Thai Union's sales growth in the third quarter of 2021 was positively impacted by its continuous efforts in diversifying its business operations, as the global economy begins to recover from the downturn caused by the pandemic.

In the third quarter of 2021, Thai Union Group PCL showcased a robust performance, with sales reaching THB 35.5 billion, marking a 2.2 percent increase from the previous year. The company's gross profit also saw a rise, reaching THB 6.4 billion, a 1 percent increase year-over-year. However, the net profit experienced a slight decline of 5.8 percent, settling at THB 1.9 billion. As the global community gradually moves towards normalcy, with more people venturing back to workplaces, dining out, and engaging in outdoor activities, Thai Union Group PCL has reported substantial growth for the July-September 2021 period. This growth is attributed to robust sales and the company's ongoing efforts to diversify its business operations. During this period, key markets, particularly in Europe and North America, showed strong recovery from the pandemic-induced lockdowns and restrictions. This shift led to a decrease in the demand for shelf-stable products like canned seafood, with the company's ambient seafood business witnessing an 8 percent drop in sales to THB 15 billion. Conversely, the easing of pandemic restrictions and the reopening of restaurants, especially in the crucial U.S. market, propelled an 11 percent increase in sales for Thai Union's frozen and chilled seafood business, reaching THB 14.8 billion. Additionally, the PetCare, value-added, and other product segments demonstrated significant growth, with sales surging by 11.4 percent to THB 5.7 billion. Comparing the third quarter of 2021 to the same period in 2019, which was not affected by COVID-19, Thai Union reported a notable improvement, with sales jumping from THB 31.8 billion to THB 35.5 billion and gross profit from THB 5.1 billion to THB 6.4 billion. For the first nine months of 2021, the company's total sales amounted to THB 102.5 billion, a 3.6 percent increase year-over-year, with net profit soaring by 27 percent to THB 6 billion. Thiraphong Chansiri, CEO of Thai Union Group, expressed pride in the company's financial achievements and the continued trust consumers place in their health-focused products amidst the pandemic. He emphasized the company's commitment to enhancing its portfolio with higher-margin businesses that support the vision of 'Healthy Living, Healthy Oceans.' Thai Union's strategic efforts to diversify its business played a significant role in its growth, including a 10 percent investment in R&B Food Supply PCL (RBF), a leading Thai food ingredients company, and the establishment of a new joint venture with Starflex PCL to advance sustainable packaging solutions. These initiatives align with the company's goal to ensure all its branded packaging is reusable, recyclable, or compostable by 2025. The company's financial strength and competitive edge have been recognized with an A+ rating from Tris Rating and an A- rating from the Japan Credit Rating Agency, reflecting Thai Union's global leadership in the seafood industry and its solid financial performance. Thai Union also continued its commitment to sustainability, issuing a seven-year sustainability-linked bond in Thailand, which was significantly oversubscribed. This follows the company's issuance of sustainability-linked loans in Thailand and Japan earlier in the year, with a target to achieve 50 percent sustainability-linked financing by 2022. In addition to its financial and environmental initiatives, Thai Union has remained dedicated to community support, with its subsidiary Songkla Canning Public Company Limited rebranding to i-Tail Corporation Public Company Limited (ITC), focusing on the growing pet-related operations. The company also continued its humanitarian efforts through the Thai Union Cares program, donating over 326,000 servings of food in Thailand and supporting global communities and animal charities with food donations. As the world progresses towards recovery from the COVID-19 pandemic, Thai Union's strategic initiatives and commitment to sustainability, community support, and financial growth underscore its resilience and forward-looking approach in navigating the challenges and opportunities ahead.