CPAXT Records Slight Increase in 3Q23 Earnings as Retail and Wholesale Continue to Grow

CP AXTRA PCL (CPAXT) reported its financial result on 8 November which details the following.

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
1,676.91 1,602.19
Earning Per Share
0.1600 0.1500
% Change 4.66
9 Months 2023 2022
Net Profit (Loss)
Million Baht
5,358.45 5,225.47
Earning Per Share (Baht) 0.5100 0.4900
% Change 2.54


In Q3 of 2023, CPAXT had a net profit of THB 1,677 million, an increase of THB 75 million or 4.7% YoY. With the exception of losses on disposal of assets from wholesale business in China in an amount of THB 39 million, the core profit in 3Q/2023 will be registered at THB 1,716 million or an increase of 7.1%.

CPAXT reported total revenues of THB 119,502 million, an increase of THB 3,841 million or 3.3% YoY. While revenue from sales of goods was THB 113,838 million, which rose by THB 3,676 million or 3.3% YoY.


The revenue from the retail business grew 1.0% YoY, and the revenue from wholesale business increased 5.3% YoY, from “Omni Channel” of Makro-Thailand as well as an expansion of Macro-International. Meanwhile, the proportion of Omni Channel of the CPAXT and its subsidiaries accounted for 13.6% of total sales.

In addition, CPAXT and its subsidiaries had revenues from rendering of services and other income of THB 2,070 million, an increase of THB 18 million or 0.9% YoY, primarily from an increase in service income for promotional activities.


Furthermore, CPAXT and its subsidiaries from rental and rendering retail services of

Baht 3,594 million, a surge of Baht 147 million or 4.3% YoY. This was mainly attributable to the retail business, which increased revenue of Baht 135 million or 4.1% YoY.


As for the costs, CPAXT and its subsidiaries recorded distribution costs and administrative expenses of Baht 16,263 million in 3Q/2023, representing 13.6% of total revenues, which increased by Baht 130 million, or 0.8% YoY.

This was primarily due to an increase in distribution costs and administrative expenses from the wholesale, as a result of higher operating expenses from opening new stores, the expense associated with a growth in Omni Channel sales from the consumer behavior changing, as well as higher electricity expenses from FT adjustments. Whereas the retail business recorded lower distribution costs and administrative expenses from an efficient development of IT systems.


In addition, the distribution costs and administrative expenses compared to total revenues of wholesale and retail businesses were 9.6% and 18.4%, respectively.