The Company operates green chemicals business and produces the products such as methyl ester, fatty alcohols, refined glycerine and other byproducts.
| 9M23 | 9M22 | 2022 | 2021 |
|---|
| Revenues | 13,407.35 | 20,631.06 | 25,164.57 | 20,995.23 |
| Expenses | 13,549.21 | 19,415.75 | 24,024.16 | 20,616.20 |
| Net Profit (Loss) | -215.57 | 978.74 | 953.30 | 330.22 |
| Assets | 13,044.73 | 13,359.45 | 13,632.71 | 13,516.50 |
| Liabilities | 3,292.38 | 3,024.53 | 3,305.85 | 3,546.13 |
| Shareholders' Equity | 9,752.35 | 10,334.91 | 10,326.86 | 9,970.37 |
| Operating | 633.72 | 1,515.51 | 1,746.83 | 1,115.38 |
| Investing | -341.78 | -562.65 | -1,291.65 | -267.88 |
| Financing | -40.46 | -524.39 | -568.88 | -1,083.50 |
| EPS (Baht) | -0.21 | 0.96 | 0.93 | 0.32 |
| GP Margin (%) | 2.65 | 8.79 | 7.83 | 7.38 |
| NP Margin (%) | -1.61 | 4.74 | 3.79 | 1.57 |
| D/E Ratio (x) | 0.34 | 0.29 | 0.32 | 0.36 |
| ROE (%) | -2.40 | 8.74 | 9.39 | 3.31 |
| ROA (%) | -1.77 | 9.27 | 8.39 | 3.52 |
GGC aims to building and maintaining competitiveness, developing and preparing for dynamic environment by 4 key strategies:
(1) Strengthen Business as Usual (BAU) Strategy develop market into high-value product both Biofuel 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 such as Bioenergy, Biochemical, and Food & Nutraceuticals.
(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 is committed to conduct business in accordance with sustainable development guidelines as the follows:
(1) Environment aims to achieve GHG emission reduction 20% in 2030 and reach the net zero target by 2050. To be Global Sustainable Company with Decarbonization Pathway. Efficiency Driven Increasing the efficient production processes, Portfolio Driven Restructure business to Low carbon and Compensation Capture, Storage and Offset carbon to reach GHG reduction target.
(2) Social engages with all stakeholders through the supply chain
- Adjusted Corporate social responsibility (CSR) to Creating Shared Value (CSV) by Sustainable Palm Oil Production & Procurement (SPOPP) and Social Enterprise (SE) via build the knowledge, develop, and commercialize Health & Personal Care product for support Kohkok community in Rayong.
- Aligned with Human Rights Principles & Regulations
(3) Governance operate with transparency, and fairness to ensure good governance as well as developing innovation under international standards legals and regulations.
- 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 3Q2023, total revenue of THB 3,940 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 Loss & NRV of THB 222 million, Adjusted EBITDA of THB 132 million and the net loss of THB 262 million. (Read Management Discussion and Analysis (MDA) for 3Q2023)
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. 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. Aligned with its commitment to the BCG Model, Circular Economy, and the Net Zero goal, the company has signed an agreement to implement the BCG economy in its industrial factories to reduce CO2 emissions, collaborating with the Department of Industrial Works. Additionally, it is working with leading and 6 additional EEC companies to compile a report on industrial sector CO2 emissions and collaborating with the government on emission reduction projects.
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 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.
- Silver Medal from Ecovadis for sustainable business value chain.
| as of 29/09/23 | GGC | PETRO | SET |
|---|---|---|---|
| P/E (X) | 123.70 | - | 20.33 |
| P/BV (X) | 1.11 | 0.67 | 1.44 |
| Dividend yield (%) | 4.55 | 4.27 | 3.18 |
| 29/09/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 11,260.33 | 15,150.27 | 11,567.43 |
| Price (B/Share) | 11.00 | 14.80 | 11.30 |
| P/E (X) | 123.70 | 17.00 | 11.76 |
| P/BV (X) | 1.11 | 1.47 | 1.15 |
