TFM Reports Nine-Month Revenue of Baht 4,357 Million and Net Profit of Baht 412 Million, Driven by Strong Shrimp Feed Business and Recovery in Indonesian Market

TFM Reports Nine-Month Revenue of Baht 4,357 Million and Net Profit of Baht 412 Million, Driven by Strong Shrimp Feed Business and Recovery in Indonesian Market, While Advancing R&D with Additional Investment Incentives

Bangkok, October 30, 2026 – Thai Union Feedmill Public Company Limited (TFM) reported its operating results for the first nine months of 2026, recording total sales revenue of Baht 4,357 million, comparable to the same period last year, and a net profit of Baht 412 million. The domestic shrimp feed business remained a key growth driver, achieving increases in both sales revenue and sales volume amid challenges from costs and competition. In the third quarter of 2026, the Company recorded revenue of Baht 1,577 million and a net profit of Baht 104 million, supported by a recovery in shrimp feed sales volume in Indonesia. TFM is also advancing its research and development (R&D) initiatives following approval in principle from the Board of Investment (BOI) for additional investment incentives, which are expected to reduce its tax burden, enhance competitiveness, and improve returns on investment in the future.

Mr. Peerasak Boonmeechote, Chief Executive Officer of Thai Union Feedmill Public Company Limited (TFM), a Thai producer and distributor of aquaculture feed and feed for economically important livestock, disclosed that during the first nine months of 2026, the Company focused on strengthening its domestic business while expanding into international markets and developing new products to enhance competitiveness and drive long-term growth. These efforts contributed to total sales revenue of Baht 4,357 million and a net profit of Baht 412 million.

The domestic shrimp feed business continued to be a key growth driver, recording increases in both sales revenue and sales volume in line with improving demand, supporting a 0.5% increase in overall shrimp feed sales compared with the same period last year. Meanwhile, the fish feed business faced pressure from intense competition, which was the main factor affecting total revenue. Nevertheless, the Company remains confident in its long-term strength in this market. Gross profit margin stood at 17.5%, reflecting persistently high raw material costs, while net profit margin was 9.5%.

For the third quarter of 2026, the Company recorded sales revenue of Baht 1,577 million and a net profit of Baht 104 million, with a net profit margin of 6.6% and a gross profit margin of 15.3%. Meanwhile, the shrimp feed business in Indonesia, operated under PT Thai Union Kharisma Lestari (TUKL), recorded a strong recovery in sales volume, increasing by 3.1% compared with the same period last year. This improvement was driven by the development of more competitive feed formulations, the provision of technical services to customers, and improvements in customers' financial positions. In the domestic shrimp feed market, major customers delayed shrimp stocking in response to market conditions, affecting domestic shrimp feed sales volume. This was compounded by a decline in fish feed sales volume and a high sales base in the third quarter of 2025, when seasonal demand for shrimp and fish feed was particularly strong. Nevertheless, TFM continues to pursue opportunities in new markets, particularly the aquaculture feed business in Ecuador to strengthen its competitiveness and support future growth.

In addition, the Company continues to prioritize research and product development, having received approval in principle from the Board of Investment (BOI) for additional R&D investment promotion incentives for its fish and shrimp feed development projects. These incentives include the removal of the corporate income tax exemption cap for eligible projects, allowing the Company to fully utilize the tax benefits during the exemption period. The incentives also extend the corporate income tax exemption period by one additional year. These measures are expected to reduce the Company's future corporate income tax burden and improve returns on investment, while supporting further investment in research, innovation, and product development to better meet market needs.

Most recently, in October 2026, TFM received two awards in the Business Excellence category at the SET Awards 2026, organized by the Stock Exchange of Thailand. These included the Best Company Performance Award and the Outstanding CEO Award, presented to Mr. Peerasak Boonmeechote, Chief Executive Officer. The awards reflect the Company's business performance, management excellence, and ability to adapt amid challenging conditions.

"TFM is committed to building on the strength of its business in Thailand to expand its presence in global markets through research and innovation, developing products that enhance aquaculture efficiency and create value for farmers. At the same time, we are expanding our international business operations as we strive to become a leading aquaculture feed producer that contributes to the sustainable growth of the industry," said Mr. Peerasak.