BTG Books Robust 300% Profit Growth in 2Q25, Driven by Consumer Food Business

Betagro Public Company Limited (SET: BTG) has announced 2Q25 consolidated financial statement through the Stock Exchange of Thailand as follows:

 

In the second quarter of 2025, BTG reported a net profit of THB 2,594 million, an increase of 313.2% from THB 627.8 million in 2Q24. Net profit margin for the quarter was at 8.2%, up from 2.3% in the same period last year. The increase in net profit and net profit margin was mainly attributable to an increase in gross profit margin and more efficient cost control.

Total income was at THB 31,661.12 million in 2Q25, an increase of 15.6% from THB 27,394.3 million in 2Q24. This was mainly due to an increase of revenue from consumer food business which increased by 21.4% from the previous year driven by 1) rising prices of domestic pork, 2) increasing sale volume in pork, chicken and egg products, and 3) product portfolio optimization which focused on high-margin products and channels such as processed food and ready-to- eat products, along with expanding foodservice and export channels.

Gross profit was at THB 6,184.8 million in 2Q25, an increase of 61.2% from THB 3,836.3 million in 2Q24 and gross profit margin was at 19.6% in 2Q25, up from 14.1% in 2Q24. The increase in gross profit and gross profit margin was primarily due to rising domestic livestock prices, especially pig prices, as a result of lower supply. Meanwhile, raw material cost also decreased following the decreased prices of animal feed raw materials, particularly soybean meal, which has a continued downward trend.

EBITDA was at THB 4,422.8 million in 2Q25, an increase of 96.2% from THB 2,254.4 million in 2Q24, and the EBITDA margin was at 14.0% in 2Q25, up from 8.2% in 2Q24. The increase in EBITDA and EBITDA margin was attributable to an increase in gross profit and gross profit margin of the consumer food business. Moreover, the company was able to control expenses efficiently, resulting in the SG&A to Sales Ratio for the six months ended 30 June 2025 being at 10.3%, a decrease from 10.5% in the same period last year.