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Message from the Chairman

Message from the Chairman

In 2022, Thai economy showed a good recovery in line with the rebound of the tourism sector, private consumption, and private investment, which improved as the severity of the COVID-19 situation eased. However, concerns over the Russia-Ukraine situation led to a significant increase in crude oil prices, resulting in greater volatility in global coal prices. Nevertheless, AGE has been able to maintain a strong business performance by expanding its comprehensive logistics operations and implementing efficient cost management strategies, even amidst the fluctuating coal prices. This has resulted in the Company achieving its highest operating performance to date.

In 2022, AGE achieved its highest performance with coal sales reaching 4.1 million metric tonnes. The total revenue from sales and services amounted to 18,815.2 million baht, representing a significant increase of 46 percent. Out of this, 18,203.2 million baht was generated from both domestic and international coal sales, while 2,074 million baht came from the logistics services. The revenue from providing services to Company Group under AGE amounted to 1,462 million baht, and the revenue from serving external customers, including the sales of oil and agricultural products, reached 612 million baht. The Company recorded a net profit of 1,248 million baht, marking a substantial increase of 95.6 percent compared to the previous year. These outstanding results led to 2 dividend payments throughout the year 2022.

These achievements reflect the Company’s ability to adapt to the volatile business landscape while considering the potential impacts on the Company, employees, and the surrounding communities. AGE is committed to upholding responsibility towards all stakeholders, including environmental and social considerations, in order to ensure sustainable business operations. In 2022, AGE received recognition for the 5th consecutive year as a sustainable stock listed on the Stock Exchange of Thailand. This recognition is awarded to companies that demonstrate responsible business practices, emphasizing environmental, social, and governance principles. It reaffirms the company’s commitment to sustainable development and signifies its strong performance in adhering to sustainable business guidelines.

Furthermore, the Company continues to actively expand its investments in the logistics business to enhance its business capabilities and strengthen its integration. It also plans to extend its services in the leasing business group, providing loans for hire purchase of trucks to drivers with excellent performance, including both the Company’s employees and partners. Additionally, there are future market expansion plans for the agricultural product trading business.

On behalf of the Chairman of the Board, I express my gratitude for the trust and confidence bestowed upon us by our shareholders, investors, financial institutions, business partners, customers, executives, and all employees who have dedicated their efforts to help drive the Company’s success with sacrifice, commitment, perseverance, and integrity. The Company remains committed to conducting business guided by good corporate governance principles, with a strong awareness of all stakeholders, and a steadfast commitment to environmental and social responsibility, ensuring the Company’s continued sustainable growth.

Mr. Apisit Rujikeatkamjorn

Chairman of the Board