TFM posts Q1 2026 revenue of THB 1.325 billion with double-digit profit growth, driven by shrimp feed and a strategic shift toward high-value products to penetrate global premium markets

Mr. Peerasak Boonmechote, Chief Executive Officer of Thai Union Feedmill Public Company Limited (TFM), a leading producer of aquaculture and livestock feed in Thailand, stated that the company continued to deliver steady growth in Q1/2026. TFM recorded sales revenue of THB 1.325 billion, an increase of 7.6% from the same period last year, driven by the strong performance of its shrimp feed business, which remains the company's primary growth engine. The shrimp feed segment generated revenue of THB 880 million, accounting for approximately 66% of total revenue, and grew 13.1% year-on-year, supported by higher sales volume and expanded domestic market share.TFM's gross profit margin stood at 20.0%, slightly lower than 21.7% in the same period last year, primarily due to higher raw material costs, most notably fishmeal, which rose by more than 30% year?on?year.

Nevertheless, the company effectively managed these cost pressures through a continued shift toward higher?value products and ongoing improvements in production efficiency, helping maintain strong and competitive overall profitability.

In addition, selling and administrative expenses as a percentage of sales declined to 8.8% from 9.8% last year, reflecting effective cost control. The company also benefited from BOI tax incentives, which further supported profitability, along with improved receivables management that strengthened overall earnings quality. Net profit came in at THB 148 million, up 11.9%, resulting in a net profit margin of 11.1%, underscoring the company's solid profitability and disciplined cost management despite rising input costs.

In terms of long-term growth, TFM continues to expand its international footprint, including ongoing collaboration in Bangladesh to advance the aquaculture industry and investment in Ecuador to support rising global demand. These initiatives are being pursued alongside the company's "low carbon aquaculture" strategy under the Thai Union Synergy 2026 program, which aims to enhance efficiency across the production chain and strengthen the competitiveness of Thai farmers to meet the needs of premium markets.

Although the first quarter is typically the low season for the industry and global economic conditions and cost pressures remain challenging, the company continued to sustain growth in both revenue and profit. This reflects the resilience of its business model and effective cost management amid market volatility.

Mr. Peerasak added that TFM is moving ahead with its 2026 growth targets, aiming to increase sales by 8-10% from last year, driven primarily by its shrimp feed and fish feed businesses. This will be supported by maintaining profitability through continued cost management, increasing the proportion of higher-value products, and enhancing operational efficiency to ensure stable, long-term growth.

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