Message from the Board of Directors
"In an era that the world is encountering the global warming and environmental problems, UAC is well aware of the necessity to transform its business into the future world, both on clean energy and sustainable innovation development, to ensure that UAC is ready to move into the 30th year and the years to come with stability and sustainability"
In 2024, UAC Group operated business under a fast-changing socio-economic contexts amidst various challenges which included the impacts of fluctuated global economies, such as increased inflation, higher interest rates and trade uncertainties. UAC has continued to grow and develop organizational efficiency owing to the commitment of the Board of Directors, the executives and the employees who helped drive the organization forward and be internationally recognized, both for its strength and sustainability, together with the business operation in accordance with ESG principles to build up sustainable growth and to create value for stakeholders in all sectors.
In terms of operating performance, UAC Group could strongly maintain financial liquidity, as revenues recognized from business operations increased by 645.48 million Baht or 34.89% compared to the previous year from trading business, energy business, petroleum exploration and production business and other revenues. The Company could also control operating expenses by focusing on increasing efficiency and effectiveness on Operation Excellence, which resulted in net profit and EBITDA amounted to 168.72 million Baht and 388.21 million Baht, respectively, or an increase of 39.32% and 13.45% compared to the previous year. The Company also paid the interim dividend from net profit at the rate of 0.25 Baht per share, totaling 166.90 million Baht, according to the resolution of the meeting of the Board of Directors No. 6/2024.
In terms of risk management in 2024, the Board of Directors monitored the operating performance and reviewed the risk issues to make them conform to the Company’s strategies and policies, with regards to operation risks, production risks, social risks, compliance risks including sustainability risks (ESG) and emerging risks.
In terms of corporate strategic plans, the Board of Directors has supervised the business operations pursuant to the corporate strategic plans, by reviewing the work plans to make them conform to the short-term and long-term strategies, vision and mission, to catch up with the changes that will occur in the future.
Apart from focusing on business growth, UAC Group also placed emphasis on conducting business under the principles of good governance, transparency, anti-corruption, respect for human rights, and taking into consideration all stakeholders, as well as conducting business with responsibility to environment, society, and governance (ESG). The Company is also committed to developing the organization to grow sustainably in accordance with ESG principles in all dimensions as follows:
Environmental: Set the target to reduce greenhouse gas emissions by 20 percent, support clean energy, reduce environmental impact by implementing clean technology and renewable energy in the production processes and improve the production process to be environmentally-friendly.
Social: Emphasis on human rights, gender equality and safety of employees by focusing on projects which promote the quality of life of employees as well as encouraging participation in the activities of the communities with the aims of improving internal and external societies.
Governance: Conduct business with strong governance principles, promote transparency and fair supervision to gain confidence of the stakeholders in all sectors.
From commitment and awareness of responsibility in all aspects, consequently, the Company has been assessed the corporate scoring in the Corporate Government Report (CGR) at an "Excellent" level for the seventh year, earned “A Level” from assessment result on SET ESG Ratings for 2024 from the Stock Exchange of Thailand (SET), received the Sustainability Disclosure Recognition Award for Sustainability Disclosure 2024 from Thaipat Institute for the fourth consecutive year, and the Thailand's Best Managed Companies 2023 award from Deloitte Thailand for the second consecutive year. These recognitions emphasized the achievements on management and contribution on driving the industrial circle and the economic system of the country.
For 2025, the Company has target to uplift its ESG strategy to be the core of its business operations under a business framework on reduction of greenhouse gas emissions, development of environmentally friendly products and services, promotion of corporate culture which emphasizes equality and participation for all, so that UAC can move forward to the 30th years and the next years to come with stabilities and sustainability.
On behalf of UAC Public Company Limited Group, we would like to thank all shareholders and stakeholders for their trust, confidence and support to the Company. Lastly, the Company would like to pledge to continue to strive to create business growth together with good corporate governance, to move forward to be the sustainable organization, to build good returns to the shareholders and values to all stakeholders.