CP ALL Public Company (CPALL) Q3 2024 earnings summary

Executive summary

• Achieved record consolidated revenue of 241,282 MB in 3Q24, up 6.6% YoY, and 730,233 MB for 9M24, up 7.3% YoY, driven by growth across all business segments.

• Net profit for 3Q24 was 5,608 MB (+26.8% YoY); 9M24 net profit attributable to equity holders was 18,200 MB (+40% YoY).

• The Group expanded its 7-Eleven store network to 15,053 locations as of 30 September 2024, up from 14,545 at year-end 2023.

• Continued positive same store sales growth (SSSG) for 3Q24 at +3.3%, with average daily sales per store at 85,000 Baht.

Financial highlights

• Consolidated gross profit margin improved to 22.7% in 3Q24 (+10.9% YoY); EBIT margin at 4.8% (+14.2% YoY).

• EBITDA for 3Q24 was 20,679 MB; net margin at 2.3% for the quarter.

• Basic EPS for the nine months was 1.98 Baht, up from 1.41 Baht YoY.

• Cash and cash equivalents at 30 September 2024 stood at 46,000 MB, down from 67,200 MB at year-end 2023.

• Dividends paid in 2024 totaled 8,983 MB (1.00 Baht/share), with a payout ratio of 58%.

Outlook and guidance

• 2024 CAPEX plan targets 12,000–13,000 MB, focusing on 700 new stores in Thailand, 10+ in Cambodia, and continued renovations.

• The Group continues to focus on expanding its convenience store network and enhancing operational efficiency.

• Ongoing business restructuring and amalgamation activities are expected to support long-term growth.