Samut Sakhon, Thailand-based food and beverage manufacturing company Thai Union reported a decline in its sales and profits in the first quarter of 2025 as the company said it was affected by tariffs announced by the administration of U.S. President Donald Trump during the period.
According to Thai Union’s Q1 2025 results report released on 9 May, its sales in the quarter dropped 10.3 percent year over year to THB 29.8 billion (USD 902.9 million, EUR 802.8 million).
By category, the company’s sales of ambient products particularly struggled in the period, contracting 14 percent from a year earlier to THB 14.8 billion (USD 447.2 million, EUR 397.7 million) in Q1 2025, which the company attributed to high sales in Q1 2024 that skewed this year’s numbers, lower sales volumes, a drop in average selling prices, and unfavorable foreign exchange rates.
Thai Union’s Q1 sales of frozen products totaled THB 8.4 billion (USD 255.7 million, EUR 227.4 million), which was down 12.2 percent year over year. The company attributed the dip to lower private-label sales.
The company’s sales of value-added products in the period also contracted 3.1 percent to THB 2.4 billion (USD 73 million, EUR 64.9 million), largely thanks to the decline realized in sales prices across all segments.
Sales of its petcare products, however, rose 5.5 percent year over year in Q1 to THB 4.2 billion (USD 126.4 million, EUR 117.3 million).
Thai Union said its gross profit in the quarter amounted to THB 5.6 billion (USD 170 million, EUR 151 million), which was down 2.3 percent year over year and was primarily caused by lower profitability in its frozen and value-added segments. Its net profit in Q1 fell further, dropping 11.6 percent year over year to THB 1.02 billion (USD 30.9 million, EUR 27.5 million).
Thai Union’s lower sales and profits occurred as the company said it and other exporters were affected by the Trump administration’s tariff policies announced in the quarter.
Consequently, Thai Union has …
