CP AXTRA Announces 2025 Performance: Total Revenue of 520,706 Million Baht, Online Sales Surge by 27.4% Board to Propose Dividend of 0.71 Baht per Share
Bangkok: February 23, 2026 – CP AXTRA Public Company Limited (The Company or CPAXT), the operator of Asia's leading wholesaler and retailer "Makro and Lotus's," announced its 2025 operating results, reporting total revenue of 520,706 million baht and net profit of 9,356 million baht. The Company’s performance was driven by the following factors:
- Fresh food category sales—the Company’s core competitive strength—continued to expand, complemented by robust growth in Private Label products, which enhanced differentiation and strengthened overall revenue.
- Foodservices business continued its steady growth, supported by full-quarter revenue recognition from foodservice product sales following the acquisition of shares in Renewed Hope Pte. Ltd. in Q3 2025. The investment has strengthened the Company’s potential and expanded its customer base across hotels, restaurants, and foodservice operators.
- Growth in out-of-store sales, one of the Company’s key strategies, driven by increasing sales through the B2B salesforce, particularly within the strongly performing HoReCa segment. Online sales via the “Makro PRO” and “Lotus’s Smart App” platforms grew significantly by 27.4% year-on-year. “Makro PRO” was recently ranked by Euromonitor International as Thailand’s No.1 Thai e-commerce platform and Thailand's No.1 e-commerce platform by first-party (1P) sales, reinforcing its position as a leader in Thailand's rapidly growing e-commerce market.
- Continued expansion of the store network and service areas to broaden customer access, supported by a nationwide network of more than 2,600 stores serving as distribution and fulfillment hubs for the online business.
The Company maintained a strong financial position, with a net interest-bearing debt to equity (Net IBD to Equity) ratio of 0.33 times, reflecting disciplined capital management and a solid foundation to support long-term growth.
Mr. Tanin Buranamanit, Group Chief Executive Officer, CP AXTRA Public Company Limited, stated, "CP AXTRA continues to pursue quality and sustainable growth, underpinned by financial discipline and prudent cost management. We are strengthening our core businesses while developing 'Happy Mall' as a community center destination. At the same time, we are accelerating out-of-store sales expansion, particularly through online platforms, while enhancing the use of technology and data to drive the organization toward becoming a leading Retail Tech company in Thailand and Southeast Asia."
In 2026, the Company has outlined five core strategies to sustain growth in both domestic and international markets:
- Driving growth across all channels, particularly out-of-store sales through B2B and online channels, alongside store expansion across diverse store formats.
- Strengthening leadership in fresh food category and increasing Private Label penetration, while expanding Ready-to-Cook and Ready-to-Eat offerings to create differentiation and meet the needs of B2B and B2C customers with value-for-money products.
- Enhancing malls into "Happy Malls" to generate income through efficient space management.
- Expanding business across the ASEAN region by building on market potential in Malaysia and expanding operations in the Philippines to support long-term growth.
- Leveraging technology and AI to enhance operations, in collaboration with leading global technology partners, to strengthen the supply chain and drive the Company's transformation into a leading Retail Tech company in the region.
In addition, the Board of Directors approved the proposal to be submitted to the 2026 Annual General Meeting of Shareholders for the approval of an annual dividend of 0.71 baht per share for the year 2025. After deducting the interim dividend of 0.18 baht per share already paid, the remaining 0.53 baht per share will be distributed accordingly. The record date for eligible shareholders is April 21, 2026, with payment scheduled for May 7, 2026.
CP AXTRA remains committed to driving its business forward alongside sustainability across ESG dimensions. In 2025, the Company delivered strong sustainability performance at the global level, achieved a score of 88 out of 100 in the Corporate Sustainability Assessment (CSA) by S&P Global, the organization behind the DJSI, ranking second globally in the Food & Staples Retailing sector. CP AXTRA also received an "AAA" rating from SET ESG Ratings and an "A" rating from MSCI ESG Ratings, reinforcing its position as a leading Thai wholesale and retail operator that grows alongside sustainability while creating value for all stakeholders.
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