BANGKOK – Ms. Kittiwan Anuvejsakul, Executive Chairman of McThai Co., Ltd., the operator of McDonald’s, announced on March 12, 2024 that McDonald’s achieved sales of 7.213 billion baht in 2023, a 31 percent increase from 2022. This is the highest revenue in the company’s history since its establishment in Thailand 38 years ago.
Net profit also reached a new record high of 315 million baht, a 168 percent increase from 120 million baht in 2022 and a 276 percent increase from 2021. This is the second consecutive year of growth, driven by the success of burgers, which still account for more than 50 percent of McDonald’s revenue, and the rapid growth of McFried Chicken, which achieved a growth rate of 40 percent.
For 2024, the company is aiming for sales growth of 15 percent and expects to achieve profit growth for the third year in a row. It will apply the following strategies: Provide value to customers by offering high quality food at affordable prices in a variety of menu items, especially burgers and fried chicken, and increase access to Gen Z customers and provide modern service experiences that meet the needs of new generation customers.
The company has also created new branches with a new design under the concept of sustainability. The aim is to improve the quality of service to meet customers’ lifestyles and changing behaviors, which are changing rapidly in line with current technological trends.
The prototype store is carefully designed inside and out with recycled materials, creating a relaxing atmosphere with additional green spaces. Solar panels are installed on the roof to maximize the use of solar energy. The company also offers charging stations for electric vehicles. The new store is expected to be fully operational in the second quarter of this year.
The company will continue to open more than 20 new stores and renovate 25 existing stores. There are currently 230 stores. For this year, the company has set a budget of 600 million baht, an increase of 400 million baht compared to last year.
“Although the overall situation of the 45 billion baht quick service restaurant market is very challenging, the growth of 6-8 percent in the last 3 years after the country reopened and tourists returned is considered quite buoyant. However, we are confident that our strong offensive business strategy will lead McDonald’s to success and we will grow in line with our targets,” she said.
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