Jittiporn Jantarach, Director and Managing Director of Exotic Food Public Company Limited (mai: XO), provided an overview of the company’s business performance during an Opportunity Day event organized by the Stock Exchange of Thailand on March 10, 2025.
According to Jittiporn, the company’s net profit for 2024 was THB 790.76 million, marking a 0.73% increase from the previous year when the net profit was THB 785.04 million. Sales revenue stood at THB 2,478.91 million, driven by increased revenue from Europe and other continents, alongside a reduction in cost of goods sold.
In 2025, the company has set a sales growth target not lower than the previous year, primarily due to the lagging share of the North American market in 2024, while other markets experienced growth.
If this trend continues, the company’s overall sales are expected to remain strong. XO plans to announce a clear sales target again after releasing its 2Q25 financial results in August 2025 to evaluate the first half’s trend and forecast the latter half of the year.
Regarding the plan for a new factory, it is confirmed that operations will commence by the end of 2025, with construction expected to take no more than 18 months. Currently, the company is in the process of selecting machinery for the new factory and will provide further updates once details are finalized.
Jittiporn also stated that the company plans to launch approximately 5-8 new products per year, but will withhold details until they are ready for market launch. This includes the development of other sauces beyond Sriracha, although specifics are not disclosed to minimize the risk of imitation.
The management is confident that sales can return to double-digit growth due to ongoing expansion of the customer base and overall market growth. Historical data indicates that the company’s sales and profits have grown by more than double digits on average over the past decade.
Moreover, in 2025, the company will focus on all operating markets, especially major markets with high growth potential, as well as new markets that can be further expanded. The growth in 2024 sales primarily came from markets outside the United States, demonstrating strength across various regions.
