SCGJWD Logistics Public Company Limited (SJWD) announced the Company’s operating results for the fourth quarter of 2023, showing a net profit of 260.8 million baht, or a growth of 86.6 percent over the previous quarter. This is a result of improved cost management capability following the merger. The total revenue, on the other hand, was similar to that of the previous quarter. On the whole, the overall 2023 performance showed 23,979.0 million baht in total revenue, and a net profit of 761.3 million baht. The Company is prepared to pay dividends at the rate of 0.25 baht per share. Where the trend for Q1/2024 is concerned, the cold storage warehouse business and the automotive storage & management business have shown continuous and significant growth in performance.

Dr. Eakapong Tungsrisanguan, Chief Financial Officer of SCGJWD Logistics Public Company Limited (SJWD), the largest integrated logistics and supply chain service provider in the ASEAN, revealed that the Company’s operating results for Q4/2023 showed a net profit of 260.8 million baht, a strong growth of 86.6 percent compared to that of the previous quarter. The total revenue for the quarter was 6,378.4 million baht, similar to that of Q3/2023. The main factor of the impressive growth in net profit was SJWD’s focus on adjusting the cost management structure and operating expenses to be more efficient after the completion of the merger. As a result, the Company’s gross profit margin and net profit margin in Q4/2023 increased to 14.7 percent and 4.1 percent, respectively, from 12.46 percent and 2.2 percent in the previous quarter, respectively. The Y2023 performance showed the total revenue of 23,979.0 million baht and a net profit of 761.3 million baht after consolidating the business and financial statements of SCG Logistics Management Company Limited (SCGL) and leveraging the incorporation to expand business and increase cost management potential.

Significantly, the automotive storage and management service business has shown outstanding revenue growth in Q4/2023 and has been setting a new record high every quarter throughout the year, achieving a revenue of 340.0 million baht, an increase of 15.0 percent from the previous quarter. This is because the business volume of the storage and transportation of electric cars has increased, due to the expansion of the EV business and the automotive entrepreneurs rushing to deliver cars after receiving orders at the 2023 MotorEXPO. Meanwhile, the cold storage warehouse business also showed an increase in revenue by 2.5 percent over that of the previous quarter, to 292.6 million baht. This development was mainly due to the increased demand for tuna and seafood storage following the onset of the La Niña phenomenon which has allowed fishermen to improve their catch.

Most recently, the Company’s Board of Directors meeting on February 29, 2024 resolved to propose to the 2024 Annual General Meeting of Shareholders to consider approving the payment of dividends from the 2023 operating results at the rate of 0.25 baht per share, totaling 452.75 million baht. The XD mark is scheduled to be posted on May 9, 2024 and dividend payments are expected to be made to shareholders on May 27, 2024.

The Chief Financial Officer of SJWD also said that the Company fully intended to continue to significantly grow the operating results this year, with the operating trend for the 1Q/2024 expecting to see the cold storage warehouse business to have a continuous increase in demand for seafood storage. At the same time, the automotive storage and management business will benefit from the tremendous expansion of demand for electric vehicles. Moreover, the general warehouse business has been welcoming new customers that will join or replace existing customers. In addition, the company is determined to further increase management efficiency, reduce costs and expenses, to increase profit margins and develop new forms of logistics and supply chain services to generate more income.