Message from Executives

The Company’s goal is to attain Net Zero Emissions by the year 2050 across its entire value chain. We are the first food company that has been approved for both short-term and long-term goals which align with The Forest, Land and Agriculture Guidance (FLAG) standards for agriculture and food industry by the Science Based Targets initiative (SBTi)

Charoen Pokphand Foods Public Company Limited operates a fully integrated agro-industrial and food business, aiming to establish food security to become “Kitchen of the World”. The Company and its joint investments have manufacturing base in 17 countries and distribution networks extending over 50 countries globally. The Company is committed to develop and deliver highly nutritious food products that satisfy consumers. Our production process and operations strive to maintain the balance between economic success and creating shared value with all stakeholders, in accordance with the 3 Benefit Principles of Charoen Pokphand Group that aims for benefits of the country, the people, and the Company, all under the umbrella of good corporate governance.

In the past year, the economic landscape faced significant challenges stemming from various factors. These included a less-than-anticipated rise in purchasing power, heightened agricultural raw material expenses due to political tensions, escalated interest rates, and an oversupply of meats across several nations. Consequently, the Company’s performance in 2023 fell short of expectations, evidenced by a total sales revenue of 585,844 million baht, a 5% decline compared to 2022.

Assets were valued at 887,218 million baht, with a tax expense of 4,442 million baht*, resulting in a net loss of 5,207 million baht. In the face of these challenges, the Company focuses on enhancing operational efficiency and maximizing yields from its assets by reducing investments in sectors where growth opportunities do not align with current conditions. Nevertheless, the Company continues to uphold

operational strategies that emphasize fostering an innovative organizational culture. This approach aims to refine operational processes, products, and services to resonate with evolving consumer and stakeholder behaviors. Although the economic growth undergoes various challenges, the Company does not neglect the balance in sustainable development, maintaining stakeholders’ human rights, climate change management, water resources management, and biodiversity. Through effective corporate governance practices, the Company ensures food security in both stable and crisis situations.

In 2023, one of our missions was to announce the goal to achieve Net Zero Emissions by 2050. The Company becomes one of seven companies worldwide to join pilot projects and is the first food company that has been approved for both short-term and long-term goals which align with the Forest, Land and Agriculture Guidance (FLAG) standards for agriculture and food industry by the Science Based Targets initiative (SBTi). Such mission is beneficial to business operations and environmental management.

On behalf of the Board of Directors, executives, and employees, we would like to extend our gratitude toall stakeholders for continuous support and trust. The Company is committed to operates business following the vision of “Kitchen of the World” to strengthen food security based on the good corporate governance with the consideration of the society, communities, and environment as well as sustainable economic growth.