KCG Corporation Public Company Limited (KCG) delivered record-breaking results in 2023—the strongest performance since its founding in 1958. KCG posted a net profit of 305.9 million baht, a 26.9% increase year-on-year, and sales revenue of 7,157.0 million baht, up 16.2%, driven by strong growth across all product groups and sales channels, including B2B, B2C, and exports. Strong high-season demand for cheese, butter, bakery, and biscuit products propelled KCG’s Q4 2023 net profit to 141.4 million baht, up 24.2%. In response to the robust performance, the Board proposed a 0.30 baht per share dividend, pending shareholder approval. For 2024, KCG is rolling out a strategic transformation centered on digital innovation and efficiency, with a clear goal: double-digit revenue growth.

Mr. Damrongchai Vipawatanakul, Chief Executive Officer and Managing Director of KCG Corporation Public Company Limited (KCG)—a leading manufacturer, distributor, and importer of butter, cheese, and consumer products from around the world—announced that KCG achieved record-breaking performance in 2023. For the full year (January–December 2023), KCG reported its highest net profit and revenue in its 65-year history since its founding in 1958. Net profit reached 305.9 million baht, a 26.9% increase, while sales revenue totaled 7,157.0 million baht, rising 16.2%. The strong results were driven by growing consumer demand for Western food, particularly butter and cheese, alongside the successful launch of new products tailored to market needs and increased sales contributions from its subsidiary, Indokuna (Thailand) Co., Ltd.

This performance marked a standout year for KCG, reaffirming its position as a leading manufacturer and importer of premium butter, cheese, and ready-to-eat food products for global consumers. In 2023, dairy products generated 4,086.5 million baht in revenue, up 15.0%. Food and bakery ingredients contributed 2,061.1 million baht, a 15.3% increase, while biscuis sales surged 23.9% to 1,009.3 million baht. By sales channel, B2B channel totaled 2,892.7 million baht, rising 14.2%. B2C channel reached 3,938.6 million baht, up 17.7%, and exports channel was at 325.7 million baht, an increase of 18.1% compared to the previous year.

In Q4 2023 (October–December), KCG recorded sales revenue of 2,207.0 million baht, up 14.3% year-on-year, and a net profit of 141.4 million baht, reflecting a 24.2% increase over the same period last year. This growth was primarily driven by strong seasonal demand in the Western food segment—particularly for butter, cheese, bakery, and biscuit products—boosted by the influx of foreign tourists. This helped push B2B channel to 802.2 million baht, up 8.8%, while B2C channel climbed to 1,302.5 million baht, a 17.4% increase, driven by rising consumer purchases of Western food and biscuits, especially as New Year gifts. By product category, dairy products generated 1,135.0 million baht, up 9.5%. Food and bakery ingredients brought in 578.5 million baht, growing 11.4%, and biscuits surged 31.5% to 493.5 million baht. Export revenue reached 102.3 million baht, marking a 22.6% increase compared to the same quarter in the previous year. The gross profit margin also improved to 32.7% in Q4 2023, supported by lower raw material costs, increased capacity utilization rate, and effective production cost management.

KCG’s Board of Directors approved a dividend payment of 0.30 baht per share for the Company’s 2023 operating results on February 27, 2024, representing a dividend payout ratio of 53.4%. The ex-dividend date is set for May 2, 2024, with the dividend payment scheduled for May 21, 2024, pending approval at the shareholders' meeting on April 24, 2024.

Mr. Damrongchai stated that KCG’s 2024 business plan includes the launch of new products and a stronger push into online sales channels. The company will focus on driving growth among its core customers across B2B and B2C channels. KCG is undergoing an organizational transformation, leveraging digital technologies to boost accuracy, speed, and cost-efficiency throughout the supply chain. The launch of KCG Logistics Park, a new distribution center and warehouse opening in late Q1 2024, will further expand storage capacity and improve inventory management. This direction aligns with strong growth potential in the Western food, butter, and cheese sectors, fueled by a recovery in tourism and exports. KCG has set an ambitious double-digit revenue growth target for 2024.