Message from the Chairman and the Chairman of the Executive Committee

The Winning Business Strategy… Growing from strengths and seizing the future of the digital society

The overall economic drivers began to recover in 2022. Business activities across all sectors, both domestically and globally, started to resume as the country reopened. Despite the recovery trajectory, Thailand’s economy has yet to face challenges such as inflation rate or the 14 – year high spike energy prices, which directly impacted the business operation. In spite of any circumstances, the joint forces of all parties, who have acted on their best endeavors and proactively prepare and handle for any situations, turned crisis into opportunities. In addition, by exploiting the existing strengths through the use of technology advancement, the Company can respond to the needs, benefits, and conveniences of the consumers’ new lifestyles or “New Normal” that the Company regards as our top priority. As a result, the Company is able to maintain its leadership position with outstanding growth. With the vision that firmly believes in the economic and consumption growth, the Company continues to invest to expand its stores both domestically and internationally. This includes increasing channels for products accessibility by expanding its online platform to solidly maintain its strategic strengths.

“Sharing Opportunities and Creating Value for Society”… Teamed up for a stronger and sustainable SMEs

Apart from the Company’s economic dimension, the Company has extended its growth to society and community by developing skills and promoting careers to generate income for network of small and medium enterprises (SMEs) within Thailand and countries where the Company has presence in. This creates sales opportunities across all channels, stores and online, and drives sales growth to achieve the target. The continuous increase in SMEs partners, as a result of collaborations, is considered one of the Company’s proudly presented accomplishment. Through the years, we have worked and collaborated well with one another. In addition, the Company also promotes and create opportunities, strives toward creative innovations, for both within and outside of the organization, with an aim to create an “innovative culture”, which would lead to an innovation that responds to customers’ needs and lead the Company towards a truly innovative organization.

2022 Performance indicated a great comeback… A solidly stable financial status

For the Company’s 2022 performance in review, each business unit has seen its turnaround in terms of growth, revenue, and profit, following the recovery of Thailand’s and regional economy. The Company recorded total revenue of 852,605 million baht, increased by 45 percent from the previous year, and net profit of 13,272 million baht. This led to the Company’s financial position has continued to prove its stability with strong liquidity and appropriate financial structure. The Net Debt to Equity Ratio has returned to a level below 1 time, which is in accordance with the terms and conditions specified in the debentures.

Vision on sustainability… an organization that facilitate community and society to have a better standard of living and live happily

2022 is another outstanding year for the Company, where the Company was recognized by many organizations, both nationally and internationally. The Company’s determination to drive the organization towards excellence and built a strong leadership foundation with sustainable growth. In addition, the commitment and continuity the Company puts to accommodate the community and society to live a good happy life. For the year 2022, not only has the Company been selected as a member of the Dow Jones Sustainability Indices (DJSI) World Index for the fifth consecutive year in the Food & Staples Retailing industry, but the Company has also been honored to be selected as the only organization globally to be assessed in the Gold Class level in the Food & Staples Retailing industry in the Sustainability Yearbook 2022 by S&P Global. Apart from the above, with the Company’s strong will to develop environmental, social, and governance risks management (ESG risks), the Company received a revised rating to A level from MSCI ESG Ratings 2022.

On behalf of the Board of Directors, Executive Committee, and Management, we would like to express our sincere appreciation to our employees, shareholders, and all stakeholders, for the continuous support and confidence, which helped us regained our strengths and continue to grow. The Company is committed to continuously and sustainably develop through a seamless combination of sustainability and business operations based on good corporate governance. The Company is dedicated to operating our business under the motto “Create and share opportunities for all” based on 3 values: “Nation, People, and Organization”, in order to become a truly sustainable organization, along with creating a good society and environment for our world.

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