Exotic Food Public Company Limited (mai: XO) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
157.38 | 248.15 |
| Earning Per Share (Baht) |
0.3700 | 0.5800 |
| % Change | -36.58 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
670.48 | 557.46 |
| Earning Per Share (Baht) | 1.5700 | 1.3100 |
| % Change | 20.27 | |
The Company’s 3Q24 net profit was Baht 157.38 million, which decreased by 36.58% when compared with 3Q23 and decreased by 36.90% when compared with 2Q24. This was mainly due to a decrease in revenue from sales and gross profit margin.
In 9M24, the Company’s net profit was Baht 670.48 million, which increased by 20.28% when compared with 9M23. Such increase stemmed from an increase in revenue from sales and gross profit margin.
In 3Q24, the Company’s total revenue from sales was Baht 554.55 million, which decreased by Baht 144.41 million or 20.66% when compared with the same period in 2023. Such decrease stemmed from a decrease in sales of sauces and condiments in the Americas.
The total revenue from sales during 9M24 was recorded at Baht 1,968.49 million which resulted in an increase of Baht 258.32 million or 15.10% from the same period of the previous year. The main reason is the expansion of the main markets in Europe and other continents while sales in the Americas have decreased.
Gross profit margin has decreased to 46.60% in 3Q24 as compared to the same period in the previous year and 2Q24. This is because the customers’ purchase orders had decreased, and as a result, the overall utilization rate was lower, and consequently, the production cost per unit had increased.
In 9M24, the Company’s gross profit margin was at 49.19%, which increased from 9M23. The main reasons were a decrease in the proportion of sales in the Americas, which commands lower gross profit margin than in Europe and the depreciation of Thai Baht currency.
