Message from Chairman
The year 2018 was an incredibly special and proud year that Thai Vegetable Oil Public Company Limited had a stronger performance. The result was a 40 percent rise in full year net profit to THB 1,867 million, representing a gain of THB 2.31 per share. Annual total revenue reached over THB 25,326 million, growing by 2.1% of the prior year. In addition, as a gauge to measure the consecutive success of the Company - a leading business company that address the importance of an Environmental, Social and Governance (ESG), the Company received Thailand Sustainability Investment 2018 Award (THSI) from the Stock Exchange of Thailand and has been ranked in ESG100 (listed companies with outstanding ESG performances) for the year 2018 from Thaipat Institute for the three consecutive years.
In 2018, the Company created significant change in the organizational management from the composition of the board of directors, senior management and personnel in each line. The organizational structures and management have been improved in response to the industrial dynamics with principal aim to prepare for the production expansion. The Company also hastens in the invention of new products and innovation to meet the increase and variety of market demand in the future.
For the year 2019, the Company will carry on the missions from 2018 to maintain the trend of positive growth of our business regardless of challenges in the year 2019, for example, the uncertainty of trade war between China-USA that cause high volatility in the commodities market which is involved by the two countries. Being well aware of the adverse impact that may occur, therefore, the Company monitors and follows up the world current situation firmly to apply proper risk management policy, and to seek for an opportunity to expand the business. In 2019 the Company will prepare to expand our factories to support the introduction of new products to the market.
Amid rapid changes in all dimensions of the current global situation, the Company sees the importance and great necessity of using technologies and innovation, not only to reduce the costs, but also enhance efficiency or quality. In addition, the Company will also be able to monitor and develop new technologies or innovations to boost up competitiveness with sustainability and to be in conformity with the visions of Thai Vegetable Oil Public Company Limited - the corporation with commitment to become "a leading company of vegetable oil and raw materials of animal food in ASEAN region; a company that never stops developing all related businesses with good corporate governance, social and environment responsibility".
I firmly believe that Thai Vegetable Oil Public Company Limited, a leading firm with expertise in soybean oil production for over five decades, is of great potential to compete in Thai and the global market. Our products are entrusted and accepted by customers, in particular, quality and standard that we have strived to meet customers' demand. The risk management is supervised as a whole, taking into account the highest benefits of shareholders.
On this occasion, on behalf of the Board of Directors, I would like to thank you to all sponsors, shareholders, customers, financial institutions, business alliances, government agencies, consumers and the public as well as public media for your trust and continual support on the Board of Directors and the Management. I hope we can maintain this stream of support to the Company's business success toward the future. All in all, I would express my sincere appreciation to the Management and all employees for your dedication, devotion, commitment to work and achievement of work target. I wish all happiness and glory to you all.
Chairman of the Board