Exotic Food Public Company Limited (SET: XO) announced its 2022 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 2022 | 2021 |
| Net Profit (Loss) Million Baht |
340.16 | 462.30 |
| Earning Per Share (Baht) |
0.8000 | 1.0900 |
| % Change | -26.42 | |
XO stated that net profit decreased by 26.42% to Baht 340.16 million as compared to Baht 462.29 million in 2021. Such decrease stemmed from a decrease in revenue from sales and gross profit margin, an increase in administrative expenses, and other losses.
In 2022, the Company’s revenue from sales was Baht 1,454.66 million, which decreased by Baht 69.88 million or 4.58% when compared with the revenue from sales in 2021. Such decrease was due to the fact that many countries in Europe have begun to lift and/or ease COVID-19 restrictions by allowing people to resume their normal lives, so the people minimized their cooking activities at home.
Cost of sales in 2022 has increased by Baht 12.08 million or 1.44% from the previous year to Baht 853.12 million because the prices of both raw materials and the cost of packaging have increased.
Gross profit margin decreased from 44.83% in 2021 to 41.35% in 2022. 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 has increased. Moreover, prices of raw materials and the cost of packaging also rose.
In addition, the Board of Directors approved a dividend payout of Baht 0.21 per share to be paid on 10 May 2023. The ex-dividend date is on 2 March 2023.
