Exotic Food Public Company Limited (mai: XO) has announced its 2Q25 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 2Q25 | 2Q24 |
| Net Profit (Loss) Million Baht |
170.02 | 249.43 |
| Earning Per Share (Baht) |
0.40 | 0.58 |
| % Change | -31.84 | |
| 6 Months | 6M25 | 6M24 |
| Net Profit (Loss) Million Baht |
283.21 | 513.10 |
| Earning Per Share (Baht) | 0.66 | 1.20 |
| % Change | -44.80 | |
XO reported a net profit of Baht 170.02 million, which decreased by 31.84% when compared with Baht 249.43 million in 2Q24. The decrease stemmed from a decrease in revenue from sales and gross profit margin, and an increase in corporate income tax.
In 2Q25, the Company’s total revenue from sales was Baht 607.53 million, which decreased by Baht 97.32 million or 13.81% when compared with the same period in 2024, mainly due to a decrease in sales volume of sauces and condiments in Europe.
Gross profit margin has decreased to 46.8% in 2Q25 as compared to 50.19% in the same period of last year. The main reasons for this decline were a reduction in customer orders and an increase in production capacity due to the addition of a new production line. This led to a lower overall capacity utilization rate, resulting in a higher production cost per unit. Moreover, Thai Baht currency has appreciated.
As for the income tax expenses, the expiration of two investment promotion certificates resulted in an increase in XO’s effective tax rate. In the 2Q25, the Company recorded income tax expenses of Baht 19.63 million, representing 10.35% of profit before tax, up from 3.32% in the same period of 2024. However, XO stated that it has obtained an investment promotion certificate for a new production line, which commenced commercial operations in 2Q25. As a result, the company’s effective tax rate decreased when compared to the effective tax rate of 13.55% in 1Q25.
