SCGJWD Logistics Public Company Limited (SJWD) announced its 2024 operating performance, showing a net profit of 1,119 million baht, an increase of 47 percent over that of the previous year, and generating total revenue of 24,705 million baht, a 3-percent increase over the previous year. The positive results were due to the fostering of synergy following the merger to reduce costs and increase the potential to expand investment, as well as the expansion of new customer base. This is despite the fact that both revenue and net profit in Q4/2024 slowed down because the industrial estate joint venture business in Cambodia postponed the recording of revenue from land sales to Q1/2025, affecting the recognition of profit sharing to the Company. SJWD is preparing to propose to the shareholders to consider a dividend payment at a rate of 0.28 baht per share. In the meantime, Q1/2025 received a boost from positive factors from the vehicle storage and management business, with the continuous expansion of services to customers. Also significant is that the Company is preparing to open three more cold storage warehouses this year.

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 performance for Q4/2024 showed a total revenue of 6,335 million baht and a net profit of 185.4 million baht, a slight downturn from the same period of the previous year. The slowdown in net profit was due to the slower than expected recovery of the overall economy, coupled with Phnom Penh SEZ Plc., a major industrial estate developer in Cambodia in which the Company has invested, adjusting its accounting entries, postponing the recording of revenue from land sales from Q4/2024 to Q1/2025, affecting the Company’s recognition of profit sharing. Also a factor was that the Company saw an increase in employee expenses. However, the overall operating results for the whole of 2024 still showed growth in both revenue and profit. The total revenue for the year was recorded at 24,705 million baht, an increase of 3 percent over the previous year, while net profit was at 1,119 million baht, a 47-percent increase over that of the previous year, when the net profit was 761.3 million baht. This was due to the fostering of strong synergy within the group following the completion of the merger, resulting in increased cost management efficiency and improved business expansion potentials.

The businesses that showed significant growth in 2024 were: (1) Overseas logistics service business, with revenue of 3,589 million baht, an increase of 30.1 percent over that of the previous year due to business expansion and additional contracts, such as the transportation of cement pellets to cement factories and the transportion of outbound cement to seaborne vessels bound for Vietnam Construction Materials (VCM) in Vietnam; (2) D2C (Direct to Consumer) freight service business, with revenue of 2,452 million baht, an increase of 9.1 percent over that of the previous year as a result of a new contract with PTT Oil and Retail Business Public Company Limited (PTTOR) to transport bakery products from the factory to Café Amazon shops in various regions. The Company has also been awarded transitory warehouse management contract and freight services for the transport of air-conditioner units to the dealers and customers of B.Grimm Carrier (Thailand) Company Limited and Carrier (Thailand) Company Limited since November of 2024; (3) B2B (Business to Business) freight service business. Despite concerns about the impact of the slowdown in the cement and construction material industries, the Company managed to produce a revenue of 8,429 million baht, a 6.8-percent increase year-on-year from the expansion of new customer base and additional contracts from SCG. Meanwhile, the warehousing and management business, such as the hazardous goods and chemical warehouse business, realized 552 million baht in revenue, an increase of 7.6 percent, and the cold storage warehouse business showed a revenue of 1,052 million baht, an increase of 5.7 percent year-on-year from increased demand for storing marine fish.

In addition, in 2024, the Company received a share of profit from domestic and international investments (excluding income from goodwill) of 344 million baht, an increase of 62.6 percent, as a result of the expansion of investment in the previous year with the share acquisition in Asia Network International Public Company Limited (ANI), a leading airline cargo general sales agent (GSA) and Swift Haulage Berhad (SWIFT), an integrated logistics business listed on the Malaysian Stock Exchange. Such investments were derived from the Company’s strong capital potential after the completion of the merger.

As a result of the Company’s 2024 performance, most recently, the Board of Directors meeting on February 27, 2025 resolved to propose to the 2024 Annual General Meeting of Shareholders to consider approving the payment of dividends derived from the performance in 2024 at the rate of 0.28 baht per share, totaling 507 million baht, with the XD date set for May 7, 2025 and the date for dividend payment to shareholders on May 23, 2025.

The Chief Financial Officer of SJWD also said that the performance trend in Q1/2025 is expected to be at a good level. The situation in January was in line with the target. Positive factors were seen from the vehicle storage and management service business, which is expected to see an increase in vehicle transport volume following the conclusion of the 12-day Motor Expo in Bangkok in December 2024, and the continuous expansion of logistics services for important customers such as B.Grimm Carrier (Thailand) Co., Ltd. and Carrier (Thailand) Co., Ltd., as well as partners in the SCG Group. In addition, Phnom Penh SEZ Plc. in Cambodia, in which the company has invested, is preparing to recognize increased revenue from land sales in the industrial estate.

Meanwhile, the cold storage warehouse business operations will open three new warehouses within this year, covering a combined total area of over 21,000 square meters. Also on the table are are business partners who are interested in expanding their investment in cold storage warehouses through joint ventures. In addition, the Company aims to continuously improve efficiency and reduce costs in the transport business, which is the main volume of revenue, for better profit margins.