CP ALL Public Company Limited (SET: CPALL) delivered a robust financial performance in the third quarter of 2025 (3Q25), reporting a net profit of Baht 6,597 million, marking a significant increase of 17.6 percent year-over-year (YoY). This improved profitability came as a consequence of enhanced performance, primarily driven by the convenience store (CVS) business and effective cost control.
| Quarter | 3Q25 | 3Q24 |
| Net Profit (Loss) Million Baht |
6,596.53 | 5,607.86 |
| Earning Per Share (Baht) |
0.7300 | 0.6100 |
| % Change | 17.63 | |
| 9 Months | 9M25 | 9M24 |
| Net Profit (Loss) Million Baht |
20,950.22 | 18,166.74 |
| Earning Per Share (Baht) | 2.30 | 1.98 |
| % Change | 15.32 | |
Total revenues for 3Q25 reached Baht 250,655 million, rising by 3.9 percent YoY. This growth was attributed to an increase in revenue from the sale of goods across all business units, including convenience stores, wholesale/retail, and mall operations. A contributing factor was the continued success of the Offline-to-Online (O2O) strategy implemented across its businesses.
The Company successfully enhanced its profitability profile, with Gross Profit rising by 3.9 percent YoY to Baht 55,241 million. Consequently, the consolidated gross profit margin slightly increased to 22.8 percent, up from 22.7 percent in 3Q24. This margin growth stemmed from a product strategy focusing on delivering items that satisfy customer needs and emphasizing products with higher margins.
Key operational points impacting the profit/loss statement included:
- Cost Increases: Distribution costs and administrative expenses rose by 5.0 percent YoY to Baht 51,004 million. This increase was linked primarily to rising employee benefits, store management fees, and advertising expenses, which grew alongside the Company’s continued store expansion.
- Convenience Store Strength: The critical convenience store segment reported a 5.6 percent YoY increase in total revenue. This was supported by the addition of 169 new stores during the quarter, bringing the total store count to 15,764. The segment’s net profit jumped 16.4 percent YoY to Baht 5,202 million.
- Customer Dynamics: The average number of customers per store per day declined due to seasonal mobility factors and a lower number of foreign tourists, particularly Chinese visitors. As a result, same-store sales growth (SSSG) contracted slightly by 0.5 percent YoY.
