JWD InfoLogistics Public Company Limited (JWD) announced the Q3/2022 performance with a total revenue of 1.593 billion baht which is a 15-percent growth over the same period of the previous year according to plan. The Company has set the target for Q4/2022 to be the year’s best in anticipation of the high season of the business as well as the expectation for the overall economic recovery that will in turn result in the increase demand for logistics and supply chain services. Meanwhile, the Management is set to aggressively expand the business according to plan following the recent announcement of the major merger deal as the new partner is expected to help increase the capability and strength in all areas.

Dr. Eakapong Tungsrisanguan, Chief Financial Officer, JWD InfoLogistics Public Company Limited, ASEAN’s recognized expert in logistics and supply chain, revealed that the Q3/2022 performance was in accordance with the set goal as the record revenue topped 1.593 billion baht, or a 14.8-percent increase over the same period of the previous year, and a 13.9-percent increase over the previous quarter, respectively. The growth was ascribed to the continuous business expansion and the increased demand for logistics and supply chain services as a result of the steady recovery of the economy. The net profit for the quarter was 111.7 million baht, a decline from the same period of the previous year due to the rising costs in line with the economic conditions and the recording of expenses related to merger transactions.

The Company’s businesses with outstanding revenue growth in Q3/2022 were: (1) General warehousing business, with the revenue of 136.7 million baht, a growth of 38.5 percent over the same period of the previous year; (2) Cargo transport business, with the revenue of 322.6 million baht, a growth of 35.8 percent over the same period of the previous year; (3) Moving business, with the revenue of 110.4 million baht, a growth of 59.5 percent from the same period of the previous year; (4) Warehousing and distribution center business in Cambodia, with the revenue of 78.9 million baht, a growth of 76.4 percent from the same period of the previous year; and (5) Food service business in Taiwan, with the revenue of 381.7 million baht, an increase of 9.1 percent over the same period of the previous year with continuous profit-making this year. The automotive warehousing and management business, which was affected by the shortage of automotive chips in the first half of this year, managed to earn higher revenue than in the previous quarter, and nearly the same as in the same period of the previous year, following the gradual resolution of the automotive chip problem. Moreover, the Company has expanded its services to leading electric vehicle (EV) brands from China and will continually penetrate the market with other automotive brands to maintain its leadership in services to this segment of customers in addition to new contracts with leading European automobile brands.

The Q3/2022 result has an favorable impact on the overall positive growth performance of the first nine months of 2022, with the total revenue of 4,402.3 million baht, a 15.3-percent increase from the same period of the previous year, and had a net profit of 391.5 million baht, which is close to the figure realized in the same period last year. This is because most of the businesses have shown a good growth rate from the continuous business expansion plans in the ensuing period.

Mr. Charvanin Bunditkitsada, Chairman of the Executive Committee and CEO of JWD, stated that the business outlook for Q4/2022 is expected to be the best performing quarter of the year, as it is the high season for business and the Company will also benefit from the on-going economic recovery in the country and in the ASEAN region. This will benefit the manufacturing sector and the consumption in the country, resulting in an increased demand for logistics and supply chain services.

In this regard, the Company is confident that the majority of the Company’s businesses will continue to have good growth performances. The general warehousing business is expected to have a consistently high rental and utilization rate, while the cold storage business will be earning more revenue from the new PACM project in Samut Sakhon where the occupancy rate is at full capacity and the services are being expanded to new product groups such as medications and vaccines after the Company has been awarded the World Health Organization (WHO)’s Good Storage and Distribution Practices (GSDP) certification. At present, the services for this new group of customers have already commenced. The automotive warehousing and management business is expected to earn higher revenue owing to the expansion of the customer base and the gradual improvement in the automotive chip shortage situation. Also significant is the food service business in Taiwan, as it is now the high season for this business in that country.

“Following the announcement of JWD’s major business deal recently, the Company continues to aggressively expand its businesses as planned, by being the First Mover to initiate and to offer new logistics and supply chain solutions to customers together with our new partner, namely SCG Logistics Management Company Limited, to join forces and increase the combined strength in all aspects – from service capability to the working capital earmarked for business expansion, as well as capable personnel – so as to become the leader in logistics and supply chain in the ASEAN region,” Mr. Charvanin concluded.