Thai Union Group has unveiled a new business roadmap dubbed “Strategy 2030” that it said will double its earnings in the next six years.
Thai Union recently released its Q3 2024 results, revealing better margins and an all-time-high gross profit margin. That result was in part thanks to the company’s divestment of its minority share in Red Lobster, which dragged on the company’s finances since Thai Union first invested millions into the company and later acquired it outright in 2020 as part of a consortium.
Now, the company said it plans to continue that positive trajectory and has aspirations to reach USD 7 billion (EUR 6.6 billion) in sales by 2030 – up from the USD 3.9 billion (EUR 3.7 billion) in sales it is projecting for 2024. It also said it will boost its EBITDA by 100 percent from USD 400 million (EUR 378 million) to between USD 700 million and USD 800 million (EUR 662 million and EUR 757 million) within the next six years.
“The world today faces unprecedented shifts, from geopolitical pressures and rising inflation to rapidly evolving consumer demands. In the face of these challenges, Thai Union is seizing the opportunity to turn the tides and achieve greater success,” Thai Union President and CEO Thiraphong Chansiri said.
Thai Union Group Chief Strategy and Transformation Officer Paul Herholz said Strategy 2030 will be built on three separate strategic pillars to leverage both organic and non-organic growth.
“Strategy 2030 is more than just a roadmap. It’s our catalyst for sustained, long-term growth,” Herholz said. “For our strategy to generate true value, we have identified critical enablers we must execute in order to lay strong foundations for continued success.”
The first pillar, “revitalizing the core,” will focus on ...
