UAC Global Public Company Limited determines to operate business under the corporate governance principles together with responsibility to environment, society and all stakeholders by focus on development of work processes to maximize efficiency and effectiveness; development of the employees' potential to make them knowledgeable and capable including cultivation of "WE R UAC" value to all employees to make them realize about participation and responsibility to organization and the society. The Company strongly believes that good personnel are the main factor that can lead UAC to successfully attainment of targets on having the stable and sustainable business operations by adhering to corporate governance principle, transparent and equitable treatment and anti-corruption.
Due to the fast changing of global economic condition, politics and environment which broadly impact to business sectors, the Board of Directors therefore has reviewed policy, target and strategy of its business operations, both short-term and long-term, by taking into account current and future tendency of national and global economic conditions, including the public sectors' policies in order to increase business opportunities for sustainable growth of the organization and the stakeholders and for achievement of target to increase revenue to 5,000 million Baht by 2022. *Those plans include focus on growth of Trading Business, which is the main source of revenue, investment in chemical products and energy projects, both domestically and internationally, as well as development of work processes with ultimate aim of Operation Excellence to reduce relevant costs and expenses. The Board of Directors has closely monitored management of the Management in order to make operations of the Management and the employees follow the specified policy and strategy. The Risk Management Committee has been assigned to prudently and carefully consider risks from project investments and other investments by considering risk factors in all aspects. Consequently, business operations of UAC in year 2018 achieved the highest success level since its establishment of more than 23 years ago, as revenues and assets have been increased by 56 percent and 28 percent, respectively, from the previous year. Furthermore, the Petroleum Production Plant (PPP) in Sukhothai Province has been awarded for outstanding workplace on occupational safety, health and working conditions at provincial level for 2018 from Department of Labor Protection and Welfare, including received honorable mention award from EIA Monitoring Award, arranged by the Ministry of Natural Resources and Environment. Hence, these awards are solid proof that UAC has operated business by largely taking into consideration all stakeholders. Accordingly, in 2018 UAC has been selected by the Stock Exchange of Thailand to be "Thailand Sustainability Investment (THSI)" for the third consecutive year.
For operating results in 2018, revenue from sales and services of UAC and the companies within the Group were 2,552 million Baht, an increase by 56.92 percent of 2017 due to the Company's recognition of revenue from sales of chemical products to main customers in Petrochemical Industry as chemicals was required to be replaced pursuant to the production process cycle and also recognition of revenue from investment in energy projects. Earnings before interest tax, depreciation and amortization (EBITDA) and net profit were 361.49 million Baht and 136.51 million Baht, respectively, increasing by 43.09 percent and 21.87 percent from the previous year compared with the previous year. In addition, profit sharing from investments in Bangchak Bio-fuel Company Limited, an associated company that the Company held 30% of its shares, has increased by 2,205.67 percent which was attributable to the government policy to maintain mixing ratio of biodiesel in diesel oil of 7 percent (B7) throughout the year.
On behalf of the Board of Directors, we would like to thank all shareholders, stakeholders, including the Company's executives and employees for continually confidence, support as well as for provision of good cooperation with UAC. All of them are important force to drive UAC to grow up and develop
continually, firmly, in line with the corporate governance principles, and add value to the organization and thriving returns to the shareholders and stakeholders constantly and sustainably.
(Mr. Paiboon Sareewiwatthana)
Chairman of the Board of Directors
(Mr. Kitti Jivacate)
Chief Executive Officer