIAN), stated that the company is lowering its 2025 revenue target from THB 11.36 billion to THB 10.21 billion. This is compared to a THB 10.78 billion in revenue the company generated in 2024. For the first half of this year, the company achieved a revenue of THB 5.26 billion.
The adjustment of this year’s revenue target is due to the downward revision in ASIAN’s four businesses. The new estimation for the pet food business represents a 5.6% drop from earlier projection to THB 6.34 billion in revenue. Meanwhile, revenue in the tuna business was cut by 18% from the previous projection to THB 733 million.
In the aqua feed business, ASIAN is estimated to generate revenue of THB 787 million, an 11.7% decrease from the original goal of THB 984 million. Finally, in the frozen seafood businesses, the company plans to achieve a revenue of THB 2.34 billion, a 22.7% decrease from the original goal of THB 2.92 billion.
ASIAN’s pet food business continues to stand out as a key driver, achieve a stable performance, and contributed more than half of the company’s total revenue. Its tuna, aqua feed and frozen seafood businesses, however, got their target revenues reduced due to the challenges in domestic and international markets, reflecting the need of caution in the 2H25 business operation.
As for ASIAN’s performance in the third quarter, the company estimated that the demand for its pet food would remain strong, but its business revenue is likely to decline from the previous quarter’s revenue of THB 1.54 billion. The company also speculated that its tuna business will generate revenue close to the second quarter’s revenue of THB 169 million due to the continued demand from the Middle East region.
Regarding the aqua feed business, ASIAN estimated that the third quarter’s revenue will surpass the second quarter’s revenue of THB 209 million due to seasonal factors that will generate high sales volume. Additionally, the company also speculated that its frozen seafood business will generate less than the previous quarter’s revenue of THB 655 million.
As for the real estate business, which is a joint venture with One Origin PCL (ONEO), a subsidiary of Origin Property PCL (SET: ORI), the development of villa & condominium project at Khao Yai was postponed due to slowdown activity in the market. The sales event before the official opening of the project is also suspended. Meanwhile, the condominium project at Si Racha district, Chonburi province also faced construction delays, leading to a postponement. These two projects will resume their operations once the market situation returns to normal.
