CP AXTRA Public Company Limited, the operator of Makro and Lotus’s, reported solid first-quarter results for 2026, supported by growth across its wholesale and retail businesses, new store openings, and a continued shift toward digital commerce.
The company posted total revenue of 136.05 billion baht for the first quarter, with net profit reaching 2.79 billion baht. Sales revenue increased across both core business segments, helped by stronger performance in fresh food, dry food, and private-label products as consumers continued to seek value and convenience amid a challenging economic environment.
A key driver of the quarter was CP AXTRA’s digital sales momentum. Online sales through Makro PRO and Lotus’s Smart App rose 27.6% year-on-year, while out-of-store sales accounted for 22% of total sales revenue, reflecting the company’s broader push to integrate physical retail, wholesale operations, and digital channels.
CP AXTRA also benefited from revenue contributions from Renewed Hope Pte. Ltd., which operates under the Lucky Frozen brand in Malaysia. The contribution strengthened the company’s foodservice business and supported its regional expansion strategy across ASEAN.
In Thailand’s fast-growing grocery e-commerce sector, Makro PRO was ranked by Euromonitor International as the country’s No. 1 grocery e-commerce platform for the second consecutive year. The recognition underlines CP AXTRA’s efforts to strengthen its online retail and wholesale ecosystem as consumer purchasing behavior continues to evolve.
The company’s mall business also recorded growth during the quarter. Rental and service income reached 3.62 billion baht, up 3.8% year-on-year, supported by expanded leasable areas in existing stores, new store openings, and a more effective tenant mix. The performance aligns with CP AXTRA’s “Happy Mall” strategy, which focuses on building community-oriented retail destinations.
Tanin Buranamanit, Group Chief Executive Officer of CP AXTRA, said the company’s first-quarter performance reflected continued expansion across its wholesale and retail platforms.
“CP AXTRA’s Q1 performance reflects the continued growth of our wholesale and retail businesses,” Tanin said. He added that the company remains focused on growing revenue across all sales channels, expanding investment in high-growth regional economies, enhancing products and services, and advancing technology to support its position as a regional retail technology leader.
Sustainability also remained a key part of CP AXTRA’s business strategy during the quarter. The company received the Platinum-level Global CSR & ESG Leadership Award at the Annual Global CSR & ESG Awards 2026. It was also ranked among the top 5% globally in the Food & Staples Retailing industry by S&P Global, the organization behind the Dow Jones Sustainability Indices.
CP AXTRA said these achievements reinforce its position as one of Thailand’s leading wholesale and retail companies, with a continued focus on sustainable growth, digital transformation, and long-term value creation for stakeholders.
