The Company operates green chemicals business and produces the products such as methyl ester, fatty alcohols, refined glycerine and other byproducts.
| 9M24 | 9M23 | 2023 | 2022 |
|---|
| Revenues | 13,639.12 | 13,407.35 | 17,806.45 | 25,164.57 |
| Expenses | 13,439.47 | 13,549.21 | 17,788.84 | 24,024.16 |
| Net Profit (Loss) | -415.24 | -215.57 | -201.52 | 953.30 |
| Assets | 11,536.66 | 13,044.73 | 13,681.06 | 13,632.71 |
| Liabilities | 2,144.57 | 3,292.38 | 3,861.91 | 3,305.85 |
| Shareholders' Equity | 9,392.09 | 9,752.35 | 9,819.15 | 10,326.86 |
| Operating | 49.21 | 633.72 | 357.37 | 1,746.83 |
| Investing | 1,067.01 | -341.78 | -941.94 | -1,291.65 |
| Financing | -1,206.40 | -40.46 | 284.65 | -568.88 |
| EPS (Baht) | -0.41 | -0.21 | -0.20 | 0.93 |
| GP Margin (%) | 5.07 | 2.65 | 3.39 | 7.83 |
| NP Margin (%) | -3.04 | -1.61 | -1.13 | 3.79 |
| D/E Ratio (x) | 0.23 | 0.34 | 0.39 | 0.32 |
| ROE (%) | -4.19 | -2.40 | -2.00 | 9.39 |
| ROA (%) | -1.33 | -1.77 | -0.46 | 8.39 |
GGC has reviewed and implemented the corporate strategies in response to business situations by 3 key strategies:
(1) Strengthen Business as Usual (BAU) Strategy adjusting portfolio to align with business direction, also strengthen Operational and Commercial Excellence to increase competitiveness for BAU and business growth.
(2) Growth Portfolio Strategy by focusing on growth in the BioChemical product and invest in High Value Products (HVP) and Sustainable Products.
(3) Sustainability Development Strategy following sustainability vision with embracing economic, social, and environment aspects under the good corporate governance to become a sustainable company which is nationally and internationally accepted.
Additionally, GGC also drives strategies through 4 key enablers:
(1) Financial Management to align with strategic directions.
(2) Enhancing Organizational Capability and Human Resources to support the changing strategies and directions, including the appropriate application of digital technologies.
(3) Innovation Implementation to develop High Value Products (HVP) and Sustainable Products in line with the company’s plans.
(4) Corporate Governance Integration 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 in 2030 and achieve the Net Zero (Scope 1&2) and Scope 3 reduction by half in 2050, also maintain appropriate biodiversity.
Social Build cooperation with stakeholders throughout supply chain and transform CSR to Creating Shared Value (CSV) including Social Enterprise (SE). Also, commit to operate Human Right in accordance with UNGP.
Governance Operate with honesty transparency and fairness , develop innovation and sustainability framework as the guideline of laws and regulations both nationally and internationally.
- Credit rating is classified as “A-(tha)” National Rating; Outlook Stable by Fitch ratings
- GGC wins the 2024 Eco Vadis Gold Medal
- GGC wins the ISB Excellence & ISB DNA and the ECO FACTORY of 2024
- GGC received an excellent CGR score (5 stars) for the 7th consecutive year.
As for performance in 3Q2024, total revenue of THB 4,481 million,
Adjusted EBITDA of THB 239 million, increased by 81% YoY mainly due to improved performance of the fatty alcohols following the increase in sales volume and average of fatty alcohols price. The Company had a Stock Gain & NRV of THB 21 million and recorded the share of loss from JV and FX Loss of THB 150 million and THB 119 million, resulting in the net loss of 3Q2024 of THB 183 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 30/09/24 | GGC | PETRO | SET |
|---|---|---|---|
| P/E (X) | - | - | 18.03 |
| P/BV (X) | 0.50 | 0.65 | 1.37 |
| Dividend yield (%) | 2.14 | 3.02 | 3.16 |
| 30/09/24 | 28/12/23 | 30/12/22 | |
|---|---|---|---|
| Market Cap (MB) | 4,790.76 | 9,213.00 | 15,150.27 |
| Price (B/Share) | 4.68 | 9.00 | 14.80 |
| P/E (X) | - | - | 17.00 |
| P/BV (X) | 0.50 | 0.94 | 1.47 |
