Betagro Reports Strong Growth in 2024, Sets Sights on 2025 Expansion with THB 4.8 Billion Investment to drive 3-7% Revenue Growth
Bangkok, February 26, 2025 – Betagro Public Company Limited (BTG), a leading integrated food company in Thailand, has announced robust financial results for 2024, demonstrating strong growth despite economic challenges. The company reported total revenue of 114,942.6 million baht, marking a 5.3% increase from the previous year, a net profit of 2,466.2 million baht, recovering from net loss. Looking ahead to 2025, Betagro has set 4.8 billion baht for strategic investments to drive both domestic and international expansion, targeting revenue growth of 3-7%.
Mr. Vasit Taepaisitphongse, Chief Executive Officer and President of Betagro Public Company Limited (BTG), revealed that the company’s performance in 2024 reflects on its adaptability in challenging economic condition and market fluctuation. Through prudent and effective management strategies, Betagro achieved total revenue of 114,942.6 million baht, a 5.3% increase from 2023, with growth across all key business segments. Especially, the Food and Protein business thanks to continued market expansion to meet rising consumer demand both domestically and internationally, product portfolio optimization, an increase of chicken prices as a result of continued export growth, and a recovery of pig prices in Thailand due to reduced pork smuggling problems. Additionally, the Agro business grew from the Company’s capacity expansion of Betagro’s new feed mill in Chachoengsao, which started production in Q3/2024 with an annual capacity of 400,000 tons—a 10% increase—this facility has significantly strengthened the company’s ability to meet market demand.
Meanwhile, Net profit for 2024 was at 2,466.2 million baht, recovering from a net loss of THB1,398.2 million in 2023. This was supported by improving in gross profit of 15,401.1 million baht in 2024, an increase of 42.1% from THB10,837.6 million in 2023 and gross profit margin was at 13.5% in 2024, up from 10.0% in 2023, mainly from a decrease of raw material cost following the decreased prices of animal feed raw materials. Moreover, the Company was able to control expenses efficiently, which reduced selling and administrative expenses to sales ratio from 10.7% in 2023 to 10.5% in 2024. Additionally, TRIS Rating reaffirmed Betagro’s corporate credit rating at “A” with a “Stable” outlook, reflecting the company’s robust fundamentals, strong operational capabilities, and solid financial structure.
In 2025, Betagro plans to invest 4.8 billion baht to accelerate business growth through three key strategies:
- International Expansion – Through mergers and acquisitions (M&A) and strategic partnerships in high-potential markets.
- Product and Channel Mix Optimization – Enhancing profitability by focusing on high-margin products and channel to drive revenue growth and market share.
- Cost Transformation – Leveraging digital technology and process innovation to improve operational efficiency, reduce costs, and enhance profitability.
Betagro anticipates a continued recovery in pig and chicken prices, alongside a decline in animal feed costs. The company also expects strong export growth, driven by rising demand from European markets, with these favorable trends. Betagro is confident in achieving its 2025 revenue growth target of 3-7%.
Beyond financial performance, Betagro remains committed to sustainability. In 2025, the company aims to further enhance its ESG (Environmental, Social, and Governance) standards by aligning with FTSE Russell ESG Scores. In 2024, Betagro received SET ESG Ratings 2024 in highest level of “AAA” for the first time by the Stock Exchange of Thailand, which was 1 of 56 listed companies with top-tier ratings. This achievement underscores Betagro’s dedication to responsible business practices and long-term sustainable growth.
“With strong business potential, a clear operational strategy, and a firm commitment to sustainability, Betagro is ready to drive robust growth alongside all stakeholders and lead the business toward a sustainable future”, Mr. Vasit said.
