GFPT Public Company Limited (SET: GFPT) reported a 7.57% year-over-year increase in third-quarter 2026 net profit to THB 769.57 million (Earnings Per Share of THB 0.61), driven by robust domestic poultry demand and significant non-operating gains. Total revenue from sales for the quarter edged up 1.82% year-over-year to THB 4,826.98 million.
Key Financial Highlights
- Net Profit: THB 769.57 million (+7.57% YoY)
- Revenue: THB 4,826.98 million (+1.82% YoY)
- EBITDA: THB 1,346.94 million (+6.12% YoY)
- Gross Profit Margin: 17.81% (vs. 20.31% in 3Q25)
The core Food segment anchored top-line growth, generating THB 2,309.10 million—up 6.52% YoY and accounting for 47.84% of total sales. Expansion was propelled by higher domestic sales volumes and firmer selling prices for chicken parts and by-products, offsetting a 6.33% decline in direct export volume (7,400 tonnes) due to softer shipments to Malaysia and China. Conversely, the Farm segment slipped 1.66% YoY to THB 1,707.02 million on reduced day-old chick sales, while Feed revenue dropped 3.12% YoY to THB 810.85 million following lower fish feed demand.
Operational gross profit contracted 10.70% YoY to THB 859.60 million as cost of sales expanded to 82.19% of revenue. However, net earnings were bolstered by a 146.12% surge in other income to THB 226.81 million, fueled by substantial insurance claims. Profit contributions from associated companies also leaped 41.25% YoY to THB 159.20 million, boosted by a sharp recovery at joint venture GFPT Nichirei (GFN). Higher EU freight costs pushed SG&A up 2.50% to THB 358.52 million, while financial costs fell 32.47% to THB 16.78 million due to debt reduction.
GFPT maintains a strong financial position backed by high liquidity. Cash and cash equivalents stood at THB 5,100.43 million as of September 30, 2026, supporting a current ratio of 4.11x and a quick ratio of 2.35x. Net debt-to-equity remained exceptionally low at 0.15x.
To capture growing market demand, management is constructing a new chicken processing factory and further processing facility alongside additional broiler farms in Chonburi Province. The expansion will add 150,000 birds per day in slaughter capacity and 30,000 tonnes annually in further processing capacity.
