Message from the chairman
The Thai economy in 2023 grew by about 1.9 percent, decreasing from 2022 which grew 2.5 percent, mainly because the government investment was negative by 4.6 percent due to delays in government budget disbursement, including the exporting value also decreased by 1.7 percent due to high inflation in many countries, causing to the global economic recession. Meanwhile, Industrial production shrank by 3.2 percent. However, the highlight of the Thai economic situation was Inflation which low at just 1.2 percent and there were 28.2 million tourists visiting Thailand, the accommodation and food service sectors can be expanded by 18 percent.
The performance of CSP Steel Center Public Company Limited in 2023 has a total revenue of approximately 2,380 million baht, decreasing from 2022 in the amount of 769 million baht or 24%. The main reason that income decreased was from the average selling price decreased by 18% and sales volume decreased by approximately 8% from 2022. The average selling price dropped significantly from the first half of 2023 due to the global steel prices dropped sharply, decreasing demand for steel from war problems and the problem of high inflation in the United States and throughout Europe. As the second half of 2023, Thailand itself faced the problem of being unable to disburse the government budget. This caused the demand for steel in Thailand to decrease significantly. Because of the problem of global steel prices dropping rapidly and the demand for steel in Thailand has greatly decreased, all of those reasons effected to the company was unable to generate income as targeted. Including, the company’s not able to sell products at prices that can generate profits for the company as usual. Therefore, it was the main reason that caused the company to suffer a loss in the amount of 91.65 million baht.
As I am the Chairman of the Board of Directors. I am very disappointed that the company's performance had a loss in the year 2023. Therefore, the management team and I have a strong commitment to manage the company to return to have a net profit performance in the year 2024. In this regard, the company has still continued to operate in accordance with the policy, goals and practices for sustainability management in other dimensions, along with taking into account the good relationships with all groups of stakeholders in the value chain of the company, which most of the goals in other dimensions have been achieved at satisfactory levels. Including, conforming the company’s principles of CG Code 2017, policies, plans and practices of other departments relating to the community/social dimension and environment. However, the management team and I will try to manage the company to be able to have net profit in the year 2024 by focusing on developing more efficient work system, and having business ethics along with a good relationship with responding the expectations of all groups of stakeholders to achieve the objectives of the company.
Mr. Supachai Chaisupat
Chairman