Mr. Jittiporn Jantarach, Director and Managing Director of Exotic Food Public Company Limited (mai: XO), informed ‘Kaohoon’ that the company’s performance in 2Q25 is anticipated to be stronger compared to the first quarter, which generated total revenue and net profit of THB 484 million and THB 113 million, respectively, and the 4Q24’s performance, which generated total revenue and net profit of THB 510 million and THB 121 million, respectively.
The strong performance is attributed to consistent orders from customers in more than 70 countries worldwide, with particularly robust sales growth seen in the European region. The company has expanded its presence both in existing markets and by entering new ones.
Regarding the annual performance, XO maintains the target of having a stronger sales performance compared to last year, which generated revenue of THB 2.47 billion. Nonetheless, the company will evaluate its performance trend in the latter half of the year after publishing the 2Q25 financial statement.
As for the U.S. decision to impose a 36% import tariff on Thai products on August 1, XO stated that the matter would not affect the company’s performance as its export proportion to the U.S. in 2024 is only 2% of the total revenue of THB 2.47 billion. The company has expanded its exports to other markets and expects this to cover the potential loss of sales in the U.S. market.
Pi Securities recommended a “BUY” rating for XO, with a target price of THB 21.2 per share, as the analyst foresees a performance recovery, starting from the second quarter onward, with sales revenue projected to return to around THB 600 million, although the figure is still lower than the same period last year due to a high base.
Furthermore, the recovery is anticipated to become more pronounced in the second half of 2025, as European customers resume orders following stock depletion through sales and product expiration.
As for the U.S. market, Pi Securities speculated that the tariff will not affect XO as the company does not have a high sales proportion in that market.
