Dear valued shareholders and stakeholders,

The overall economic outlook in 2024 witnessed several uncertainty factors driven by different incidents both domestically and internationally, for instance, global inflation, high interest rates, volatile exchange rates and energy costs. These factors affect the overall economic expansion, leading to lower-than-expected economic growth. Despite challenges and uncertainties surrounding the business landscape, the Company’s operating results have been growing strong. In 2024, the Company’s revenue from sales and service provision was reported at 1,014.54 million Baht, increasing by 43.11 million Baht or 4.44%, with the net profit of 65.69 million Baht, increasing by 7.39 million Baht or 12.68% from the previous year.

The operating performance in relation to the overall strategies is at a satisfactory level, for instance, product and service development that caters to existing customers and new customers in the industrial sector, as well as the expansion of customer base towards general consumers from the addition of new products and the development of distribution channels and online communications. With regards to growth in new businesses in the medical and health sector, the operating results are close to the target, with revenue from medical and health products increasing by more than 200% from the year before. There has been an addition of house brands in the personal protective equipment sector; SYNOS and ROCC, as well as ergonomic products and health devices under the brand ERGOZO. These brands have contributed to the increase in house brand sales. Furthermore, the water treatment and environmental service businesses have also reported an increased revenue from the construction projects, system installation services and distribution of relevant equipment, through collaboration with alliances.

2024 is another year of pride with the awards of achievements. The Company received the SET Awards 2024 for an Outstanding Company Performance Awards, Business Excellence Awards for the listed company with a market capitalization of not exceeding 1,500 million Baht. The Company has also been awarded the “A” rating in the SET ESG Ratings in 2024 for the second consecutive year. In terms of corporate governance, the Company has been rated “Excellent” in the CG Scoring and a 5-star badge for the tenth consecutive year. Moreover, the Company received the accreditation from the Carbon Footprint for Organization (CFO) from the Thailand Greenhouse Gas Management Organization (Public Organization), reflecting the Company’s dedication in operating the business for growth on the basis of corporate governance and sustainable development.

2025 is still a challenge for the business sector in encountering several uncertainty factors in terms of the economy, society and environment. However, the forecast suggests that continuous economic growth is still a possibility. In this regard, the Company has set the target for business growth, committing to operating the business to cover the economic, social and environmental aspects, following the principles of corporate governance and sustainable development, focusing on the development of products and services, staff members’ skills and expertise, process improvement through the incorporation of information technology systems to enhance service delivery potential and competitive advantages. This is to accommodate growth strategies and market expansion towards the industries with the potential to grow, as well as the emphasis on environmental impact mitigation caused by business operations, effective use of resources and reduced emission of greenhouse gases.

Lastly, Phol Dhanya PCL would like to thank shareholders, customers, suppliers, staff members, stakeholders and all related parties for providing support to the Company’s business operations all along. The Company will remain committed to developing and enhancing organizational potential, under the principle of good governance, to be able to accommodate opportunities and risks that may incur amidst the changing business landscape, enabling us to be the organization that drives the economy, delivers values to shareholders, stakeholders, as well as the society and environment in a sustainable manner.