The Company operates green chemicals business and produces the products such as methyl ester, fatty alcohols, refined glycerine and other byproducts.
| 2023 | 2022 | 2021 | 2020 |
|---|
| Revenues | 17,806.45 | 25,164.57 | 20,995.23 | 18,261.85 |
| Expenses | 17,788.84 | 24,024.16 | 20,616.20 | 17,697.61 |
| Net Profit (Loss) | -201.52 | 953.30 | 330.22 | 560.14 |
| Assets | 13,681.06 | 13,632.71 | 13,516.50 | 13,239.17 |
| Liabilities | 3,861.91 | 3,305.85 | 3,546.13 | 3,246.05 |
| Shareholders' Equity | 9,819.15 | 10,326.86 | 9,970.37 | 9,993.13 |
| Operating | 357.37 | 1,746.83 | 1,115.38 | 391.69 |
| Investing | -941.94 | -1,291.65 | -267.88 | -152.27 |
| Financing | 284.65 | -568.88 | -1,083.50 | -806.79 |
| EPS (Baht) | -0.20 | 0.93 | 0.32 | 0.55 |
| GP Margin (%) | 3.39 | 7.83 | 7.38 | 7.38 |
| NP Margin (%) | -1.13 | 3.79 | 1.57 | 3.07 |
| D/E Ratio (x) | 0.39 | 0.32 | 0.36 | 0.32 |
| ROE (%) | -2.00 | 9.39 | 3.31 | 5.70 |
| ROA (%) | -0.46 | 8.39 | 3.52 | 4.92 |
GGC is accelerating implementation of corporate strategies in constant response to changing internal and external situations by 5 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 Development Strategy operating in pursuit of sustainability vision with embracing economic, social, and environmental aspects under the good corporate governance principles to become a sustainable company which is nationally and internationally accepted.
(4) Organization Transformation Strategy to accommodate strategies and establishment of a work culture consistent with strategic plans.
(5) Enables Strategy by efficiently strengthen GRC and internal control with laws and regulations in the transparency and accountability of its operations.
GGC has established the Sustainability Pathways aligns with the ESG concept as 3 dimensions as follows:
Environment Set the target of greenhouse gas emissions 20% reduction by 2030 and achieve the Net Zero target by 2050 in order to become an international sustainability organization under the climate strategy.
Social Focus on building cooperation with stakeholders throughout the supply chain and adjust the operating model for CSR to implement projects in Creating Shared Value (CSV).
Governance Operate with honesty, transparency and fairness and develop innovation and sustainability framework to serve as a guideline of laws and regulations both nationally and internationally such as integrating Governance, Risk Management and Compliance (GRC) in the organization effectively.
- 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 FY2023, total revenue of THB 17,719 million, dropped from revenue of methyl ester business dropped owing to selling price was decreased following CPO price. As well as the revenue of fatty alcohols dropped due to a decrease in average fatty alcohols prices in line with raw material prices. The Company had a Stock Loss & NRV of THB 341 million and recorded the extra items, which are decrease of provision of contingent liabilities from lawsuit and deferred income tax items of THB 60 million, resulting in the net loss of THB 202 million.
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.
| as of 28/12/23 | GGC | PETRO | SET |
|---|---|---|---|
| P/E (X) | - | - | 18.42 |
| P/BV (X) | 0.94 | 0.70 | 1.36 |
| Dividend yield (%) | 5.56 | 4.04 | 3.32 |
| 28/12/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 9,213.00 | 15,150.27 | 11,567.43 |
| Price (B/Share) | 9.00 | 14.80 | 11.30 |
| P/E (X) | - | 17.00 | 11.76 |
| P/BV (X) | 0.94 | 1.47 | 1.15 |
