ITC delivers strong performance in 2024: sales reach THB 17.7 billion, net profit surges 58 percent to THB 3.6 billion, announces final dividend of THB 0.75 per share

Bangkok – February 13, 2025 – i-Tail Corporation Public Company Limited (ITC) announced 2024 business performance, achieving total sales revenue of THB 17,729 million, a 13.8 percent increase from the previous year. The company reported a strong gross profit margin of 27.7 percent and a net profit of THB 3,597 million, marking a 57.7 percent year-on-year growth. These results were driven by increased sales across all regions, a higher proportion of premium product sales, and efficient cost management. And the company decided to approve a second-half dividend payment of THB 0.75 per share, bringing the full-year dividend to THB 1.15 per share. This represents a dividend payout ratio of 95.9 percent.

Pichitchai Wongpiya, Chief Executive Officer of i-Tail Corporation PCL, said, " The year 2024 marked the beginning of a strong recovery for i-Tail, driven by the growth of the global pet food market. Despite ongoing economic challenges, the consumption of premium products continues to rise, reflecting the preferences of pet parents who prioritize providing the best nutrition and care for their pets. The company recognizes opportunities in this high-potential market that align with our expertise in innovation to develop products that better meet market demands and customer needs. These efforts have supported our business growth targets and tap into new opportunities, paving the way for long-term success.”

For the final quarter of 2024, i-Tail reported total sales revenue of THB 4,698 million, a 5.9 percent increase compared to the previous quarter, with a net profit of THB 790 million. To drive long-term growth, i-Tail has launched a transformation program to accelerate growth by focusing on the development of high-quality pet food products through innovation and advanced manufacturing processes. The company has set an ambitious target to triple a sales revenue to approximately USD 1,500 million by 2030 through organic growth and strategic mergers & acquisitions in pet-related businesses, aiming to strengthen a position as a leader in the global pet food market.

In 2024, i-Tail's global pet food revenue footprint was led by the Americas representing 50 percent of total sales, followed by Asia and Oceania at 34 percent, and Europe represented 16 percent. Sales were also categorized into three main product categories: cat food at 70 percent, dog food at 18 percent, and pet treats at 12 percent. In addition, the company introduced over 1,300 new high-quality pet food products to the market, generating revenue of THB 1,395 million, which was approximately 8 percent of last year’s total sales. And the company also successfully secured 83 new customer contracts globally.

“In 2025, i-Tail is committed to accelerating growth and expanding our footprint in the global market, with a strong focus on expanding the private label business in the U.S. and Europe. Our approach, which prioritizes both customers and their pets, remains at the core of our strategy as we continue to innovate and deliver products that meet the evolving needs of pets and their owners. From wet food and pet treats to functional pet food products, our ultimate ambition is to lead the supplement and nutraceutical markets, promoting sustainable health and well-being for pets worldwide,” concluded Pichitchai.