Thai Coconut Public Company Limited (SET: COCOCO) has announced 1Q25 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 1Q25 | 1Q24 |
| Net Profit (Loss)
Million Baht |
64.79 | 203.52 |
| Earning Per Share
(Baht) |
0.0400 | 0.1400 |
| % Change | -68.16 | |
COCOCO reported a net profit in 1Q25 of Baht 64.79 million, a decrease of Baht 138.73 million or 68.16% compared to the previous year. This decline in net profit was temporary and primarily due to higher-than-expected sales of coconut milk products during the low season for the beverage segment, which coincided with a significant increase in raw material costs, particularly coconut, as impacted by the El Niño phenomenon.
In addition, compared to the preceding quarter, net profit decreased by 18.85 million baht or 22.51%. This reduction was mainly attributable to a seasonal decline in revenue from both coconut water and coconut milk products, as the first quarter typically falls within the low season for the beverage business.
In 1Q25, the company recorded total revenue of 1,550.55 million baht, representing an increase of 10.94% compared to the same quarter of the previous year. This growth was primarily driven by an increase in sales and service revenue from coconut water products, in response to the expanding beverage market and growing consumer demand for coconut water.
Revenue from pet food products also continued to grow, supported by the Company’s success in expanding distribution channels and increasing sales from both domestic and international customers.
The majority of the revenue growth was attributed to increased sales in the Americas and Asia, particularly in the Chinese market. However, when compared to the preceding quarter, total revenue declined by 11.71%, primarily due to seasonal factors affecting the beverage segment.
The first quarter is typically regarded as the low season, resulting in a temporary decline in purchase orders from some markets. A recovery in orders is expected in the following quarter, which coincides with the high season for the beverage business.
