The Company operates green chemicals business and produces the products such as methyl ester, fatty alcohols, refined glycerine and other byproducts.
| 6M23 | 6M22 | 2022 | 2021 |
|---|
| Revenues | 9,445.72 | 14,841.83 | 25,164.57 | 20,995.23 |
| Expenses | 9,385.83 | 13,775.55 | 24,024.16 | 20,616.20 |
| Net Profit (Loss) | 46.83 | 909.09 | 953.30 | 330.22 |
| Assets | 13,055.59 | 13,967.47 | 13,632.71 | 13,516.50 |
| Liabilities | 2,937.82 | 3,446.29 | 3,305.85 | 3,546.13 |
| Shareholders' Equity | 10,117.77 | 10,521.18 | 10,326.86 | 9,970.37 |
| Operating | 330.48 | 221.64 | 1,746.83 | 1,115.38 |
| Investing | 315.42 | -111.65 | -1,291.65 | -267.88 |
| Financing | -344.36 | -231.06 | -568.88 | -1,083.50 |
| EPS (Baht) | 0.05 | 0.89 | 0.93 | 0.32 |
| GP Margin (%) | 4.30 | 9.78 | 7.83 | 7.38 |
| NP Margin (%) | 0.50 | 6.13 | 3.79 | 1.57 |
| D/E Ratio (x) | 0.29 | 0.33 | 0.32 | 0.36 |
| ROE (%) | 0.88 | 10.48 | 9.39 | 3.31 |
| ROA (%) | 1.06 | 10.52 | 8.39 | 3.52 |
GGC focused on building and maintaining competitiveness, green biochemical business growth, developing and preparing organization for dynamic environment to achieve both short-term and long-term goals by 4 key strategies:
(1) Strengthen Business as Usual (BAU) Strategy develop market into high-value product both Bioenergy and Biochemicals, improving operational efficiency throughout the Supply Chain and increasing competitiveness from Operational Excellence.
(2) Growth Portfolio Strategy by investing in products that leverage feedstock (palm oil, sugar) into high-value downstream products as Bioenergy, Biochemical, and Food Ingredients & Pharmaceuticals.
(3) Sustainability Strategy operating with social and environmental responsibility under the good corporate governance principles through ESG concept to become a sustainable company which is nationally and internationally accepted.
(4) Foundation Strategy by people developing , organizational restructuring, and corporate cultural strengthening to sustain business growth and transformation.
GGC has entered to Sustainability Business Model with BCG Model which is holistic economic development as 3 dimensions as follows:
Bioeconomy to further develop the strengthen in Biobased resources within the country, for replacement nonrenewable resources with technologies. GGC will develop into Advanced Biofuel, Home & Personal Care Product, Food & Pharmaceuticals.
Circular Economy using resources effectiveness, reducing waste with recycling, reuse or reform to new product. GGC has projects in reducing waste by using fertilizer, upgraded By-Product, reduced wastewater. Moreover, reusing Carbon dioxide which release out.
Green Economy using technologies in production which is eco-friendly and effectiveness resourcing usage. GGC uses Palm Oil (certified by RSPO) and Sugar Cane (certified by BONSUCRO), both are sustainable plantation. Using renewable energy in plants such as Solar, Biogas. GGC has plan to use Carbon Capture Utilization and Carbon Capture Storage technologies for reducing carbon emission in the future.
- 1st Time credit rating is classified as “A-(tha)” National Rating; Outlook Stable by Fitch ratings
- A- level in Climate Change Management under the assessment framework of the national sustainability assessment institute, the Carbon Disclosure Project (CDP).
As for performance in 2Q2023, total revenue of THB 4,744 million, dropped from revenue of methyl ester business dropped owing to selling price was decreased following CPO price due to an increase in domestic stocks. As well as the revenue of fatty alcohols dropped due to a decrease in average fatty alcohols prices in line with raw material prices. When deducting the effect of Stock Gain & NRV of THB 5 million8jhhrgt, Adjusted EBITDA of THB 144 million and the net profit of THB 7 million. (Read Management Discussion and Analysis (MDA) for 2Q2023)
GGC has developed a comprehensive decarbonization strategy aimed at transforming ourselves into a global sustainable company. As part of this initiative, the company has set ambitious targets to reduce greenhouse gas emissions by 20% by 2030, relative to the base year of 2020. Moreover, a key objective is to achieve carbon neutrality by 2050. To achieve these objectives, the strategy will be implemented through 3 distinct approaches such as Efficiency Driven, Portfolio Driven, and Compensation Driven. These measures represent significant steps towards the company's commitment to environmental responsibility and sustainable practices. In pursuit of our greenhouse gas emissions reduction objectives, the Company has forged a Memorandum of Understanding (MOU) with the Department of Engineering at Kasetsart University to support the Company's sustainability management in 3 initiatives as mentioned above. This comprehensive operating plan will enable the Company to move confidently towards achieving its Net Zero goal.
GGC has risk management system according to international standards COSO (ERM 2017), ISO 31000:2018 and the 2017 Thai Corporate Governance Code for Listed Companies, as well as anti-corruption practices. Also, closely supervision by the Enterprise Risk Management Committee (ERMC) and the Risk Management Committee (RMC) to operate business effectively under acceptable risks through various risk management approaches which is closely monitoring of market situations and impact assessment to define mitigation measures to reduce chances and damage that may occur and/or to capture business opportunities. Additionally, the company has Business Continuity Plan (BCP) to address events that could lead to business disruptions and regular practice of implementing BCP every year.
- Honor plaque from the Ministry of Natural Resources and Environment
- Environment and safety good governance award (White Banner, Gold Star) for 5th consecutive year, (White Banner, Green Star) for 10th consecutive year from Industrial Estate of Thailand
- CSR-DIW Continuous Award for 2022 for 8th consecutive year and Eco Factory plus Social Value at the Gold Plus level for 2022 from the Department of Industrial Works, Ministry of Industry.
- Excellent for 5th consecutive year Corporate Governance Report of Thai Institute of Directors (IOD)
- A- Level on climate change management under the Carbon Disclosure Project (CDP) for 2022.
- Sustainability Disclosure Award, first category for the third consecutive year.
| as of 30/06/23 | GGC | PETRO | SET |
|---|---|---|---|
| P/E (X) | 24.27 | 38.42 | 17.96 |
| P/BV (X) | 1.18 | 0.81 | 1.46 |
| Dividend yield (%) | 4.17 | 3.65 | 3.12 |
| 30/06/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 12,284.00 | 15,150.27 | 11,567.43 |
| Price (B/Share) | 12.00 | 14.80 | 11.30 |
| P/E (X) | 24.27 | 17.00 | 11.76 |
| P/BV (X) | 1.18 | 1.47 | 1.15 |
