Bangkok--28 May--brand wealth
- 1 of Thailand’s largest Integrated Duck Meat providers
- 8,484 Million Baht Revenues and 661 Million baht Net Profit
Bangkok Ranch Plc. (BR), Thailand’s No.1 Duck Meat Provider and one of the World’s Top 10 players, plans to list in SET. The company reports a healthy 8,484 Million baht Revenues with an above-average profitability, compared with the listed Food companies. They market its duck products domestically and export to Asia and Europe with plan to open new export markets in Asia and Asean.
Mr. Joseph Suchaovanich, Founder and Chief Executive Officer, Bangkok Ranch Plc. or BR Group, Thailand’s leading Integrated Duck Meat Producer and distributor, reveals that The Company is one of the Industry’s Pioneers and Major Providers for more than 30 years. It operates integrated operations from downstream to upstream operations; from Feed Mill to Parent Farm, Hatchery, Commercial Farm, Slaughter House and Food-processing Factory. This Integrated Business model gives the company the competitive advantages in producing premium-quality duck meat products with advanced technology at reasonable costs. With 2 large operations in Thailand and the Netherlands, it has annual capacity of 25 million ducks. The Duck To Holding company, its subsidiary, is the largest integrated duck meat company in the Netherlands, which is the 3rd largest Duck Exporter in the EU.
Bangkok Ranch Plc. has become one of the world’s leaders in duck meat by offering variety of duck meat products from raw ducks to cooked meals under their own “Bangkok Ranch” brand, “Dalee” brand, “ Duck To” brand and “ Canature” Brand, as well as under customers‘ brands. Of overall revenue, 71% come from Thailand’s operation and 29% come from The Netherlands‘ subsidiary. The company has about 50% market shares in Thailand and serve various groups of customers. The wholesales segment accounts for 75% of sales, while Horeca (Hotels and Restaurants) such as MK Suki, S & P, Seefah, ChefMan, Coca, Four Seasons restaurants, Dusit Thani Hotels andThai Airways; contribute 15% . The Modern Trade Segment including Makro, BigC, Tops, Foodland and Villa Market contribute around 10% of Revenues from Thailand’s operation.
The Company exports to more than 20 major countries, especially in the EU such as Germany, UK, Netherlands and Japan. In 2014, the Company had revenues of 8,484 million baht, a 12% increase from 7,573 million baht in 2013. Its Gross profit jumped 40% to 1,705 million baht in 2014, from 1,218 million baht in 2013. Its EBITDA also recorded a 55% increase to 1,385 million baht in 2014, from 891 million baht in 2013. Importantly, its Net profit jumped 416% to 661 million baht in 2014, from 128 million baht in 2013. It also has a higher profitability than the average profitability of listed food companies because it has competitive advantages in controlling production cost and has successfully expanded its export markets.
Mr. Chayut Leehacharoenkul, the Group Chief Financial Officer, Bangkok Ranch Plc. adds that the company plans to expand its business both domestically and internationally. It aims to penetrate domestic’s lucrative and fast-growing Horeca (Hotels/restaurant) market by launching various new products to support their requirements. For export markets, BR plans to both increase sales in existing key markets and expand into new strategic markets such as China, Japan and ASEAN countries, namely, Vietnam and Indonesia. Therefore, the company plans to increase its registered capital to 4,569.6 million baht by offering 228,000,000 new shares to the public investors. The fund from the IPO will be invested in expanding its slaughter house, the duck meat processing factory, commercial farms as well as repay bank loans and increase working capital. Siam Commercial Bank Plc. acts as the company’s Financial Advisor while SCB Securities Co., Ltd. and Bualuang Securities Plc. will be joint-lead underwriters.
Ms. Sunit Visuthikosol, Senior Vice President, Investment Banking Division, Siam Commercial Bank Plc., its Financial Advisor, says that “ Bangkok Ranch Plc. is one of World-class Integrated Food Producers with global recognition for over 30 years. With its integrated operation, High-End Technology, its development of ready cooked meals and processed foods under its commercial brands, the company has a global distribution network covering over 20 key duck-eating countries. The company also has strong revenue structure from both domestic and international operations featuring advanced facilities in Thailand and The Netherlands. Therefore, it has effectively captured strong revenues from the EU markets. With its business and capital-increment plan, we believe the company will continue to succeed in the future.