Charoen Pokphand Foods PCL (CPF) reported THB26,022 million net profits in 2020, an increase by 41% from 2019, while EBITDA jumped 72% on year to THB81,692 million. The performance improved from the previous year despite the COVID-19 outbreak and African swine fever (ASF) thanks mainly to the adoption of advanced technology and innovations including AI in the production process, to attain optimal standards.
Mr. Prasit Boondoungprasert, CEO of CPF, attributed the outstanding results to in-house technology and innovations that involved new animal breeding and farming practices, the integration of Bio-security into the process, and the effective and preventive measures against the spread of diseases especially in the swine and shrimp businesses.
CPF’s profitability improved significantly as the Company gave importance to efficiency and cost control, banking on technology and innovations in farming, production and distribution. In addition, the aquaculture business in Thailand showed a significant improvement following adjustments in marketing strategies and an operational efficiency program.
Looking forward, Mr. Prasit expects an improvement in purchasing power in 2021 as the COVID-19 outbreak is easing. Domestic and international demand for Thai food products will hence increase. Coupled with the company’s capacity expansion and technology-based production efficiency enhancement, CPF is confident of continual competitiveness and expects the continuation in impressive results in 2021.