Report of operating result of Q1/2021

           In 1Q21, the Company recorded THB 1,313.94 million in sales, increased by THB 75.33 million or 6.08% from the same period last year. Majority of sales (60.17%) still came from exports to international markets and sale in foreign countries contributed by foreign subsidiaries of the Company (Myanmar, UK and Australia). The 1Q21 net profit (loss) was THB (13.62) million decreased from net profit (loss) of THB 0.92 million in 1Q20.In term of net profit (loss) margin, it has decreased to be (1.03)% compare to the same period last year which is 0.07%. Nonetheless, the Company has always been focusing on a potential mitigation for those effect from above factors and will continue to focus on research and development of new products to support the company’s performance.

• Although, the Company continuously and regularly received more orders of reusable bags and fruit and vegetable bags from foreign customers, the shortage of shipping container to foreign customers impacted the revenue of the Company due to the delayed delivery of products.
• The fluctuation of Thai exchange rate which was stable during the beginning of the quarter and tended to depreciated against US-dollar, during the last month of the quarter. Such depreciation creates negative effect to forward contracts that the Company previously entered into, and the Company has to record loss from mark to market value of such forward contract due to the application of International Financial Reporting Standard (IFRS-9).
• Coup situation in Myanmar is serious and effects to delivery of raw material and financial transactions in Myanmar.
• Price of raw material continually sharply increased since 4Q20. This effect to production cost of Consumables. However, the Company closely manage raw material usage in order to reduce loss from higher production cost that might be effected from such factor.