Message from Executives
Charoen Pokphand Foods PCL. operates a fully integrated agro-industrial and food business with the goal of establishing food security to become the “Kitchen of the World” with sustainable growth. The Company and its joint investments have manufacturing base in 17 countries around the world, and exports from Thailand to over 40 countries. The Company is on a mission to develop and deliver highly nutritious and tasty products which satisfy consumers. Concurrently, we strive to maintain the balance of business success and the value delivered to all stakeholders in alignment with The ‘3-Benefit’ principles which aims to create prosperity for the country, local communities as well as the company and its people, under the foundation of good corporate governance.
Last year, the COVID-19 pandemic severely impacted the global economy, resulting in changes in consumer preferences and behaviors. Additionally, foreign conflicts, particularly in Ukraine and Russia, caused sharp increases in energy and raw material prices for animal feed, leading to inflation in many nations and increased interest rates. These factors presented challenges for the business, and as a result, the Company adopted policies to adjust to the shifting consumer preferences and remained cautious in making investments, as well as focus on effective cost management by increasing operating efficiency through various innovations and technologies in the manufacturing process, such as digital systems and blockchain technology.
Aside from the aforementioned factors, the livestock industry in many countries has also faced epidemics such as African Swine Fever (ASF) in the swine industry. During this time, the Company has implemented stringent biosecurity measures in our farms and operations to keep our animals safe which in turn deliver high-quality meat products for consumers.
In 2022, The Company recorded revenue from sales totaling 614,197 million Baht, representing growth from 2021 by 20%. Asset values were 926,987 million Baht, taxes paid to the state were 6,003 million Baht and net profit was 13,970 million Baht, or growth from 2021 by 7%.
The Company’s Board of Directors resolved to propose to the 2022 Annual General Meeting of Shareholders to approve the payment of dividends for 2022 at a rate of 0.75 Baht per share, comprising the interim dividend payment for shareholders on 14 September 2022 of 0.40 Baht per share, and an annual dividend payment proposed to be paid to shareholders on 25 May 2023 of 0.35 Baht per share.
The Company prioritizes economic growth alongside maintaining a balance with sustainable development, environmentally and socially, with good corporate governance. In 2022, the Company signed up for the Science Based Targets initiative (SBTi), which commits the Company to reduce GHG emissions to Net Zero by 2050. The Company has supported the reduction of coal energy usage and increased the adoption of renewable energy. Specifically, the Company ceased the use of coal energy at our facilities in Vietnam in June 2020 and completed the phase-out of coal energy at our facilities in Thailand in December 2022. Furthermore, the Company has worked with banks in many countries on programs to support suppliers and customers, by giving them access to the capital which will improve their liquidity during an economic slowdown.
On behalf of the Board of Directors, executives, and employees, we would like to extend our gratitude to all stakeholders for the continuous trust and support. We shall continue to drive business growth following our vision “Kitchen of the World” in order to strengthen food security, based on the foundation of good corporate governance and contribution to the society, community, and environment, as well as to achieve sustainable economic growth.