Message from the CEO

“In order to ensure that the Group achieves the organization’s goals and vision to ‘Aiming to be a leader in investment in the automotive and maintenance business that takes into accounts the balance of stakeholders’, the Group will join together to work and develop business while achieving greenhouse gas reduction goals and seeking new opportunities for balanced and sustainable business growth.”

Dear Shareholders

Year 2024 was a challenging year for the business sector due to many economic factors that remain fragile, including inflation, high interest rate and high household debt, which caused financial institutes to remain strict with lending, along with natural disaster impacts that have decreased the purchasing power of households.

As for the automotive industry of Thailand, it was significantly impacted by both declining purchasing power and the increased stringency of loan approvals due to high household debt. As a result, the overall revenues in 2024 of Autocorp Holding Public Company Limited decreased from the previous year by 16.93% with total income at 1,512.24 million baht. Primarily, the loss of income resulted from the automotive and accessory sales segment, but income from services and parts sales increased by 98.78 million baht or 18.09 percent due to greater use of services when compared to the previous year. Thus, the Company was still able to maintain a good level of returns in year 2024 with a net profit of 24.10 million baht or an increase from the previous year by 38.82 percent due to the Group’s effective management.

Meanwhile, the Group strives toward sustainability by setting a goal to achieve net zero greenhouse gas emissions by year 2050 and to operate business according to governance principles while demonstrating transparent and equal responsibility for all stakeholders in every sector. In 2024, the Group participated in the “ESG DNA” project of the Stock Exchange of Thailand to create DNA or a culture of sustainability in the organization for employees on every level, starting with green procurement in order to create mechanisms and drive a capable and robust supply chain, followed by arranging for the organization to engage in greenhouse gas emissions assessment and reporting (CFO) with auditing conducted by independent external agencies that are certified by the Thailand Greenhouse Gas Management Organization (Public Organization) since 2023 onward. Furthermore, the Group is committed to continuously developing human resources to enter the labor market such as through the “Suea Son Som” project, which accepted interns from MOUs to participate in training, in addition to providing vocational training for many schools to encourage and support training, knowledge and experience and provide an opportunity for consideration of employment with the Group. Additionally, the Group is proud to be creating benefits for society and the country through the development of valuable and capable personnel who serve as a major force behind the country’s development.

Lastly, the Board of Directors and the Group’s executives would like to express deep gratitude to shareholders, investors and stakeholders from every sector for trusting and having confidence in the Group’s capabilities and always supporting the work activities of the Group to ensure that the Group achieves its corporate goals and the vision to “Aiming to be a leader in investment in the automotive and maintenance business that takes into accounts the balance of stakeholders” The Group will keep working together to develop the business while achieving greenhouse gas emissions reduction goals and seeking new opportunities for balanced and sustainable business growth.