i-Tail Corporation Public Company Limited (SET: ITC) announced operating results for the first quarter of 2025, reporting total sales revenue of THB 4,249 million, representing a 5.5 percent increase year-on-year. This growth was mainly driven by a 13.2 percent increase in sales volume, supported by strong demand from global pet food brand importers. However, revenue growth in the first quarter tends to be moderate. In this quarter, revenue growth was partially impacted by a lower proportion of premium product sales compared to the same period last year, reflecting the impact of the economic environment. Meanwhile, the gross profit margin stood at 24.1 percent, supported by effective cost management and adjustments in the premium product mix to better align with consumer demand. As a result, the company delivered a net profit of THB 677 million for the quarter.
Mr. Pichitchai Wongpiya, Chief Executive Officer of i-Tail Corporation Public Company Limited, said: “This year, ITC continues to focus on expanding our customer base in key markets, with a strategic emphasis on the development of wet cat food products, while also diversifying our portfolio of dog food and pet treats. A core part of our strategy is to drive sales volume growth. At the same time, we are actively expanding our presence among private label customers and importers across multiple regions. Most recently, we have secured new orders from retailers in Germany, Italy, and Turkey, with product deliveries expected to commence in the second half of 2025. This reflects our ability to respond to the evolving needs of consumers who demand high-quality and value-driven products. It is also a significant opportunity for ITC to differentiate and showcase our expertise and further expand our market share.”
“The premium product segment remains a cornerstone of the company’s long-term strategy, with a strong focus on differentiation through quality and innovation. The premium mix remained steady at 47–50 percent, demonstrating ITC’s ability to effectively manage and balance our product portfolio, while reinforcing a strong position in the premium market as one of the key drivers of business performance and long-term growth.”
In the first quarter of this year, America contributed 60 percent of total revenue. This was followed by Asia and Oceania at 28 percent and Europe contributed 12 percent. In terms of product categories, cat food made up the largest share at 71 percent, followed by dog food at 16 percent, and pet treats at 13 percent. In addition, the company introduced new high-quality products, generating approximately THB 182 million in additional revenue. This includes new product lines developed in collaboration with a leading global retailer, which are projected to contribute approximately USD 13.2 million in revenue by the end of the year.
In addition, ITC has launched several new initiatives since the beginning of 2025. The project focuses on developing a new product line of pet treats and cat food, with revenue expected to be recognized throughout the year. This partnership reflects the strong confidence customers have in ITC’s capabilities in innovation and manufacturing capabilities. Furthermore, the company is also committed to expanding and enhancing core product portfolios, particularly in chunk and pâté formats, while also focusing on the growth of functional pet food products to align with emerging nutritional trends and support long-term preventive pet healthcare.
For 2025, the company will continue to invest in enhancing production efficiency and supporting increasing customer demand. Key investment projects include the development of an Automated Storage and Retrieval System (ASRS) warehouse at our Songkhla factory and the implementation of automated production technology for pet food in pouches packaging at the Samut Sakhon factory. These projects are expected to reduce costs, enhance productivity, and elevate overall operational efficiency. At the same time, the company is dedicated to integrating sustainability into business practices to drive long-term growth and strengthen our position as one of the world’s leading pet food producers.
In addition to a strong growth outlook, ITC is carefully assessing global challenges, including the economic slowdown which could affect consumer spending behavior across various regions. To mitigate these risks, the company is working closely with international customers to explore solutions that minimize potential impacts, while continuously adapting our operational strategies to stay agile and responsive to evolving market conditions.
“Despite global economic challenges and external uncertainties, we remain confident in ITC’s capabilities to deliver distinctive product innovation. Coupled with our strong global partnerships, this will continue to enhance ITC’s competitive edge in offering market-driven products, expanding our customer base, and driving sustainable growth. Ultimately, we are committed to creating long-term value for our customers, shareholders, and business partners,” concluded Mr. Pichitchai.
