CMAN reports 9-month net profits of THB 278 million, up 66% Overcoming the Perfect Storm with Resilient Business Model, Driving Expected Record Profits!

M.L. Chandchutha Chandratat, Chairman of the Board, Chememan Public Company Limited (“CMAN”), one of the world's leading producers of lime and lime derivatives under the “CHEMEMAN” brand, reported that CMAN recorded revenues from sales and service of THB 789 million, a 10% decrease, and net profits attributable to shareholders of THB 41 million, an increase of 142% year-on-year. For the first nine months of 2025, CMAN posted revenues of THB 2,767 million, a 3.1% decrease, and net profits attributable to shareholders of THB 278 million, a 66% increase compared to the same period of 2024.

The decline in revenues was primarily due to lower average selling prices because of higher market competition. In addition, the appreciation of the Thai Baht against the U.S. Dollar led to lower reported export revenues. CMAN maintained a gross profit margin of 34.4%, in line with the same period of 2024 and meeting its targets. This was mainly driven by investments in energy efficiency initiatives such as solar power projects, the use of EV trucks and effective management of energy costs. Furthermore, Finance costs declined 32.3%, driven by lower debt levels and interest expenses. The total debt-to-equity ratio improved to 1.3x from 1.5x from the same period last year, reflecting a stronger financial position and greater efficiency in debt management.

M.L. Chandchutha further commented, “CMAN has continuously strengthened its foundation for many years through a highly diversified customer portfolio that enhances resilience to market fluctuations, ongoing improvements in cost efficiency, and a solid financial structure to support long-term growth. These efforts are the key drivers behind CMAN’s strong performance amid a challenging business environment.

For the outlook in 2025, CMAN expects market growth to remain moderate. However, CMAN is well-prepared with more aggressive sales strategies in targeted industries, while maintaining selling prices and continuing to implement strict cost control. In addition, CMAN has secured local financing for its subsidiary in Vietnam to mitigate foreign exchange exposure. Within the remaining two months of the year, CMAN expects to achieve record profits, as net profits for the first nine months of 2025 have exceeded the total net profit recorded for 2024.”