CP AXTRA’s 2024 Net Profit Soars 23.5% to THB 10.8 Billion, Board Approves THB 0.71 Dividend per Share
Bangkok, 18 February 2025 - CP AXTRA Public Company Limited (The Company or CPAXT), an operator of Asia’s leading wholesaler and retailer, “Makro and Lotus’s,” has announced its 2024 operating results, reporting total revenue of THB 512,042 million, THB 22,093 million increase year-on-year and a net profit of THB 10,837(1) million, up 23.5% compared to the previous year.
The strong performance was driven by robust sales growth and an improved gross profit margin across both wholesale and retail businesses.
Omni channel sales exceeded expectations, accounting for 18% of total sales volume – reflecting CPAXT’s ongoing investment in technology, platform development and advanced AI-driven data analytics, reinforcing its leadership in retail technology.
Mr. Tanin Buranamanit, Group Chief Executive Officer, CP AXTRA Public Company Limited, stated that CPAXT’s performance over the past year reflects its strong business potential and ability to achieve growth in all dimensions. Looking ahead to 2025, the Company has outlined the following strategies to continue its momentum in sales and earnings:
- Driving growth across all distribution channels by expanding store footprints, achieving same-store sales growth (SSSG), and increasing sales volume through Omni Channel strategies, including online platforms and dedicated salesforce teams. The Company will continue expanding its service coverage by leveraging its extensive network of over 2,600 wholesale and retail stores nationwide.
- Reinforcing its position as Thailand’s leading fresh food provider with a diverse selection of over 7,000 fresh food products sourced from leading domestic and international producers. Leveraging its extensive supply network of Makro-Lotus’s, CPAXT aims to grow its ready-to-cook and ready-to-eat (RTC-RTE) offerings, providing unique options that cater to the needs of both consumers and entrepreneurs at valued prices.
- Boosting profitability through private label and high-margin products by strengthening its exclusive brand, which can be purchased only at Makro & Lotus’s to enhance market presence and drive competitive advantage. The Company is also accelerating the development of health and beauty products, a segment offering a strong gross profit margin.
- Increasing revenue from retail space and transforming malls into SMART Community Center by modernizing stores and strategically selecting tenants that align with local community needs and lifestyles.
- Leveraging AI-driven data analytics to gain deeper customer insights and deliver products and services that truly meet their needs. The Company also use AI to streamline processes, improve operational efficiency and reduce costs.
In addition, on 18 February 2025, the Board of Directors approved to propose to the 2025 Annual General Meeting of Shareholders the approval of an annual dividend of THB 0.71 per share for 2024. After deducting the interim dividend of 0.18 baht per share already paid, the remaining THB 0.53 per share will be distributed accordingly.
CPAXT continues to drive business growth with a strategic plan for sustainable development. The Company was ranked among the top 10% in the 2024 Corporate Sustainability Assessment (CSA) by S&P Global and recognized as an Industry Mover for the second consecutive year. With an impressive score of 84 out of 100, CPAXT secured its place in the Food & Staples Retailing sector of “the S&P Global Sustainability Yearbook 2025.” This achievement underscores its commitment to sustainability, ensuring value creation for all stakeholders and delivering strong and sustainable returns to shareholders.
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(1) Normalized net profit after adjustment of amalgamation-related expense
