United Palm Oil Industry Public Company (UPOIC) Q3 2024 earnings summary

Executive summary

• Total revenue for Q3 2024 reached Baht 527.8 million, up 98.3% year-over-year.

• Net profit for Q3 2024 was Baht 61.9 million, an increase of 119.5% compared to Q3 2023.

Financial highlights

• Sales revenue increased by Baht 261.8 million or 103.5% from Q3 2023, driven by higher CPO and CPKO sales volumes.

• Gross profit rose by Baht 57.2 million or 130.6% year-over-year.

• Cost of sales as a percentage of revenue decreased to 80.4% from 82.7% in Q3 2023.

• Net profit after tax increased by Baht 33.7 million to Baht 61.9 million, up 119.5% year-over-year.

Segment performance

• CPO sales volume increased by 135.3% and CPKO sales volume by 57.6% compared to Q3 2023.

• Other income from by-products decreased by Baht 0.2 million or 1.5% year-over-year.